+ The Ageing of Business + The Business of Ageing

Transcription

1 The Ageing of Business + The Business of Ageing Geoff Pearman New Zealand & Australia PARTNERS in CHANGE

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3 Where I plan to go Proposition The Presentation Despite all the research, reports and descriptive analysis, what is generally missing are strategic frameworks and systemic interventions that engage business and regional economies in managing the risks and realising the opportunities of an ageing population. The Model Engaging Business Staying On Engaging Regional Economies The Business of Ageing

4 Individual Enterprise Economy Value of the older worker Business Risks Regional Economic Development Antidiscrimination Retention Engagement Productivity Labour Market Dynamics Diversity and Inclusion Knowledge Contribution Wellbeing Consumer Behaviour Silvers market Retirement Planning Transition Management + Innovation for a global market Shoulds Staying On Growth Advocacy Business Strategy Economic Growth The Ageing of Business The Business of Ageing

5 Individual Value of the older worker Antidiscrimination Diversity and Inclusion Retirement Planning A D V O C A C Y Shoulds Advocacy + The Ageing of Business

6 Individual Value of the older worker Antidiscrimination Diversity and Inclusion Retirement Planning Shoulds Advocacy + Enterprise Business Risks Retention Engagement Productivity Knowledge Contribution Wellbeing Transition Management Staying On Business Strategy The Ageing of Business

7 MAWS Mature Aged Workforce Strategy

8 Risks 1. (Changing) Labour Market 2. (Increasing) Financial Costs 3. (Damaged) Brand & Reputation Not for Profit Youth Aged care Community Residential Mature aged workers are the core of our workforce profile. Our strategies have to reflect the needs of this group. HR Director Ageing in place and the increasing frailty of our clients and residents on admission means we have to correspondingly recognise and value the skill and loyalty of all of our workers, especially mature age workers whose experience is proven. Putting in place initiatives to encourage our staff to stay on, stay healthy and engaged is just good sense. Geoff Batkin Executive Director Strategies 1. Create an age friendly culture 2. Attract & employ right people 3. Retain our best Numbers 2250 staff 60% over 45 = % over 50 = % over 60 = 360 Case Study Mature Aged Workforce Strategy

9 Risks 1. Changing labour markets 2. Loss of staff in critical clinical fields 3. Provision of a sustainable and safe service 4. Productivity, disengagement New Zealand is facing a looming health crisis in the number of nurses.what do we do to retain nurses in the workforce after the recession? What does a third age career look like for nurses? It s not shift work and manual work obviously. Professor D Gorman Health Workforce New Zealand District Health Board Workforce issues may prove to be the greatest challenge facing health systems in the future. Cornwall and Davey 2004 Strategies Retention Flexi Health & Wellbeing Case Study Numbers 6800 staff 50% over 45 = % over 50 = % over 60 = 800 Workforces in workforce Mature Aged Workforce Strategy

10 Staying On Program Licenced Program Staying On Website Policies Conversations Workshops Engage Engaging with an ageing workforce [managers] Staying On Advisors Alumni Resources An age friendly employer of choice. This is more than a training program it is about a culture change in our organisation over the next 2-3 years. Manager Converse Revitalise Having effective Staying On conversations [managers] Thinking about my career [employees] Core Message We want you to stay on but we want you to be engaged, actively contributing to our organisation and healthy. If you do move on then we want to stay connected with you. Explore Creating a future beyond work [employees]

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12 Individual Enterprise Economy Value of the older worker Business Risks Regional Economic Development Antidiscrimination Retention Engagement Productivity Labour Market Dynamics Diversity and Inclusion Knowledge Contribution Wellbeing Consumer Behaviour Silvers market Retirement Planning Transition Management + Innovation for a global market Shoulds Staying On Growth Advocacy Business Strategy Economic Growth The Business of Ageing

13 9 Questions 1. What are the risks for the regional and national economy of not recognising the impacts and opportunities from the ageing of the population? 2. What impact will an ageing population have on the availability of current and future skills in the region? 3. Who and where are the at risk industries and sectors? Do they have strategies in place? 4. Are our large companies actively addressing the risks they face from the ageing of their workforces? 5. Do we know what the impact will be when small-tomedium business owners exit? 6. What is the cost to the regions/national economy of not harnessing the skills and experience of older workers? 7. What is the value of the silver market to the regions/national economy? Is there an opportunity to tap into a new global market? 8. What are the opportunities to be innovating new products and services for the global seniors market? Is there a niche opportunity? 9. How does the regional/national government create the conditions required to not only manage the risks to the economy but to significantly benefit economically?

14 Maintaining business as usual will be challenging. Firms that invest in understanding the subtleties of demographic change will be better placed to address its challenges. NZIER The Business of AGEING Managing Risk and Realising the Economic Potential of an Ageing Population

15 Thanks Geoff Pearman E: W: PARTNERS in CHANGE