The Evolving Workplace: The Seven Key Drivers of Mature-aged Workers

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The Evolving Workplace The Seven Key Drivers
ofMature-aged Workers

• Peter de Boer
• 27 February 2007
• MACROC Macarthur Regional Organisation of
  Councils

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Global Resources, Local Application.

• 110 Offices across 20 Countries
• Able to draw candidates from a vast global
  network
• Access to the latest people management trends,
  technology and tools

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with 29 offices and 1,700 staff in Asia-Pacific
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Hudson Greater Western Sydney

• 36 staff
• Based in Parramatta
• Representing all Hudson business lines
• Autonomous regional focus
• Major projects in 2006 Southern Highlands
  location

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How Hudson is positioned to meet your needs..
Office Support
Career Management Outplacement
International Trades
Employment Branding
Jobshare
Accounting Finance
ITT
Financial Services
Sales, Marketing Comms.
Technical Operations
Human Resources
Legal
Government
Customer Contact
Assessment Development
Professional Support
Industrial
Talent Acquisition Onboarding
Internal Mobility Solutions
Talent Optimisation
Trade Industrial
SERVICE SUPPORT RECRUITMENT
TRADE INDUSTRIAL RECRUITMENT
EXECUTIVE AND SPECIALIST RECRUITMENT
TALENT MANAGEMENT
MANAGED SERVICES
SECTOR AND CLIENT RELATIONSHIP MANAGEMENT
DOMESTIC INTERNATIONAL OFFICE NETWORK
PROFESSIONAL CORPORATE SUPPORT Quality 24 Hour
Response Centre Bid Management Pricing
Analysis Implementation Client Reporting
Technology Aspire Payroll Invoicing Interactiv
e Immigration Relocation OHS Industrial
Relations HR Finance Legal Risk Management
Marketing Facilities Procurement
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Hudsons Capabilities

• Attract
• Employment Branding
• Hudson Website
• Client Careers Site Development
• Third party job boards
• Print Advertising
• International Sourcing
• Market mapping and search
• Networking
• Targeted direct mail
• Direct applications
• Employee Referral Programs
• Graduate Campaigns
• Diversity specialists
• Alumni networks
• Open Evenings
• Careers Fairs

• Select
• Role Profiling
• Executive Specialist Recruitment
• Service Support Recruitment
• Trade Industrial Recruitment
• Temporary Placements
• Executive Contracting Consulting
• Assessment Centres
• Psychometric Assessment

• Develop
• 360 degree assessments
• Development Centres
• Interview Skills Training
• Coaching Solutions
• Education Training
• Outplacement

• Engage
• Employee Engagement Exit Surveys
• Role and/or Function redesign
• Individual Career Management
• Internal mobility Solutions

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Hudson 2020 Series

• The Ageing Population Implications For the
  Australian Workforce
• Breaking the Cultural Mould the Key to Womens
  Career Success
• The Case for Work/Life Balance Closing the Gap
  Between Policy and Practice
• The Generational Mirage a Pilot Study Into the
  Perceptions of Leadership by Generations X and Y
• The Evolving Workplace the Seven Key Drivers of
  Mature-Aged Workers

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A Bold Challenge

• From 2020 Australias working age population
  expected to grow by only 125,000 for entire
  decade. (Present annual increase 170,000).
• Peter Costello The biggest thing that's hit our
  society since industrialisation.
• John Howard Adapting to Australias ageing
  population is one of the top five "bold solutions
  Australia must embrace to meet the challenges of
  the 21st century".

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Global Labour Shortages
Unemployment Rates for Key Economies
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Participation and Unemployment

• The labour participation rate has increased
  slowly from 63.2 in 1991 to 64.4 in 2005. Over
  same period the unemployment rate has decreased
  from 9.3 to 5.1.

Source ABS
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Labour Force Growth will Slow to a Crawl
Compound Annual Labour-Force Growth Per Decade
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Evolving Job Market
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Macarthur Region
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Macarthur Employment Overview
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Macarthur Employment Overview
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We Need To Act Now
Source The Hudson Report, April 06
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How Do Industries Compare?
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The 2020 Research

• How can organisations retain mature-aged workers?
• Hudson commissioned market research company
  Instinct and Reason
• Small-scale focus groups and literature review
  conducted
• 14 work attributes found to underpin desire to
  work
• Knowledge workers surveyed to measure importance
  of the attributes

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Breakdown of Respondents
TOTAL SURVEYED 1,135 people
Accounting Finance 348 Human Resources 225 ITT
281 Sales/Marketing/Comms 108 Other 173
Male 741 Female 394
Australia 798
New Zealand 337
40-44 228 45-49 229 50-54 200 55-59 111 60 plus
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40-44 117 45-49 103 50-54 55 55-59 43 60 plus
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14 Key Work Attributes

• Able to work from home
• Flexible working hours
• Able to extend holidays throughout the year
• Plan to gradually reduce the number of days
  worked
• Access to lifestyle oriented retirement planning
• Access to financial advice
• Greater opportunity to mentor others
• Work still has new challenges
• Able to work in different areas
• Pay
• Recognition
• Reduce undesirable work
• Friendly work environment
• Commuting time to work per day

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Setting One

• Basic Working Conditions Offered for Full- and
  Part-time Employment

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Setting Two

• More Attractive Conditions Offered for Full- and
  Part-time Employment

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What Motivates Mature-aged Workers to Stay in the
Workforce?
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The Seven Key Drivers of Mature-aged Workers

• Commuting time to work per day
• Pay
• Friendly work environment
• Work still has new challenges
• Recognition
• Flexible working hours
• Able to work from home

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Snapshot by Age

• Key differences relate to work choice not
  drivers.
• Overwhelming selection of full-time and part-time
  work when offered favourable work conditions.
• The desire to consult/contract rises with the age
  progression of the sample.
• The desire to retire also rises with the age
  progression of the samplebut this is still
  significantly less than when basic work
  conditions are offered.

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What Can Employers Do Now?

• Develop an EVP that engages mature-aged workers
• Audit the ageing workforce
• Undertake workforce planning
• Review recruitment practices
• Re-focus training and development
• Introduce mentoring and coaching
• Focus on flexibility, remuneration, meaning and
  culture

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Large Financial Services Organisation
Induction Modification
Target Sourcing
Recruitment Tool Modification
AGE BALANCE STRATEGIES
Job Network Partership
Skills Training
Hiring Manager Education
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In Conclusion

• Employers can significantly reduce the number of
  mature-aged workers opting for retirement or
  other work options if they introduce more
  attractive working conditions.
• There are seven key drivers that directly
  influence a mature-aged workers decision to
  retire or remain in a full-time or part-time
  role.
• The Federal Governments target of a 10-15
  increase in workforce participation by 55-64 year
  olds is achievable if organisations are
  proactive.

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THANK YOU