The Advantages of Old-Age in Kiwi Workplaces

A government study revealed New Zealand has the highest rate of working boomers among the countries of the OECD following the aging of its population. Their experience and help in increasing job loyalty made employers reconsider their importance in work environment.

According to a recent Department of Labour report‚ the amount of people aged 50-plus in the workforce more than doubled between 1991 and 2005‚ with New Zealand now having one of the highest participation rates in the OECD for this age group.

The figure applies to professional occupations in general‚ and to finance and business in particular. Professional employees had the fastest growth rate of older employees‚ with the number of 50 to 64-year-olds employed rising 95.8 per cent‚ from 43‚000 in 1997 to 84‚000 in 1995.

Kim Smith‚ division director of Robert Half Finance and Accounting‚ says the figures highlight the changing demographics of the workforce‚ which employers have to adapt to if they want their companies to prosper.
She welcomes the report‚ saying: "In hiring older workers‚ they get a lot of experience‚ and they get a lot of different ideas because older workers have experience from many‚ many different companies and sectors."
The Retirement Commission warns there was still progress to be made: "Age discrimination still exists‚"says Retirement Commissioner Diana Crossan. Robert Half consultants have noticed that some employers‚ particularly larger companies‚ were still reluctant to hire older workers.

"This labour market "revolution" is as significant as women coming into the labour market in the 1960s‚ 1970s and 1980s. Therefore workplaces will have to change to accommodate older workers‚ and older workers will have to adapt to ensure they keep their skills up to date and see themselves worthy of training‚" she says.

And companies will have to be more conciliating with this group. "Workplaces need to become more flexible for 'older' people (55-70 years). This can mean redefining what is understood by `family friendly'‚ as workers may be looking after elderly relatives or wanting more involvement with caring for grandchildren for example‚" Crossan adds.

As the population ages‚ employers are ageing too‚ she points out. "Perhaps the people making the hiring decisions are also ageing and recognise that they might one day be seeking work as an older person.

Meanwhile fruitful relationships are springing up between older generation workers and young graduates‚ says Kim Smith. "Baby boomers and Generation Y seem to get on really well‚ and relate to each other in a positive way. By employing baby boomers who can mentor and pass on their skills to young employees - who have much less job loyalty than older generations - employers can lessen the flight risk in that age group‚" says Smith.

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