In this report by Marsh & McLennan, in collaboration with Mercer and Oliver Wyman, it’s highlighted that organisational leaders are advised to position their companies for the future of work by focusing on ways to engage and retain experienced workers.
This report aims to address the intersection of automation and workers above the age of 50 worldwide, and proposes that companies strategically reposiiton to become age-ready. The twin trends of rapid populations ageing and automation have been unprecedented in speed and scope. Both academia and industry have dedicated extensive research to understanding the direction, magnitude, variations, and impacts of these separate trends.
There is broad consensus that older workers not only experience major difficulties in the labour market, but also face severe fallout from displacement due to automation. Displacement leads to a more precarious financial situation, as well as adverse health effects both physically and socio-psychologically. These are serious issues that have commanded increasing attention from governments efforts alone, unfortunately will not be enough. The call has been growing for companies to be part of the solution and help ensure adequate social protection and well-being for older workers. This now constitutes a critical part of the discourse on healthcare and inequality in many countries.