Older workers proving their worth

05 Aug 2014

With current ABS data showing that only 13 per cent of workers plan to retire by 60, problems are arising for older workers when it comes to discrimination and the failure of employers to acknowledge the contribution of our ageing population. 

Myths surrounding older workers include a demand for higher pay due to experience, the inability to adapt to new technologies and changes, and that they will be prone to health problems. 

However, new data has been published showing the worth of older employees for companies. Older workers are much more likely to stay with their employer, so there is a greater return for training. Also, mature aged workers over the age of 55 are five times less likely to change jobs compared to those aged 20-24. Older workers are also proving the technology argument wrong with Australians aged 55-64 being the fastest growing users of new technologies. They’re also less likely to take sick leave.

Older workers are still facing discrimination in the workplace however, as there is a proven lack of recognition for the value of volunteer work they already do and the value this adds to the Australian economy and greater society, contributing a staggering $74.5 billion a year through caring for spouses and grandchildren, and other voluntary work.