Diversity Council Australia’s
research project titled “Grey Matters: Engaging Mature Age Workers”
released today reveals baby boomers are challenging traditional notions of retirement.
The results report that,
for those mature age people not currently in the workforce, one third of all
respondents, and of those aged 60 years or under, a staggering 57%, would be
prepared to return to work if they were offered the right job. For currently
employed mature age workers one third would relocate and more than half would
consider doing further study for the right job.
DCA Managing Director,
Ms Rohan Squirchuk said, ”The research shows many of the stereotypes about
older people being inflexible and unwilling to work or learn new skills are
just plain wrong. These results indicate how future-orientated baby boomers
are.”
For those inside and outside
the workforce, flexible ways of working, opportunities for learning and development,
and an organizational culture inclusive and supportive of older employees are
key factors that influence their decision to work.
“Retirement used
to mean an abrupt end to one’s working life, generally at the age of 58
to 65 years,” said Ms Squirchuk. “Now it means engaging in work
in many different ways; there is still strong emphasis on family, friends, leisure
and community involvement but with active links to the workplace and active
ongoing participation in it.”
The Minister for Workforce
Participation Dr Sharman Stone was at the launch of the research in Melbourne
and told attendees that, with the ageing population, skills shortages and unemployment
at a new low of just 4.4%, more needs to be done to keep our baby boomers from
bouncing out of the labour market prematurely.
“In the space of
just 10 years, there has been a 70% cent increase in the number of people aged
over 50 staying in the workforce,” Minister Stone said. “Despite
the proof that mature age workers are more likely to be loyal (so less likely
to job churn), bring a maturity of outlook and a capacity to mentor the young,
some older qualified and experienced workers are finding it hard to get work.
“Many businesses
now offer age awareness education and training and modifications to workplaces
so that tasks can be performed by employees of all ages with varying levels
of ability. Other options such as permanent part-time work, job-sharing, home-based
work and career breaks can enable workers to better combine employment with
community or family involvement, undertake a graduated transition into the labour
market and phase their retirement,” Minister Stone said.
DCA believes its research
results are great news for employers and for Australia: “At a time of
strong economic growth and labour shortages, there is an exciting pool of talent,
ready, willing and able to work,” said Ms Squirchuk. “This research
combined with DCA’s expertise in workplace diversity gives employers valuable
information about how to better attract and retain talent in a tight labour
market.”
KEY RESULTS
Flexible working:
- Prior to retiring, the average hours mature-age people worked was 40 hours,
while they would have preferred to work 35.
- Many mature-age people not currently working are care-givers (in total, 40%
indicated they were care-giver of a child and/or grandchild or family member
with a disability or health issue or who was elderly).
- Having a job with flexibility, including hours of work, was important or very
important for 97% of those not currently employed.
- Employed mature-age workers indicated their top two ideal employment practices
approaching retirement would involve: flexibility in start and finish times,
and phased retirement.
- Mature-age people not currently working indicated their top employment practices
would involve: telework/work from home, a job with limited travel and flexibility
in start and finish times.
Lifelong learning:
- Around 80% of mature-age people not currently employed said working for an
organisation that was supportive of their learning and development needs and
careers was important or very important in influencing their decision to remain
in the workplace.
Inclusive culture:
- Some 97% of mature-age people indicated working for an organisation that was
supportive of older workers was important or very important in influencing their
decision to remain in the workplace.
About the research
- Funded by DCA members ANZ, IBM and the Australian Federal Police. - Survey
designed by DCA in conjunction with Associate Professor Graeme Russell from
Macquarie University.
- Nationally representative
sample of 1,000 Australians 45 years of age or over.
- Telephone survey conducted by AMR Inter-active.
About Diversity Council
Australia
DCA is the leading, independent, diversity advisor to business in Australia.
Our practical expertise and focus on solutions delivers improved performance
in the workplace.
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