Resources

Citation

Plummer, H. (2012), "Resources", Strategic HR Review, Vol. 11 No. 4. https://doi.org/10.1108/shr.2012.37211daa.011

Resources

Article Type: Resources From: Strategic HR Review, Volume 11, Issue 4

Get Involved! – an event for The European Year for Active Ageing and Solidarity between Generations 2012, London, UK, 6 March, 2012

Helen PlummerHelen Plummer is UK local coordinator at EYAA

A debate about “The benefits of a multi-generational workforce” took place at Europe House in London on 6 March for the launch of the European Commission’s European Year for Active Ageing and Solidarity between Generations 2012.

Baroness Greengross, Cross Bench Member of the House of Lords and chief executive of the International Longevity Centre UK, chaired the discussion and asked participants to reflect on how we are living longer and staying healthier than ever before – and to realize the opportunities that represents, especially around employment.

A coordinated approach required

Dr Amlan Roy, head of Global Demographics and Pensions Research at Credit Suisse, believes that we all need to coordinate better and share knowledge to develop holistic solutions that encompass pensions, health, education, taxes and labor policies in order to prepare for an ageing world in the UK and Europe.

He thinks that in the UK more people work at age ranges 55-64 than in other European countries, not because they want to, but perhaps because they have to as the public pensions are less generous in the UK relative to most European countries.

He highlighted that women are a larger fraction of the total population at older ages, therefore important for EU societies to focus on increasing their employment rates while improving their health and education.

Thinking creatively and realistically

Think Tank Demos deputy director, Claudia Wood, believes that we need to think more creatively about older people in the workplace to capitalize on their experience and expertise. Rather than just working longer, older employees could be redeployed – job sharing with younger employees, mentoring and training people coming up the ranks, and so on – and given more flexible working options.

James Bevan, director at CCLA Investment Management Ltd, believes that not for profit organizations can demonstrate the benefits of multi-generational workforces and, importantly, while some not for profit organizations might not be able to afford higher salaries, they have found ways to make up for the difference in pay and enhance overall compensation.

He believes that when it comes to crafting rewards that will attract multiple generations, the attractiveness of employment benefits hinges on a worker’s stage of life and career – perhaps more so than the person’s age or generation. And while age and stage are aligned for many, they aren’t for everyone.

Bloomberg News’ London bureau chief, Mark Gilbert, believes that investors do not want to talk about demographics because it is just too scary and too big to confront. Clive Bolton, at retirement director at Aviva, feels that the recession has caused people to be much more realistic about when they are going to stop work and an expectation to retire to the golf course at 55 seems a distant memory. As retirement plans become much more individualistic there is a clear need for an explicit debate between the generations on who pays for what.

Fostering an active aging culture

A recent Eurobarometer survey on active ageing published in January 2012 found that 64 percent of people in the UK consider their country to be “age friendly.”

László Andor, EU commissioner for Employment, Social Affairs and Inclusion, has stated about the year:

The key for tackling population ageing is to ensure that, as people grow older, they can continue to contribute to the economy and society, and to look after themselves for as long as possible. This is what we call active ageing. We need to foster an active ageing culture in the Union that includes – rather than excludes – older people.

With so many different ideas and opinions, Baroness Greengross concluded by asking everybody to reflect on our ageing population and to contribute towards the year by thinking about what you could contribute and contacting the UK’s national co-ordinator, Jo Corkett, who works within the Redefining Retirement Division in the Department for Work and Pensions. Her e-mail is EY.2012@DWP.GSI.GOV.UK and the web site is www.dwp.gov.uk/policy/ageing-society/european-year-for-active-ageing/

For more information

The European Commission’s EY2012’s web site is europa.eu/ey2012/