Presentation for my class on the ageing workforce and attraction and retention strategies.

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AGEING WORKFORCE STRATEGY
ATTRACTION AND RETENTION
Allison Denny-Collins

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Some statistics
 Australiacurrently experiences workforce growth of about
170,000 each year.
 Workforce growth for the entire decade of 2020s will only be
about 125,000.
 Between 2005 and 2020 the number of people aged 55 and over
will increase by more than 50 per cent.
 By 2050, the number people aged 55 and over will have
increased by over 200 per cent.
 by 2050, the number of people aged 18 to 54 is projected to
grow by just over 7 per cent.
Australian Bureau of Statistics

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Some more statistics

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Even more statistics (sorry…)
 The number of older people working beyond the traditional
retirement age has jumped by almost half in three years.
 Asurvey last November found that 22% of people aged 65 to 69
are still working, compared with 9% in 1989.
 Unlikeyounger workers, most mature age workers are working
part-time, and their participation rates are rising fast, though at
lower levels.
 Today, there are approximately six working individuals in
Australia for every person over 65 years(6:1); during the next
twenty years, it is estimated that ratio will be reduced to 3:1
Australian Bureau of Statistics

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Skill supply vs. demand
Confronting the Talent Crunch 2008 – A Manpower White Paper

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Why should you employ them?
 They are already skilled.
 An organisation can maintain corporate memory.
 They are loyal, reliable and have a good work ethic.
 They stay 2.4 times longer than a younger person and therefore
there is lower turnover.
 There is a wider pool of applicants.
 They add diversity to a workplace.
 They are highly productive.
National Strategy for an Ageing Australia, Employment for Mature Age Workers Issues Paper, November 1999.

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Try this model
The New Agenda for an Older Workforce – A Manpower White Paper

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Strategies for your organisation
 Tohave a detailed understanding employee demographics,
and of what key positions or job categories may be at risk in
the near future.
 Identify
potential opportunities for attracting and retaining
mature workers using part-time or alternative work
arrangements.
 Investigate
a strategy for retraining mature workers as part of
the learning and development strategy.
 Developstrategies to preserve critical knowledge before it
walks out the door.
 Review how effectively age-related issues are addressed
within the organisations overall diversity strategy.

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Strategies for your organisation
 Attraction and Retention Strategies
 Flexible working options
 Training and development
 Being a mentor to younger staff
 Being mentored by younger staff on new technology
 Use flexible remuneration and conditions, i.e. additional leave for
caring purposes.
 Being on a contact list for short term employment and projects.
 Being part of an alumni for mentoring and networking opportunities.
 Knowledge Transfer
 Identify employees in critical roles who are about to retire. Find a
replacement approximately three months before the planned retirement
date. Allow this time for knowledge transfer and mentoring.

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References
 Australian Bureau of Statistics
 Defence Personnel Environment Scan 2025
 Addressingthe challenges of an ageing workforce - A human capital
perspective for rms operating in Asia Paci c; 2004, IBM
 TheNew Agenda for an Older Workforce – A Manpower White Paper,
2007, Manpower Inc
 Australia’s
Ageing Workforce, Dr Karen Hall, Chief Policy Adviser,
Health Chamber of Commerce and Industry
 Confronting
the Talent Crunch 2008 – A Manpower White Paper,
2008, Manpower Inc

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 Allison Denny-Collins
alli@shiftedhr.com
Skype allidc
Twitter allidc
Blog http://www.shiftedhr.com/