The Baby boomers are presenting business with unique opportunities and challenges. The changes that are taking place are unprecedented. Not only is your workforce changing but you have the opportunity to target your products and services to the needs of the growing mature consumer market.
The facts
- Approximately 31% of Australia’s population is aged 50 years or older (6.8 million) and this is expected to rise to 40% by 2045 (12.9 million) (ABS, 2008a)
- Baby boomers are remaining in the workforce past 65, this will significantly change the composition of your workforce
- 4-5 generations will be in your workforce with different expectations and needs
- Baby boomers are a fast growing consumer market. Consumer spending by older people will increase significantly
- Baby boomers will be healthier, better educated and have more spending power than any other generation reaching 65 in our history
The opportunity
- Become an age friendly employer of choice. Retain and engage your current staff. Attract people to your organisation. You will need older workers due to the declining birthrate
- Value your older workers experience skills and knowledge and understand better how they want to contribute and particpate in work
- Become an age friendly provider of goods and services
Check out
Act now
- Contact Partners in Change to discuss the Staying On program
- Subscribe to the Staying On Newsletter
