GFC only a slight reprieve

Posted by Catriona in Media on February 9th, 2010

SageCo’s recent survey about the impact of the GFC on retirement and working intentions get’s some coverage in HC Magazine.

Anecdotal evidence to suggest that mature workers would hang on to their jobs and defer their retirement plans has been supported by results of a survey by ageing workforce specialists, SageCo.

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molehill versus mountain

Posted by Catriona in Commentary on February 8th, 2010

This article in The Economist neatly expresses what we often bang on about.

“Most companies are remarkably ill-prepared. There was a flicker of interest in the problem a few years ago but it was snuffed out by the recession. The management literature on older workers is a mere molehill compared with the mountain devoted to recruiting and retaining the young”

This is reality. It is not just about ‘preparing for an ageing workforce’ (like you might for Y2K in the hope that it never happens); it’s about MANAGING an ageing workforce.
The ‘molehill’ of management literature on managing an ageing workforce compared to the ‘mountain devoted to recruiting and retaining the young’ also reflects budget allocation by most organisations. In a word: CRAZY.

I’m not sure it is as difficult as The Economist makes out. It just requires a different mindset.

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a time to choose

Posted by Catriona in Commentary on February 2nd, 2010

We like Elizabeth Broderick’s comments on increasing mature age workplace participation.

“Genuine choice is the key to success in supporting and increasing mature age workplace participation – choice to work if we need to, choice to work if we want to,” Commissioner Broderick said. “Enabling this choice is important because, for various reasons, many people wish to work longer – and let’s face it, people have a right to work.”

Personally, I love seeing the lights come on for people in our workshops when they realise that retirement is just an assumption; they do indeed have a choice about creating their future.

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Intergenerational regurgitational

Posted by Catriona in Commentary on February 1st, 2010

Everything old is new again. Here’s a quote about the release of the ‘new’ intergenerational report out today:

The Government says improving workforce participation, skills and infrastructure are the keys to growing the economy and ensuring productivity improves.

We’ve been tuned into intergenerational reports for over seven years now; our business SageCo is pretty much based around this unprecedented demographic shift in workforce population. We’ve heard countless renditions of the same message; it’s not new news.

What is new is the approach that some organisations are taking to increase workforce participation of workers in ‘late career’. Interventions like:

  • individual phased retirement development plans
  • flexible working contracts
  • company sponsored retirement coaching
  • knowledge transition programs for specialists
  • job re-design
  • elder care leave

But if we have any hope of increasing workforce participation on a large scale, these solutions and more need to be part of the mainstream workforce management plans - not just special programs.

And another thing - we agree with SmartCompany, the ‘ageing generation’ is an unfortunate and unhelpful label. In the same way that this generation helped define the term ‘teenager’, they are redefining the notion of  ‘retirement’.

Lumping an entire generation into the “ageing” category is extremely limiting. Within this old fuddy-duddy group you have a huge array of very wealthy, sophisticated people with masses of money to spend – or leave behind. You also have a deep skill set, leadership skills and acquired wisdom.

Comments on the intergenerational report

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older and wiser talent pool

Posted by Alison in Media on January 18th, 2010

“Employers need to retain the talent, skill and knowledge of the triple decker sandwich generation” writes Julia Stirling in The Weekend Australian (16-17 January 2010), in an article featuring SageCo’s Alison Monroe.

Gareth Bennett from Freehills concurs. “People need to know that being a carer or a mature-age worker is not career limiting” adding that they need reassurance that they are an integral part of the firm and that leaders should encourage and indeed role model flexible work arrangements.

And so say all of us!

Full article

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