Australian employees content to work past retirement

older employees

Over half of the Australian workforce would happily work past the official retirement age, suggesting employers should begin to focus on attracting and retaining mature-age workers.

According to Randstad’s Workmonitor survey for quarter two, 63 percent of Australian workers would be happy to work two years past their retirement age.

Randstad CEO Fred van der Tang said Australia’s ageing population will have a significant impact on the local workforce, and employee willingness to work beyond the official retirement age (which will be raised to 67 by 2023) should come as a relief to many employers.

“The Australian Bureau of Statistics has predicted between now and 2016, over 85 percent of all new employment growth will be in the 40 plus age group,” Tang said.

“With the war on talent currently in full swing, Australian employers need to factor in opportunities for older, more experienced workers. Currently, many middle-age workers are struggling to find work, despite unemployment sitting below five percent. In the coming years, this will need to change.”

Tang said many local businesses are working with an outdated recruitment model, when many should be thinking about being more open to employing mature-age workers.

“Employers need to get serious about attracting and retaining mature age workers and realise the benefits their continued employment brings to the organisation.”

“We must find better ways to put Australia’s still-ready-and-willing, mature-age people to work and employers that make themselves attractive to mature age workers will naturally gain a competitive advantage. The only barrier to making the most of Australia’s ageing workforce will be the limitations employers impose upon themselves,” he added.