Ageing Workforce Ready – supporting workers nearing retirement

There are many myths about older workers. Most of them are outdated and do no favours to the older members of your workforce, or recognise the experience they bring to the table. A project led by workplace experts Transitioning Well for AustralianSuper has found the maturity these workers offer businesses can positively influence culture – as well as the bottom line.

Australia’s population is getting older. This is likely to create both challenges and opportunities for organisations. So significant are these changes, the CSIRO named the ageing workforce as one of 6 ‘megatrends’ in occupational health and safety over the next 20 years. Despite this, many Australian companies have been slow to engage with the realities of an ageing workforce.  

The Ageing Workforce Ready project (AWR) explores how to support workers’ well-being as they move from late career stage into retirement. If you manage an ageing workforce, consider the extra value older workers bring to your business and how you can support them.

The AWR project explored some common myths about older employees in the workforce:

1. Myth: Mature age workers cost business more due to their experience
2. Myth: Older workers have lower productivity
3. Myth: Older workers don’t understand technology
4. Myth: Older workers are counting the days until they retire

How you can support older employees in your business

Make sure you’re aware of the common myths and the facts so you can support your workers. To get started, the AWR project has identified 4 key pillars your workplace can use to review support for older workers:

• Recruitment: Policy, practice and hiring outcomes in relation to older people.
• Retention: The extent to which people feel supported to stay productive and mentally healthy.
• Retirement: Mechanisms to support a smooth transition from work, from the perspective of both the individual and the organisation.
• Roadmap: The tools the organisation uses to guide and adapt its approach to supporting older workers.

To read more, please visit australiansuper.com/superannuation/superannuation-articles

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