Job Termination
Surveys show over-60 age group remaining in workforce, adding to workplace challengesCanadians rejecting early retirementTwo studies came out last week that, taken together, illustrate a massive change taking place in the workplace -- something that you would be wise to take under advisement. |
|
 [ 2007-05-30 ] |
© 2007 Jupiterimages Corporation
The first study, from the HSBC Bank Canada and conducted by Oxford University's Institute of Ageing, says Canadians -- among others -- are rejecting early retirement.
WANT TO WORK
In fact, the study says that people not only expect, but want to continue working rather than retire early.
It goes on to say that people the world over are now able to live the lives at the age of 70 that previous generations would have enjoyed at 50.
"People in their 60s and 70s generally feel in good health, and there are only small differences between people of this age and those in their 40s and 50s in terms of control and quality of life," the study says.
What this means, in a nutshell, is that people are living longer, staying healthy longer and want to remain in the workplace longer than ever before.
Currently, around the world, large proportions of the over-60 age group remain in the workforce.
"In the mature economies, between a fifth and a half of men and women are still in work in their 60s, while in the U.S.A. a fifth of those in their 70s are still employed," the study, which surveyed 21,000 people in 22 countries, found.
The study concluded that "employers need to recognize the value of older workers and that they can be a considerable asset to workplaces."
The second study, from Monster.ca, shed some light on what the HSBC's study means in the workplace.
It said that about nine out of 10 workplaces today employ up to four generations of workers and nearly half of the Canadians who work in a multi-generation environment admit to experiencing a clash with older or younger workers.
"For the first time in Canadian history, there are four generations of people in the workforce at the same time," said the company's vice-president Gabriel Bouchard. "These different generations have grown up experiencing significantly different events that have shaped their values and beliefs. As diverse generations cross paths on the job, we sometimes see a clash of attitudes, ethics, values and behaviours that can result in misunderstandings and potential conflict."
About 40% of those polled said a multi-generational workplace adds some challenges to the job. However, 22% said such a workplace provides a learning opportunity for all, and 27% said age differences weren't even noticed.
A second poll by the same company showed that those born to the baby boom generation (1946 - 1964) cause the most workplace challenges -- with those both older and younger than themselves.
"CHRONIC LABOUR SHORTAGE"
"The chronic labour shortage and the phasing out of mandatory retirement in much of the country has many aging boomers working well into their golden years alongside recent college and university graduates," Bouchard said.
As Canada experiences a labour shortage, it is increasingly important for employers to better understand generational values -- understanding these differences will be key to attracting, maintaining and retaining a productive workforce.
And this is where you come in. If you take the time to understand the differences and challenges between the generations of workers, you can better exploit the situation to position yourself within your company -- and certainly within the workforce.
As they say, knowledge is power.
P.J. Harston is Sun Media's National Business Editor. Reach him by e-mail at pj.harston@sunmedia.ca, read more of his columns on Canoe's Money website or on his blog at blog.canoe.ca/funbiz.
Do you aspire to appear on reality TV?