People Systems and an Aging Workforce

Statistics from 2020 show the average working age in AU and NZ was between 37 and 40 years. Also 22% – 25% of the overall workforce is 55 years and over, with this participation rate increasing steadily over the years.  

So, you may ask, what role can People Systems play in supporting an aging workforce? Well, there are quite a few ways these systems can adapt to accommodate the changing needs of older employees.  

  • Supporting Flexible Work Arrangements – an aging workforce may need more flexible work arrangements to suit their changing needs. People systems can facilitate the processes and capture of these work arrangements such as part time work, job sharing and remote work.
  • Training and Development – to help the aging workforce stay engaged, productive and feel relevant in the workplace, people systems can support training and development opportunities and initiatives focused on upskilling, reskilling, and transitioning to new roles or careers.
  • Succession Planning – to retain knowledge within the organisation or business and ensure the workforce remains productive and effective, people systems can support succession planning to identify key roles, competencies and develop strategies to transfer knowledge from the aging workforce to other employees.
  • Health and Wellness – people systems can support the promotion, delivery and tracking of health and wellness programs to support an aging workforce such as wellbeing support, exercise programs, ergonomic assessments etc.
  • Aging Workforce Policies – people systems can provide a platform to promote and inform the organisation around relevant policies that support an aging workforce such as diversity, equity and inclusion and discrimination, training, and development programs.
  • Reporting and Analytics – lastly, people systems can provide the data to help identify, develop and monitor the various metrics around an aging workforce that support a number of initiatives and strategic objectives.

As you can see based on the few examples above, People Systems can play a critical role in supporting an aging workforce by providing the necessary and critical tools, resources and policies.  

Are your current People Systems able to support your aging workforce?

Author – Kimberly Cignoli