Managing the Age of ChangeProfessor Louise Rolland

Business, Work & Ageing

Swinburne University of Technology

© BWA 2004

Business Work and Ageing (BWA)A cross sectoral forum to develop and promote

information to Australian organisations about workforce ageing

• Key activities:– Academic Research:

BWA Centre for Research Swinburne University of Technology

– Business Services:Age management products

Age audits & management plans – Government policy & projects– Dissemination activity

© BWA 2004

The Changing Demographics

• Increasing longevity

• Falling fertility rates

"It is not realistic to think that the ageing of the population can be significantly addressed by a reversal of the fertility rate. There is no magic

bullet which will solve our problem of the aging of the population."

Peter Costello Treasurer, Commonwealth GovernmentShanahan, D (2002) “No escape on ageing: Costello”, The Australian,

09/08/02

© BWA 2004

The Proportion of the Australian Population that Participates in the Labour Force

0

10

20

30

40

50

60

70

80

90

15-19 20-24 25-34 35-44 45-54 55-59 60-64 65+Age Group

ABS: Labour Force - 6203.0 - August 2000

Parti

cipa

tion

Rat

e (%

)

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1982-1992

<4568%

45+32%

1992-2002

<4528%

45+72%

2002-2012

45+85%

<4515%

Labour force growth

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“Access Economics has reported that the working age population* grows by 170,000 people a year.

But trends already in place will see the working age population grow by just 125,000 for the entire decade of the 2020’s.”

*15-64 years

Population Ageing and the Economy Jan 2001

Labour supply

© BWA 2004

BWA labour supply projections show that at current rates of GDP labour will be in short supply by the end of this decade and continue to worsen in the foreseeable future.

However, increasing the participation of workers over the age of 55 will contribute more to securing labour into the future than high levels of migration.

Labour supply

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What are the drivers for age management in the context of your organisation/industry –consider the internal and external environments political, economic, environmental, social, technological.

What is the optimum age profile for your organisation?

Is it age balance? How do you define age balance?

Critical questions

© BWA 2004

Responding strategically

Organisational

Age Profile

Acquisition

Progression

Job mobility

Job depth

Flexibility

Leadership

Learning

Health

Exit

Return

Retention

Ageism

Age Management

Strategy

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© BWA 2004

© BWA 2004

Summary

There is no doubt that retaining workers in the 50 plus age group will be increasingly critical to labour supply

Active interventions will be needed encourage retention and to ensure ongoing motivation and attachment to work

This will be best supported by an evidence based and integrated strategic approach that takes a life course perspective and identifies short, medium and long term priorities

© BWA 2004

Summary

Attention will need to be given to age stereotypes and their impact on the development and progression of workers as they age.

This may be best addressed through action and the development of age aware leadership and management development

© BWA 2004

Summary

There is no doubt that retaining workers in the 50 plus age group will be increasingly critical to labour supply

Active policy will be needed however to encourage retention and to ensure ongoing motivation and attachment to work.

Attention will need to be given to age stereotypes and their impact on the development and progression of workers as they age.

© BWA 2004