AARP’s Post

I'm thrilled to announce the release of a joint report with Generation : “The Midcareer Opportunity: Meeting the Challenges of an Ageing Workforce”. Launched last week to an audience of experts and HR practitioners, our report presents the challenges and solutions needed for labour markets with more older workers. Some insights ⬇️ 🔸 A Major Structural Shift: The near future will see older workers making up a major share of the workforce. This is great news as it reflects the progress in longevity and quality of life. But it also comes with challenges. If our policies remain unchanged, we are headed for a world with a significantly reduced workforce, less mobility, diminished innovation, and slower growth. We need to adapt some of our policies to unleash the potential of an ageing workforce. 🔸 Longevity Comes With Challenges: Encouraging longer working lives is easier said than done. At mid-career, workers are more vulnerable to extended unemployment phases. Despite their desires to change jobs and their experience, they feel less confident in their capacity to learn and adapt. Employers are less likely to hire them. Notably, this is despite our new data suggesting that their performance matches younger cohorts. 🔸 Barriers to Transitions: In mid-career, workers seeking transitions often encounter many barriers. Our report presents which ones workers rank as the most important ones when looking for a transition. 🔸 Highlights: our findings emphasize the importance of training workers, improving training quality, and to champion age-inclusive practices, the need to tackle age-related biases in the workplace. Keen on deep-diving into our findings? https://lnkd.in/eR5qFmWn. With a particular thanks to the panelists Avivah Wittenberg-Cox, Stefano Scarpetta, Shruti Singh , Mona Mourshed, Maria Jepsen , Inger Paus, Aurelie Feld , and the fantastic moderator Pamela Druckerman. And even more particular thanks to the wider team that made this possible: Ryan Brellenthin , Dana Blumin,  Jennifer Sikes , Karen Salazar and Mark Keese

Is this me? Could this be you? I recently came across some rather interesting statistics on the hiring of over 50s in the UK from the OECD: 🔍 Only 30% of UK firms would consider hiring someone over 50 🔍 Only 13% of them would consider hiring someone over 56 🔍 Employers undervalue older candidates because of 'age-performance paradox' It seems that UK business, like the owner of this tractor seem quite happy to just leave this demographic to slowly rot. This is despite one in three British employees being over 50 by 2025. Like all predjudice, you don't really understand it fully until you experience it. I can empathise with those who have experienced gender bias, but I haven't really experienced negatively. This predjudice could, however, effect us all assuming we are fortunate enough to make that age. You may think you can hang in with your present job until retirement but companies have a knack of showing older workers the door. And then the challenge starts... This situation is soul destroying for those effected by it and who need or want to find work. It's also madness given the need for workers and the valuable contribution which older employees can make. After all, Jo Bidden is 81 and he is running the world's last super power. Well...sort of...but you get my point... #ageism #over50s #hiring #employment #jobs #recruitment

✨ The best workers come in all ages ✨ The #MidcareerOpportunity report we developed with OECD - OCDE shows how to combat bias and get the career you want at any age. Find out more 👉 https://lnkd.in/dh-sgihE

As part of the #passthepost relay my colleague Jason Jie has nominated me to share some insights related to #Deloitte's Human Capital Trends Report 2024. In this instance, I want to put some attention on today’s labour market in our region, its future, and the current approach that governments and organizations are taking to resolve some of the issues. We've published an article on this just the other day: https://lnkd.in/ecct7Z9N Egon Hoppe Frans Dagelet Frederike Rip In summary: ❕ Our local labour market is tight and will become ever tighter over time ❕ NL has one of the lowest percentages of people who are not in employment, education or training ❕ Current stats show that the ratio of retirees to workers is currently 1:3 and is projected to be 1:2 not too long from now ❕ Local labour market participation is relatively high, though there is room in worked hours per person ❕ This picture is not expected to improve anytime soon – it will only become more challenging (Sources: CPB, CWS, UWV) The Dutch government has definitely made a start in addressing some of the underlying issues in our labour market, however they are also missing out on some key opportunities: ⭐ Flex is good: The steps being taken to ‘fix’ the labour market should be adjusted, treating flexible work not as a threat to social security but an enabler of it. It can still go hand in hand with good social support! ⭐ Skill-based labour markets and talent marketplaces can and should be stimulated to open up talent pools and unlock a new productivity I'd like to nominate Giovanni Siviero for the next #passthepost! #workforcetransformation

Anybody over 40 knows there's an implicit ageism bias when it comes to finding a job. This global phenomenon is explained in this very comprehensive report published recently by the OECD/OCDE (full disclosure, I worked for them years ago). The AI acceleration may very well exacerbate an already problematic issue. Anybody recruiting talent would benefit from reading the paragraphic below from this report. "The workplace is changing constantly, driven by rapid, unending technological changes including the surge in artificial intelligence. Many employers point to such creative destruction to support their lack of interest in hiring or retaining more midcareer and older workers. As the OECD–Generation survey found, employers often express the belief that such workers are less willing than younger peers to learn new technologies and processes. And yet, despite such negative perceptions, the survey also found that when older workers do gain a chance to show what they can do, employers say that they consistently match or exceed the performance of younger colleagues. The testimony of the subgroup of employers with experience in hiring older workers confirms the reality of this “age-performance paradox. They say they are far more likely to hire older workers again, unlike employers who have yet to do so."

