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Older workers: Working forever? The ageing of the Australian population will have an effect on workplaces in coming years, as outlined in a paper by Fran Ferrier at the Monash University-ACER Centre for the Economics of Education and Training (CEET) annual conference in October. Several of the predicted effects of the ageing of the population, particularly the decline in the number of people in the labour force as more and more workers move toward retirement, are now leading to stronger attention internationally to ‘mature’ or ‘older’ workers and the need to keep them in the workforce for as long as possible. The OECD argues that currently many nations have public policies and workplace practices that discourage older people from continuing in paid employment. Many older Australians withdraw from the labour market well before reaching the official retirement age. The OECD argues that there is a need for ‘a co-ordinated and comprehensive package of measures’ that will: Facilitate later retirement while removing incentives to early retirement; Prevent disability benefits being used as a pathway to early retirement; Enhance the effectiveness of age discrimination legislation; and Strengthen older workers’ employability. As more people move into older age groups, the number of people leaving the workforce is expected to accelerate. However, two factors are helping to slow the speed of this acceleration: increases in women’s participation in paid employment; and rising levels of education among workers. People with higher levels of education tend to participate in the labour force at higher rates than those with lower levels of education. They also tend to stay in the workforce for longer. Recent research has found that training appears to be helpful in maintaining employment. However, increasing training opportunities requires that barriers must be overcome: stereotyped views of older workers held by employers, and the attitudes of some workers themselves towards education and training. The ability to retire early to enjoy a more relaxed lifestyle, is now and is likely to remain a goal of many Australians. Initiatives to encourage a longer working life will need to address this – and accommodate more flexible forms of workforce participation. The paper Older Workers: Working forever? was presented by Fran Ferrier, Senior Research Fellow, at the Monash University-ACER Centre for the Economics of Education and Training (CEET) National Conference in October. Further information is available at CEET website. « Back to eNews
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The ageing of the Australian population will have an effect on workplaces in coming years, as outlined in a paper by Fran Ferrier at the Monash University-ACER Centre for the Economics of Education and Training (CEET) annual conference in October.

Several of the predicted effects of the ageing of the population, particularly the decline in the number of people in the labour force as more and more workers move toward retirement, are now leading to stronger attention internationally to ‘mature’ or ‘older’ workers and the need to keep them in the workforce for as long as possible.

The OECD argues that currently many nations have public policies and workplace practices that discourage older people from continuing in paid employment. Many older Australians withdraw from the labour market well before reaching the official retirement age.

The OECD argues that there is a need for ‘a co-ordinated and comprehensive package of measures’ that will:

Facilitate later retirement while removing incentives to early retirement;
Prevent disability benefits being used as a pathway to early retirement;
Enhance the effectiveness of age discrimination legislation; and
Strengthen older workers’ employability.

As more people move into older age groups, the number of people leaving the workforce is expected to accelerate. However, two factors are helping to slow the speed of this acceleration: increases in women’s participation in paid employment; and rising levels of education among workers.

People with higher levels of education tend to participate in the labour force at higher rates than those with lower levels of education. They also tend to stay in the workforce for longer.

Recent research has found that training appears to be helpful in maintaining employment. However, increasing training opportunities requires that barriers must be overcome: stereotyped views of older workers held by employers, and the attitudes of some workers themselves towards education and training.

The ability to retire early to enjoy a more relaxed lifestyle, is now and is likely to remain a goal of many Australians. Initiatives to encourage a longer working life will need to address this – and accommodate more flexible forms of workforce participation.

The paper Older Workers: Working forever? was presented by Fran Ferrier, Senior Research Fellow, at the Monash University-ACER Centre for the Economics of Education and Training (CEET) National Conference in October.

Further information is available at CEET website.

Older workers: Working forever?