Global Insights on the Multigenerational Workforce | AARP

Workforce Trends

According to this AARP report, “people ages 60 and older continue to outnumber children ages 5 and younger, and the 60-plus population is growing at a rate four times faster than the overall global population.” And as the proportion of older people and the length of life increase throughout the world, this trend has implications for an organizations’ workforce and talent strategy. This report, based on responses from 5,998 employers across 36 OECD nations, confirms that older workers are in the workforce in larger proportions. While 83 percent of global executives recognize that a multigenerational workforce is a key to business growth and success, only 6 percent have implemented unbiased recruiting processes. And, with the Covid-19 pandemic serving as an accelerant for forcing companies into many flexible work situations, this could be an opportunity for organizations to get creative and establish effective policies and practices that support and leverage older workers. The last page of this 8-page report provides a few high-level suggestions on how employers can strengthen existing policies and practices. While not in the report, other ideas can include creating a re-entry program for retired workers who want to come back to work in some capacity. Talent strategists should factor this important workforce segment into their talent plans.

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