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Feeling the impact of an aging workforce

It is estimated that more than half the workforce in Australia and New Zealand is now aged 45 years and over – a stark contrast to past decades where the median workforce age was ten or more years younger.

The impacts of an aging workforce are already being felt in many organisations across Australasia. In fact, in 2012 35% of business leaders, 30% managers and 19% of employees said their organisations were already feeling the impact.

Employees, managers and leaders perceive that the aging workforce will have a more negative than positive impact on the organisation, with 41%, 55% and 49% respectively anticipating a negative impact on their organisation.

An aging workforce creates challenges for the organisation and its ability to function effectively into the future. Being able to plan for the succession of older employees while providing avenues for the development and growth of all employees becomes more difficult as the age profile becomes skewed.

Has your organisation implemented any initiatives to deal with an aging workforce?

From LMA’s L.E.A.D. Survey book “Today’s workplace – Present realities…Future realities”, 2013
Available for purchase, click here to order a copy of the book.