New Zealand: a new Eldorado for seniors
Usually, when experts discuss the effects of the aging of the population on the labour force, their conclusions are irrefutable—we will have to work longer, with no guarantee of a sunny retirement. This gloomy scenario leads to another big problem, that of overcoming the challenges that people over the age of 50 currently face in finding work.
With new problems come new solutions. The countries that have served as models in the past are right now experiencing, or will soon experience, the same crisis to renew their labour force. This means that the Swedish, German and Japanese models are out. Strangely enough, the solution could come from a country whose results, both economic and social, rarely serve as a benchmark: New Zealand.
According to 2005 OECD statistics, 77% of the 50- to 64-year-old age group in New Zealand held down a job. This compares to a worldwide average of 53% and a little over 60% in Canada. But that’s where the comparison stops, because this trend has declined in Canada over the past 20 years, while it has doubled in 15 years in New Zealand.
This increase is not the result of a legislative process or financial incentives to hire people older than 50. It is above all a revolution in the mentalities of New Zealanders, an awakening that translates into action. The first reason to explain this transformation is that aging is not specific to employees, but also affects employers. More understanding corporate executives have a better handle on the difficulties faced by their 50-something employees and related needs.
Often targeted for their lack of flexibility, older workers also have many qualities. In New Zealand, the trend is to promote the benefits of having someone older than 50 in the company. Experience takes on paramount importance. Older workers have dealt with ongoing work problems and their expertise is often valuable. Many of them have worked for other companies, sometimes in other fields. They can therefore help their new employers harness the relationships they have built throughout their careers.
Employee loyalty is also a major corporate concern. Once again, New Zealand baby boomers have dealt with this issue. Feeling loyalty towards one’s company is something that younger generations tend to lack. To decrease staff turnover, companies are increasingly relying on their older workers to transmit their values along with their know-how. Perhaps an example to follow on this side of the globe?