Based on the report, some key insights on career mobility for older workers include: 1. Job and occupational mobility decline substantially with age. Only 6.1% of workers aged 55-64 change jobs in a given year on average across OECD countries compared to 11.3% of workers aged 25-44. 2. Voluntary job changes can benefit older workers. On average, workers aged 55-64 who voluntarily changed jobs experienced wage growth of 3.5% between 2010-2020. They also often saw improvements in job flexibility, mental health, and workplace culture. 3. However, involuntary job changes are costly for older workers. Those aged 55-64 who were forced to change jobs experienced an average wage decline of 13%. 4. Low-skilled older workers face particular challenges with mobility. About 60% of low-skilled workers over 45 who change occupations move to another low-skilled job with minimal wage growth. 5. Key barriers to mobility for older workers include age discrimination, location constraints, and lack of suitable job opportunities. 6. Many older workers need more information and support to make job changes. Around 20% said they needed help assessing their skills or identifying suitable job types. 7. Training participation declines with age, but targeted training programs can help equip older workers with skills needed for job transitions. 8. Policy interventions like career counseling, training subsidies, and reducing barriers to geographic mobility can help facilitate better career transitions for older workers. 9. Supporting internal mobility within firms through practices like mid-career reviews is important, as within-firm wage growth is a key component of overall wage growth. The overall message is that while older workers face more challenges with job mobility, targeted policies and practices can help facilitate beneficial career transitions as workers age. Promoting "good mobility" that leads to better job matches and working conditions is key. https://lnkd.in/gJavTbUE

With 57% of older workers stating they’d be less likely to accept a job offer with an organisation that didn’t mitigate ageism, it’s important to understand what workers really want. Our latest What Workers Want report is here and this time we’re focusing on experienced workers. What do they want from their roles? Do they face ageism in the workplace? How can employers attract and keep older and more experienced workers? Our What Workers Want 2023: Older Workers report contains these insights and more, including tips to help your organisation best support experienced workers. Get your copy today https://lnkd.in/exgEWYTB

Quiet quitting is on the way out, with fewer Aussies changing jobs and those looking for a new role finding it more difficult, according to official data. The Australian Bureau of Statistics (ABS) found in the 12 months to February 2024, the number of workers changing employers fell to 8% — down from 9.6% last year and back to pre-pandemic levels. Most industries saw a decline in job mobility rates but arts and recreation services had the biggest drop at 5.4%, the Australian Broadcasting Corporation (ABC) reports. In a LinkedIn post, Bjorn Jarvis, ABS Head of Labour Statistics, wrote that more job seekers were finding it hard to secure work. "While generally still low, more unemployed people in 2024 said the main difficulty was that there were too many applicants for available jobs, that they didn’t have enough work experience, and that there were no vacancies in their line of work," he said. Recruiter Adam Geary advised job seekers to make themselves relevant to stand out from the crowd. "Make sure you align your resume to the role you're applying for and ensure you're using the right keywords and metrics to guarantee you're one of the people they contact about the role," he wrote on LinkedIn. What's your outlook on the job market? Have current economic conditions affected any intentions to change roles? Share your thoughts in the comments below. By Brendan Wong Sources Australian Broadcasting Corporation (ABC): https://lnkd.in/gJm8ASi2 Bjorn Jarvis: https://lnkd.in/grpKpz_f Adam Geary: https://lnkd.in/gcPBYBRf

Companies overwhelmingly prefer younger workers, despite the research suggesting midcareer and older employees perform as well or better than their younger peers. To resolve the age performance paradox, employers need to adapt their #hiring practices. Check out https://lnkd.in/dFmXSxz to find out more in our #MidcareerOpportunity research developed with OECD - OCDE #Ageism #AgeBias #MidcareerMoment #CareerChange #LifelongLearning #employability

“Retaining [older workers] in the workforce is key to sustaining high living standards in our economies,” Stefano Scarpetta, an OECD director said. “And with businesses struggling to recruit, it’s more important than ever that all stakeholders do more to make longer and fulfilling careers a reality for all workers, regardless of age.” What a very interesting and provocative article! Check out this article... https://lnkd.in/eaQZFThy