Employers urged to adapt to ageing workforce

live_stream__one_news_at_6pm_592892052 Employers are being encouraged to turn silver hair into business gold by adapting their practices to retain older workers.

Workforce in NZ is shrinking, analysis shows businesses will need older workers to keep working.

BusinessNZ, Southern Cross Health Society and Gallagher Bassett study, titled Wellness in the Workplace, shows only 12.6% of NZ businesses have policies or arrangements in place for older workers.

turnover_rates_rising__employers_warned_1463761583Phil O’Reilly, BusinessNZ chief executive, says employers should take a close look at the age of their current workforce and plan to develop the human capital they already have.

He said over the next few years a large proportion of the workforce will approach retirement age, representing a lot of experience and wisdom leaving the market.
Mr O’Reilly says that just because they’re nearing the age of retirement doesn’t necessarily mean an employee wants to give up work but they may want more flexibility such as reduced hours of work, flexibility in working time, lighter duties and a degree of focus on transition to retirement.

A September TNS survey commissioned by Southern Cross showed that almost 40% of New Zealanders expect to work past the current retirement age of 65, citing needing the income as the main reason. READ MORE

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