Talent Management
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By Suzanne L. Cook, Ph.D.

The workforce is aging. In addition, older workers are no longer accepting conventional retirement. Ignoring these trends can be detrimental for organizations, and HR has a key role to play in addressing these issues.

An aging workforce

According to Statistics Canada, the median age is now 40.5 years in Canada and those over age 65 now outnumber individuals younger than 15. Population aging and the shrinking of the workforce have been ongoing concerns, because the large number of baby boomers equates to a larger proportion of individuals in the second half of life. This means higher numbers of mature and older workers in the workplace.

Rejection of traditional notions of retirement

Increasingly, as older workers enter their 60s, they are not retiring; instead, they are weighing their options for later life work. Working past traditional retirement age is becoming increasingly common during later life, whether adults aged 50 and over remain in their current occupation or pursue second careers.

With the intersection of these two workplace trends, greater numbers of older adults are participating in today’s workplaces than ever before. Furthermore, they are expected to remain in the workforce longer than in the past. As the trend toward later life work among the growing population of older adults builds, this shift is impacting organizations in many ways. Naturally, HR must be at the forefront. There are five steps that can be taken to address this new workforce shift.

Identifying new career pathways

In the workplace, traditional career paths have shifted and it is more difficult for individuals to build their pathway, connect into new opportunities and advance their careers. With the movement beyond traditional career trajectories into the new emerging reality with our aging workforce, HR plays a key role. In fact, identifying common career pathways and developing additional career trajectories will engage workers – both young and more mature.

Adjusting the organization with HR strategy

It is important to recognize the opportunity presented by having older workers in the organization. It is equally critical to be aware of how identifying and meeting the needs of these workers can advance organizational strategy. One way to realign the organization and adjust to the aging workforce is for HR to develop an understanding of older workers’ issues and needs. This is a critical step towards building additional knowledge of this new emerging later life career stage.

HR needs information about how to direct older workers and their career development as they explore and consider new opportunities. In addition to identifying pathways, HR can also build unique opportunities that meet specific organizational needs, such as mentoring programs and special projects. These types of programs in the organization can stimulate knowledge transfer and tie into succession planning strategy. This builds a strong intergenerational workplace. Therefore, these types of programs should be workplace priorities for every high-achieving organization.

Redirection reset button

In some cases, those aged 50 and older might want to press the reset button; they might be ready to pursue a new occupation or career. Sometimes this can be achieved through a lateral move or the challenge of an attractive new project that benefits the organization while appealing to the individual. At other times, a second or third career is a better match and becomes the best choice for a “new direction.” Either way, HR can act as a guide and provide information that can help this decision-making process.

Career options offer a new challenge

A new opportunity has great appeal. HR can take steps to understand what individuals aged 50 and over want as their next work challenge. Do they want to redirect into a different occupation or career? Is there a project that they would welcome, something that will make use of their unique contributions and enhance their career development while benefiting the organization?

New stage of career

Older workers have a contribution to make to organizations. There is a push to move beyond traditional notions of retirement. The old images of a relaxing retirement do not mesh with current realities. More individuals expect to work into their 60s and even longer.

Career development and career decisions will continue to be important to older adults and HR can act as a guide and instruct them. In fact, it is critical for HR to have deeper conversations about later life work rather than conventional discussions about pensions and benefits as individuals prepare for this stage of life. This is the new reality where career development extends into the second half of life.

New study about work

Older adults entering into this new stage of later life career, choosing the “reset button” and shifting gears is the focus of the new research project funded by the Canadian Education and Research Institute for Counselling (CERIC). This study will examine this new stage of career through diverse examples of occupation. It is hoped that many adults aged 50 and over will participate and share their experiences of later life work.

Looking to the future

In Canada, there are more adults aged 50 and older in society and they are remaining in the workforce longer than ever before. Going forward, HR has several questions to ask: in the workplace, what proportion of workers are 50 and over? In what ways are career development needs being considered for these workers? How does this tie into the overall organizational and HR strategy?

In Canada, there is an aging workforce and a rejection of conventional notions of retirement. The current generation of older workers is healthy and interested in lifelong learning. Life expectancy has lengthened and individuals can be productive longer if they choose to remain in the workforce. Older workers can continue to make a contribution in the sphere of work. New career pathways, alignment with organizational strategy, “redirection” options and special programs can be identified and developed for workers aged 50 and over. In addition, different conversations with older workers are required now that working lives have extended. All of this will help make this new stage of career an organizational asset. By implementing these steps, HR can be forward-thinking and ahead of the curve with the career needs of an aging workforce.

Suzanne L. Cook, Ph.D. is a social gerontologist and adjunct professor in the Department of Sociology at York University. Her research project examines workers aged 50 and older who continue to work and are pursing a new direction through second (or third) careers.

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