Fact Finder: Hiring Older Workers

There is a Growing Talent Shortage in Today’s Workforce.

• Attracting talent is a struggle for more than two-thirds (69%) of organisations (RCSA).
• 94% of organisations believe that a diverse workforce is beneficial to their business (RCSA).
• Australia faces a shortage of more than 200K skilled workers over the next five years – and a deficit of 240K workers by 2016 (Standards Australia).
• By 2016 workforce exits will exceed workforce entries.
• Nearly 70% of workers who have not yet retired say that they plan to work into their retirement years or never fully retire (AARP).
• Half a million Australians are ‘underemployed’ providing scope for the rise of the flexible, experienced worker (ABS 2008).

The Solution is the Mature Age Worker!

• Older workers deliver an average net benefit of $1,956 per year to their employer compared to the rest of the workforce - a result of increased retention, lower rates of absenteeism, decreased costs of recruitment and greater investment returns on training. (Business, Work and Ageing)
• The 45-to-55 age bracket is the fastest growing labour market segment in Australia (AISR (2009), Experience Works).

• Older workers aged 45+ will stay with an organisation 2.4 times longer on average than under 45s (AISR (2009), Experience Works).

• Employer training grants of up to $5,000.00 are now available for organisations which hire mature age workers (http://www.deewr.gov.au/Employment/Programs/ExpPlus/Pages/default.aspx)
• Baby Boomers spend more time and money online than any other demographic (eMarketer).
• 86% of Adage.com.au jobseekers said they would be more inclined to purchase products and services from organisations who were committed to hiring maturity (Adage Survey).
• A 2006 ABS survey found that older workers were the least likely group to take days off due to their own illness or as a carer.

The Digital Baby Boomer

• 63% of boomers are online and are the largest generational segment online (31% BB, 28% Gen X, 23% Gen Y) (nineMSN).
• Australians aged 55-64 are the fastest growing users of information technology (nineMSN).
• 55% of Baby Boomers use the internet for research and information (nineMSN).
• 54% of Baby B have made a purchase online, compared to 52% of total population (nineMSN).
• There are over 2 million people over 50 on Facebook in Australia (Facebook)

Mature Age Women in the Workforce

In 2009 the contribution of total hours worked by women aged 45-64 was almost 15%. With a greater social acceptance of women in the workforce, increased education levels of women and greater diversity of household living arrangements it is likely this will only increase. Yet are employers who call themselves "Employer of Choice for Women" recognising this market in their diversity strategies and policies? 

Read more on Workforce Participation of Mature Women

Want to know more?

Find out more about the biggest demographic change the world has seen since the 1950’s by contacting Adage to discuss the challenge and how it will affect your business.

 Advertising to Baby Boomers and Older Workers

50Up our community partner

50 Up magazine and website www.50up.com.au has been launched to provide a platform for senior Australian’s, a vibrant and relevant force in Australian Society.

Currently there are 7 million people in Australia aged over 50, with 24,000 people turning 50 each month.

The over 50s market control 60% of all wealth, have more disposable income then any other age group, own their own homes, spend more on travel, entertainment, white goods, gardening, new cars, furniture, food and beverages, with over 78% now owning their own computer.

50 Up delivers rich editorial content relevant to the over 50s.

The website and print magazine offers interviews with celebrities, articles on health, investment, travel, technology, cooking, fashion, and much more.

If you want to target the market that holds more wealth than any other age group, you cannot afford to miss promoting your business, goods or services to the over 50’s then you need to advertise with 50 Up Australia.

50 Up will offer you as an advertiser a diverse audience, readership and market penetration in a lively glossy magazine.

We offer you a variety of print and digital advertising and we invite you to contact Robert Kearney on 0419-639-209 or email Robert.kearney@50up.com.au for a no obligation discussion.
50 Up Australia is part of Moose Media Pty Ltd

  Life Begins Here

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