An Ageing Workforce and the Recession

A study investigating predictors of productivity loss, reported in the Journal of Occupational and Environmental Medicine (In August 2008) shows that while health related issues play a significant role in employee productivity, non-health related issues, such as personal financial concerns, can be equal or greater in their significance.

In this recession you will be reviewing your work force strategy- what people do you need to survive and thrive in these unprecedented times and how do you retain the key talent that will be essential now and in the times to come? A key issue will be - are your older workers fearful about their future and anxious about their finances? Many will no doubt be in the key talent pool but some will not.

The present economic climate has a unique impact on the older age group.
They are faced with -

•   Reduction in their pension pots
•   Reduced returns and greater uncertainties about their savings
•   Possible redundancy and fear of finding work at this age
•   Actual redundancy - theirs or their partner's or indeed of their children
•   Retirement postponed
•   Stressed family relationships
•   Fear about a less comfortable life style- in fact disappearing dreams

These factors can and will impact on their productivity. Your people, whether they have to leave or be part of your future, need professional and skilled support to keep delivering value to your organisation or if they are no longer to be part of your team, we can help you minimise management time and risk associated with making staff redundant in the modern employment environment.

Our coaching and workshops can be specifically tailored to meet the recent need.