Type of Content: Research
Other Type: Brief
Resource Title: Tapping into Australia’s Ageing Workforce: Insights from Recent Research
Publication Title: ARC Centre of Excellence in Population Ageing Research
Publish Date: June 2021
Summary of Brief
- An untapped talent pool that is older, healthier, and more educated
- Demographic challenges are bigger than the COVID19 crisis, but pandemic could exacerbate trends
- Historic surge in participation rates has its genesis in the past and holds lessons for the future
- As rates of increase in mature-age labour force participation slow, ambitious targets are needed
- Older workers remain exposed to employment risks
- Health and education has improved, but older Australians continue to face training, care, and ageism barriers
- These difficulties are visible in labour market outcomes, where Australia lags the best performing countries.
Employers need better strategies to respond: An expanding literature provides guidance on how employers can better recruit, deploy, and retain older workers. This includes the helpful 3i framework, developed by CEPAR researchers, which proposes a series of strategies to help employers better Include workers over the life cycle, Individualise their responses to different circumstances, and set up processes that better Integrate workers of all ages in an organisation. Governments need to support employers with their own multi-pronged, cohesive strategy.
Resource URL: https://bit.ly/35P2867