G7 Countries Face Significant and Widening Talent Gap as Global Workforce Ages
Employers in the G7 countries
must end age discrimination in the workplace if countries and employers are to
be best positioned to thrive in the global economy tomorrow, according to a new
AARP study, International Profit from Experience.
The study, conducted by the global consulting firm Towers Perrin,
found that as the number of workers reaching traditional retirement years increase,
the marketplace is experiencing a decline in the number of skilled younger workers
available to fill in the ranks of those retiring. Even as companies and governments
implement policies to address this talent gap, the older worker faces an unwelcoming
environment.
“Older workers are a vibrant and contributing force to
the success of the global marketplace,” said Bill Novelli, Chief Executive
Officer of AARP. “Employers in the United States, and throughout the G7
nations, must actively work to retain the talent of older employees if they
want to maintain a competitive edge.”
The study finds that age discrimination is the single largest
barrier for those 50+ who want to continue working past their anticipated retirement
age. At least 60% of employees 50+ in each G7 country view age discrimination
as the primary barrier to securing new jobs, as opposed to only 38% of employees
that view their employers as welcoming of older workers.
“While the survey clearly identifies the talent gaps emerging
within G7 countries, the responses by employers do not sufficiently address
this challenge,” added Line Vreven, Director of AARP International. “Those
nations working to actively retain older workers and are providing incentives,
rather than deterrents, to their continued employment, will reap economic gain
in the long-run.”
Among the key findings, the survey demonstrates that:
* Older workers in the
G7 countries want to continue to work on average an additional 5 years, which
would have an immediate effect of bolstering the declining global workforce.
* Surges of immigration and productivity that might offset the anticipated
decline in skilled workers are unlikely to occur.
* While labor markets vary widely in each country, the growing competition
for talent will, in every G7 country, drive up labor costs.
* Allowing employees to continue working past their traditional retirement
age will not only allow older workers to remain in their careers and stay
active, but will have a positive impact on an employer’s bottom line.
The findings of the study
will be released at the AARP International Profit from Experience Conference.
Sponsored by AARP in partnership with the European Commission, the Business
Council for the United Nations and Nikkei, the conference convened international
opinion leaders for discussions on issues related to the aging workforce.
Additional information about
the study can be found on AARP International's website at www.aarp.org/2007profitsurvey.
Par
K.S. le
26-09-2007
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