A Date with Demographic Destiny
Today in Canada, more than one in five working adults are nearing retirement. Clearly this will, and is, creating significant challenges for our workforce – a workforce that is now older than it has ever been. The implications are obvious and certainly one factor contributing to our labour shortages.
The concept of “unretirement” is new – so new, that the word has yet to land in the dictionary but a term the world of business should get to know sooner rather than later.. Research suggests that approximately 25% of those who retire change their minds and resume work within 5 years of giving up their jobs. Encouraging an older worker to retire to replace him or her with someone younger can have a negative consequence for business.
The traditional view that people hit “old age” at 60 to 65 no longer applies. Older people are fitter, healthier, more active and living longer than ever before. Organizations need to start planning now for the fact that those who reach the upper end of middle age are no longer on their way out – they are in fact in their prime.
One day not that long ago we experienced the reality of getting better with age. Then one night we went to sleep knowing this to be true and woke up the next morning realizing an opposite truth. Are we really no longer relevant as we age? Should we quietly go away?
The youth movement has gotten a lot of attention with much of it deserved. But not to the exclusion of the truth that this isn’t an ”either or” conversation. As the younger generations join the party it doesn’t mean the older folk should be asked to leave. Imagine the party we could have if we could blend the strengths, insights, diversity of thought and experience of all ages. If we could just get out of our own way so we can take advantage of this incredible force.
This date with demographic destiny is fast approaching and the very real increase in longevity is the economic equivalent of climate change. It is a crisis that must be addressed now, or we should prepare to face the consequences that will plaque future generations and put an enormous strain on our children and grandchildren.
Join us at The Experience Group. Drop us a note and share your story. Unretire and become Silver Seal Certified. Join other organizations who are becoming Age Smart Employers. Let’s make this date with destiny count.