The longevity dividend: Work in an era of 100-year lives has been saved
The longevity dividend: Work in an era of 100-year lives
People are living longer, and organisations are shifting their attitudes toward older workers as a result. Organisations that can turn advancing worker age into an asset could gain a competitive advantage.
Forward-looking organisations see extended longevity and population ageing as an opportunity.
Fifty-four percent of South African respondents state that age has no impact on their organisation’s cultural perception of workers over the age of 55.
While 43 % of respondents claim that their organisation’s strategy in response to the ageing workforce is to modify and create flexible job roles, 77 % state that their organisation has a mandatory retirement age.
Proactive organisations are tapping into the older talent pool by extending their career models, creating new development pathways, and inventing roles to accommodate workers in their 50s, 60s, and 70s.
We recommend the following actions that organisations can take to address the opportunities and challenges of this trend:
Staying competitive in a world of unprecedented longevity demands that organisations adopt new strategies to engage with older talent. Traditional assumptions—that learning ends in one’s 20s, career progression ends in the 40s, and work ends in the 60s—are no longer accurate or sustainable. Rethinking workforce strategies across multiple generations to account for longer lives will require open minds and fresh approaches.
• Understand the digital influence on careers
• Rethink development of individuals over a longer term career span:
– Assess the critical and ongoing role of personal and career development on a regular basis.
Please click here to view the Global Human Capital Trends Report.