SageCo presentation.Alison Monroe Oct06 · Microsoft PowerPoint - SageCo presentation.Alison Monroe...
Transcript of SageCo presentation.Alison Monroe Oct06 · Microsoft PowerPoint - SageCo presentation.Alison Monroe...
Workforce AgeingCEDA Demographic Destiny
Alison Monroe, Director, SageCo Pty Ltd
Mobile 0433 233 591
www.sageco.com.au
what will we achieve?
� Risks and challenges of workforce ageing
� What are we seeing and what can work?
� Q&A
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our journey began here…
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and yet we continued to see this…
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the demographic cliff
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Access Economics
decline in labour market growth (thousands)
1980’s and 1990’s
2020’s and beyond
03 07 11 15 19 23 27 31 35 39 43 47
we are here
-2000
200400600800100120140160180200220
80 82 84 86 88 90 92 94
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what are the risks?© SageCo 2006
the risks include…� Critical skill shortages
� Longer fill time on vacancies
� Inability to grow your business
� Wage increases
� Decline in service levels
� Discrimination claims
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global challengesinclude how to…
� Avoid critical knowledge loss� Engage and retain mature staff� Create flexibility and redirection � Build productive multi-generational teams� Foster culture change to embrace diversity� Attract mature talent to fill the skill gap
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are they your challenges?
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…anything else?
� Avoid critical knowledge loss� Engage and retain mature staff� Create flexibility and redirection� Build productive multi-generational teams� Foster culture change to embrace diversity� Attract new mature talent to fill the skill gap
attracting maturity
� branding and profile � job advertisements � interview process � induction and training� reskilling/upskilling
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…age neutrality?
what’s the perception?
27 v 52 year old
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stereotyping
unwilling to change
slow
poor memory
expensive
higher injury rates
more sick leave
ignorant of IT
hard to manage
stuck in the past
poor culture / team fit
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myth busting
emotionally mature
committed
decisions based on experience
sound work ethic
lower OH&S costs
mentors and guides
loyal
eager to contribute
fastest growing IT take-up
AARP – Top 400 companies "American Business and Older Employees” report
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www.adage.com.au© SageCo 2006
www.adage.com.au
retaining maturity
� increased education and awareness� knowledge continuity� retirement assistance� job redesign � flexible work arrangements
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knowledge continuity 5 steps to get started…
1. Identify who holds the key to company wisdom2. Determine what knowledge is critical and at greatest risk3. Engage and motivate mature employees to knowledge share4. Provide a framework to retain this knowledge5. Establish communication and transfer methods e.g.
Explicit knowledge – databases, catalogues and other repositoriesTacit knowledge – workshops, seminars, mentoring programs
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retaining maturity
� increased education and awareness� knowledge continuity � retirement assistance� job redesign� flexible work arrangements
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Create redirection
‘Create’redirection
Life goals
Finances
Image
Relationships
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Health & wellbeing
Career
retaining maturity
� increased education and awareness� knowledge continuity � retirement assistance� job redesign� flexible work arrangements
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checklist for action� Risk assessment?� Ownership of ‘age management’?� Demographic profile?� Age audit?� Retirement intentions?� Mature worker attraction strategy?� Commercial opportunities?
…and if we don’t respond, how will this impact our business?
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“Demography is destiny, this is set in stone.
The only question is how we respond to the ageing of the population”Peter Costello
© SageCo 2006