At the barricades again: boomers fight age prejudice

In a global economy where billions of dollars of work and trades are done over the Internet every day and night, why can't older employees work from home one day a week? Why can't a mature age worker spend a day or two caring for his or her ageing mother or father at home rather than in a retirement village?

Why can't college and university students work as juniors in their intended career and attend day classes rather than having to flip burgers and conform to a work/study roster that defies logic?

The Australian Chamber of Commerce and Industry recently called on employers to consider the sound business case of employing mature-aged workers.

The benefits include loyalty, less turnover or sick days. Older workers bring experience, skills, mentorship potential, emotional maturity, good communication skills and corporate memory.

According to the Australian Government report, Realising the Economic Potential of Senior Australians, unemployed or under employed older people want to work longer. Up to 40 per cent of the 2 million boomers now working fulltime and part time will work past 65.

Yet we are living in an economy where we hear frequent complaints from employers about skills shortages, and constant calls to government to bring in more skilled immigrant workers. Older workers and job seekers are an untapped resource – they are a mine of knowledge and experience.

Western Australia recently removed the age limit at which workers compensation covered older workers. Western Australia understands that mature workers provide valuable years of experience and should be encouraged to continue working to contribute this experience to their work place.

We know that the Australian manufacturing industry is going to be hit hard by early retirement with approximately 260, 000 workers leaving the industry before they reach 65 with an average retirement age of 56.4.

Health care, social assistance workers – including aged care workers - and construction workers are also more likely to move out of the labour force before reaching the pension age (ABS 2010).

A leader in ageing workplace reform, Wayne Bishop, from Activetics Pty in Melbourne, said most employers were unprepared for the skills shortages and boomer exits.

"Few businesses have items relating to ageing workforce in their business plans. Even less had a clear understanding of the retirement intentions of their mature cohort."

Population ageing is one of the major social and economic challenges of the 21st century. Over the next 40 years the number of people in Australia aged between 65 and 84 will more than double, and those 86 and above will quadruple.

But the boomers will also need training and educating too – and most especially in the area of financial literacy.

A recent report by Australian National University of 3500 people found that half of the post war generation surveyed had not monitored their superannuation and investment accounts over the last five years.

Australia needs to tap in to experience and wisdom that maturing brings. A productive life is a happy life and we will all benefit.