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Three reasons why organisations should support retirement planning
Envisage - Create your future
In HR Daily today, I was asked ‘When should you talk to employees about retirement?’ It’s never too early, but we would recommend that by the time employees turn 50, their performance development review conversations should include the topics of future work intentions and retirement conversations. And organisations should be actively supporting their decision making about the future. Why?
- Forward planning allows for enough time to transfer knowledge. There is an opportunity to shape a mature employee’s role to support knowledge sharing activities.
- The more support a mature employee has in making work and retirement decisions, the more likely they are to experience a positive and productive career.
- By having a timely conversation about future working intentions, you may retain that mature employee for longer. They may work differently, but you can reduce recruitment and training costs and minimise knowledge risk.
65 ain’t 65 anymore
Posted by Alison in Commentary, Media on September 29th, 2011
Just as 40 is the new 30, 65 ain’t 65 anymore
writes Greg Jericho in The Drum Opinion yesterday.
Last week the Daily Telegraph ran a front page story with the cheery headline “Graveyard Shift“, bemoaning that mature workers are being ‘forced’ to work longer. Not so, says Jericho. The facts support this counter argument, we are living longer healthier lives and mature workers have been steadily ‘working longer’ since 1983. A trend quite removed from the impact of the GFC and stock market fluctuations.
we should not be running front page stories about older people having to work, we should be running front page stories about what governments and employers are doing to encourage and help those over 65 to work
SageCo echoes these sentiments in an article published by Human Capital Online last week, sharing data gained from over 2500 mature workers in the past year on their future working intentions.
It comes down to individual choice (and of course ability) to continue working. For choice to occur, there need to be options available. For options to be available, organisations need to focus on reshaping the way we work and create space for the conversation.
81% stated they would continue to work, if they could work differently. The problem is that the conversation is not taking place, said Monroe
It is integral for leaders to be talking to the mature members of the team, and gauging their future work intentions, not their ‘retirement intentions’, which sends the wrong message to the older workforce.
hitting the ground running
On Monday, the Gillard Government announced the appointment of the Hon Susan Ryan AO as Australia’s inaugural Age Discrimination Commissioner.
In her new position of Age Discrimination Commissioner, Ms Ryan will be a dedicated advocate not only for older Australians, but also young people who might be affected by age discrimination
said Attorney-General Robert McClelland upon announcing the appointment.
Ryan is the independent chair of the IAG & NRMA Superannuation Plan, as well as honourary chair of the Australian Human Rights Group and ambassador to WomenAid Australia.
Ryan says her track record in the area of gender discrimination gives her confidence things will change, in legislation, culture and the workplace. On a personal note Ryan adds;
I’m 68 and want to hit the ground running!
Ryan takes the baton from Elizabeth Broderick, who has been at the forefront of keeping age discrimination issues firmly on the agenda.
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What’s your attitude to older workers?
Posted by Catriona in Commentary, Media on February 6th, 2012
Last week’s survey results featured in the Financial Services Council paper on ‘Attitudes to Older Workers’ spurned commentary in a number of mainstream newspapers and industry mags. Adele Horin wrote in the Sydney Morning Herald, the editor in the Australian commented – though not directly about the research, and Human Capital took the story up. The research paper is excellent and there are some pearls of quotes that we’ll tuck away. OK – I’ll share one with you now.
The topic of discrimination is of course very serious. But it intrigues me that over the eight years that Sageco has focussed on mature age workforce solutions, we struggle to find anything new under the sun. Except, of course, the fabulous new Age Discrimination Commissioner, Susan Ryan.
So, I asked myself the question, “What’s my attitude to workers (putting age aside)?”. Here’s my list as someone who has recruited and employed people for my various teams over the last 20 years.
I want ‘workers’ for my team who:
Hand on my heart, I can say that I’ve employed 24 year olds and 67 year olds who get big ticks against all five characteristics. If you’re a ‘mature worker’ , this is a gentle nudge to check yourself against this list. How do you fare?
To employers – maybe you need to write your own list. And seriously ask yourself: What does age have to do with it?
PS Want to found out how over 10 000 mature age workers have started to Envisage their own future and move beyond the attitudes they face? Come and try in February and March.
age discrimination, ageing workforce, SageCo Talk
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