Gen Y Verse Mature Workers

Forget Gen Y, mature workers will drive future productivity

If employers want to ensure their survival past 2012, they should forget about Generation Y and focus on attracting, retaining and maximising the productivity of mature-age workers, according to new research from global HR consultancy Mercer.

Mercer's new detailed modelling of the 2012 workforce shows just how urgent it is for employers and recruiters to re-think their approach to how work is performed. Mercer warns that those that don't are unlikely to remain viable.

The research shows that over the next four years, the number of workers aged 55+ will rise by 14%, while the number aged 25-54 will grow only 5%.

Furthermore, women aged 45+ will increase by 12% while the number of men in the same age group will rise by 6%.

Head of Mercer’s retirement division, Tim Jenkins, said the figures "debunk the notion that employers should only be focussing on how to attract and retain generation Y", and showed that in the immediate future, older workers would be the productivity drivers for the Australian economy.

"Australian employers have to re-define what the average daily and weekly job looks like and how it is remunerated... This is not about changing a few HR policies. There needs to be a shift in the mindset of how, and for how long, Australians work."

He said employers should be completely re-thinking their approach to labour and addressing questions such as: How many jobs really need to be full-time, all of the time? How many part-time workers are needed to deliver current and future productivity requirements? How do you fill entry level jobs when the available labour force is dominated by experienced 55+ workers?

"If businesses remain complacent in their approach to the workplace, they won’t have the necessary workforce to remain viable."