Many Obstacles Still Face Elderly Workers
Please note that we are not authorised to provide any investment advice. The content on this page is for information purposes only.
The latest ABS labour force statistics show a steady trend developing. Both the unemployment rate at 6.1% and the participation rate at 65% have remained stable since March 2015. This smooth trend bodes well for Australia as a whole.
The latest ABS labour force statistics show a steady trend developing. Both the unemployment rate at 6.1% and the participation rate at 65% have remained stable since March 2015. This smooth trend bodes well for Australia as a whole.
However, as an academic specialising in the ageing workforce, I am often more interested in the hidden issues that these statistics do not reveal. Often hidden is the discrimination mature-age workers experience in the workplace – particularly during the recruitment process. This includes anything from underemployment to intergenerational competition from younger workers who feel older workers are “blocking the way” to higher positions.
Other issues include incivility in the way others speak to them, exclusion from conversations and events, and ignoring ideas.
Age discrimination has lasting impacts
ABS data consistently shows that, despite their wealth of knowledge and experience, there is an over-representation of older workers in underemployment statistics. They experience countless problems, such as denial of additional work hours or experiencing unwanted cuts. Consequently, they unwillingly lock in to part-time or casual work.
Mature-age workers often face limited training and promotional opportunities. As a result, they have outdated skills and minimal career progression. Flexible working conditions are unattainable, with less of an opportunity to assume responsibility within the workplace.
With such obstacles, older workers are sometimes unable to have productive impacts in their workplace.
This is just the tip of the iceberg of age discrimination in the workplace.
Work-related age discrimination and mature-age unemployment and underemployment can have complex and far-reaching outcomes. It can impact an individual through their finances, physical and mental health, and overall wellbeing.
Older job seekers can become severely stressed and discouraged when searching for work. These feelings of frustration sometimes lead to self-employment, or “self-selecting” out of the workforce through unemployment or involuntary early retirement.
Mature-age people not in the workforce, or are chronically under-employed, frequently experience lower savings and superannuation. This legacy can stay with them for the rest of their lives.
In a broader perspective, low mature-age labour force involvement is economically unsustainable. To deal with this, the government is pushing hard to encourage extended working lives.
Engaging an older work population
Many often overlook the wealth of knowledge, experience, and skills that equips mature-age workers to apply leadership in workplace settings and projects. Most older workers have crucial business relationships and industry contacts. One cannot record this in a manual for others to read and easily implement.
Industries requiring specific skills and knowledge – such as the mining sector – are deeply concerned about losing this specialised knowledge as older workers retire.
Many organisations are responding in an attempt to capture this valuable knowledge. They are aiming to do so through knowledge transfer or succession planning, such as mentoring programs.
Mentoring programs positively and actively engage older workers, giving them a sense of value while retaining corporate knowledge within the organisation. However, reverse mentoring is also an option. Here younger colleagues can share their specialised skills and knowledge with their older colleagues.
Such programs are useful as they often foster intergenerational relationships. More importantly, they help break down the stereotypes that contribute to age discrimination.
HR and line managers need to apply an understanding and positive approach to how the ageing workforce can improve business. Many retail and finance organisations, with an older clientele, have been hosting targeted recruitment drives for mature-age workers in attempt to reflect their growing customer base.
However, organisations must be careful not to implement age-friendly workplace policies and practices with a “one size fits all” perspective. Older workers are not a homogenous group – they have varying and changing needs over their life course. Strong supervisor support based on a person-centred approach may prove far more beneficial.
As a society, we need to better understand and prepare for the impending issues facing ageing populations. Crucial to responding to these complex issues is an interdisciplinary, intergenerational, and international approach. We need to move away from silos and towards synergistic ways of thinking.
Closer partnerships between education providers and industry are necessary to encourage innovation and strong leadership in this area. Collaborations between researchers, policymakers, and industry will assist in the development of the skilled professionals needed in the rapidly expanding ageing sector. University programs are beginning to respond to the increasing demand for a more holistic set of workplace skills.
Such influences can shift the focus of ageing from catastrophe to opportunity – and remove barriers to older people leading healthy and productive lives.
Tackling hidden issues for older workers delivers wide-ranging returns is republished with permission from The Conversation