How 50 companies are empowering older workers
Including older workers is an untapped source for growth. People are living and working longer than ever before, with multiple generations often working side by side.
The world has entered a new phase of demographic development: people are living and working longer than ever before, with four to five generations working side by side. By 2050, more than four in ten individuals in the world’s most advanced economies are likely to be older than 50. The World Economic Forum is collaborating with the OECD and AARP on this unique project to research the benefits of an age-inclusive workforce.
This project will seek to build consensus among stakeholders on principles and best practices and business rationale to support a multi-generational, inclusive workforce. Over the next two years to 2023, research will include: i/ Worker retention - the frequency of turnover/retention in OECD labour markets, the consequences for business, why key employees leave or stay, what can be done to keep good workers longer; ii/ Career transitions - the frequency and type of transitions workers are making as they age, who is likely to make a career switch, and the barriers they face to making successful transitions. The project will also examine how policies involving healthy aging, career advice, training and employment support can facilitate these transitions.
By adopting age-inclusive policies, enabling employability throughout one’s lifespan, and empowering people to make informed, proactive decisions around their retirement, stakeholders can help foster a multi-generational, inclusive workforce of the future.