Hrm Aging Workforce
Contents Introduction: 2 Impacts on Human Resource practices: 3 Labor and skilled labor shortage: 3 Age barriers: 4 Managing an aging workforce: 5 Fair employment practices and recruitment policies: 5 Training, development and job’s design: 6 Flexible working practices and outsourcing 7 Changing attitudes within organizations 7 Conclusion: 9
Word count:2,087 words
Introduction:
Managing the Aging Workforce today is one of the important topics for the world’s organizations. The increasing average life expectancy of populations does not only affect economic, social systems of countries and communities, but also has a strong impact onthe business activities of enterprises.The demographic changes rapidly will not only hitcountries such as United State, the Western European countries, Australia, or Japan, but also the upcoming countries as China, Singapore or Hong Kong. There are more than two million Australians aged 65 and over, and the number will double in the next 40 years. In Hong Kong, 11 percent of the population is 65 or older and this will increase to 25 percent in less than 30 years. Japan, with 20 percent of its population aged 65 years or over, has become the world’s most aged society, and this, combined with its extremely low birth rate means its population is projected to shrink by 20 percent over the next 50 years. Europe too faces similar demographic problems. By 2020 more than one in three adults will be at least 60 years old. (Raymond, 2010). How do organizations anticipate their workforces and even jurisdictions may change due to a potential increase in employee retirement? Therefore, the purpose of this report is to discuss the impacts that an aging workforce could have on Human Resource (HR) practices. Further, as a member of the HR Team, the report also would approach issues to ensure organization’s productivity and effectiveness is not compromised.
Impacts on Human Resource practices:
Labor and skilled labor shortage:
Word count:2,087 words
Introduction:
Managing the Aging Workforce today is one of the important topics for the world’s organizations. The increasing average life expectancy of populations does not only affect economic, social systems of countries and communities, but also has a strong impact onthe business activities of enterprises.The demographic changes rapidly will not only hitcountries such as United State, the Western European countries, Australia, or Japan, but also the upcoming countries as China, Singapore or Hong Kong. There are more than two million Australians aged 65 and over, and the number will double in the next 40 years. In Hong Kong, 11 percent of the population is 65 or older and this will increase to 25 percent in less than 30 years. Japan, with 20 percent of its population aged 65 years or over, has become the world’s most aged society, and this, combined with its extremely low birth rate means its population is projected to shrink by 20 percent over the next 50 years. Europe too faces similar demographic problems. By 2020 more than one in three adults will be at least 60 years old. (Raymond, 2010). How do organizations anticipate their workforces and even jurisdictions may change due to a potential increase in employee retirement? Therefore, the purpose of this report is to discuss the impacts that an aging workforce could have on Human Resource (HR) practices. Further, as a member of the HR Team, the report also would approach issues to ensure organization’s productivity and effectiveness is not compromised.
Impacts on Human Resource practices:
Labor and skilled labor shortage:
References: Raymond J. Stone, (2010) ‘Human Resource Management’, Seventh Edition, John Wiley and Sons Australia, Ltd. Alan Walker, (1998) ‘Managing an Aging Workforce – A Guide to good Practice’, European Foundation for the Improvement of Living and Working Conditions. (www.eurofound.europa.eu/pubdocs/1998/65/en/1/ef9865en.pdf) Edwin B. Flippo et al (1984), ‘Personnel Management’, Sixth Edition - McGraw-Hill series in management, McGraw-Hill Book Co, Singapore. Nancy R. Lockwood, (2003), ‘The Aging Workforce – The reality of the Impact of Older Workers and Eldercare in the Workplace’, Society for Human Resource Management. (www.ispi.org/pdf/suggestedReading/1LockwoodAging.pdf) Patrickson, M. & Hartmann, L. (1995).‘Australia’s ageing population:implications for human resource management’. International Journal of Manpower, Vol. 16 No. 5/6, 1995, pp. 34-46.© MCB University Press,0143-7720 ‘The Aging Workforce and Human Resources Development Implications For Sector Councils’. (2003), Malatest and Associates Ltd.(http:// www.malatest.com)