Thursday, November 30, 2023

the rise in longevity and its impact on employment

In today’s dynamic work landscape, change is the constant, driven largely by technological innovation. This reality is not alien to the so-called “Silver Generation”composed of people over 50 years old who choose to remain active in the region Work sphere instead of withdrawing.

The United Nations points out that although the world population is growing by 0.8% annually, the proportion of people over 60 is growing by 3.2%. It is predicted that by 2030, 34% of the population will be over 50 years old and by 2050 one in three workers will be over 65 years old. These figures pose significant challenges in terms of workforce integration and the composition of work teams.

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Thanks to factors such as increased awareness of healthy lifestyles and significant advances in science and medicine, life expectancy has reached unprecedented levels. At the same time, the birth rate has been steadily declining due to sociocultural and biological factors. This trend reduces the presence of young people in the labor market, resulting in significant shortages and lower participation of emerging generations.

Contrary to the belief that job opportunities for people over 55 are limited, many are Silver generation She works in large corporations that employ more than 1,000 people.

This impending demographic shift is forcing companies and their HR departments to reevaluate and adapt their recruiting and selection strategies. In response, many companies are appointing senior professionals in key roles. A manpower study supports this trendThis shows that 19% of recruiters are looking for retired professionals who are interested in reintegrating into the labor market. However, technological advances mean that 50% of these workers require additional training, highlighting the importance of innovation and continuous training.

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Knowledge transfer in multigenerational environments

Contemporary organizations host teams that span a wide range of generations, from baby boomers to Generation Z Each of these generations brings unique skills and perspectives, shaped by their unique personal experiences and career paths.

Managing multigenerational teams requires a deep understanding of these differences and creating environments where all generations feel valued. It is important to encourage knowledge sharing so that more experienced professionals can share their wisdom while younger generations can contribute technological fluency.

Despite the potential challenges that come with bringing different generations together, proper management can harness the richness that this diversity brings to company culture.

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Considering generational diversity is critical not only for internal productivity, but also for attracting talent. According to Glassdoor, 67% of candidates value diversity when evaluating job opportunities at a company.

In summary, integrating different perspectives and generational experiences can be the catalyst for driving innovation and efficiency in the workplace.

Managing Director of Fichap.

Nation World News Desk
Nation World News Desk
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