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What does @PwC_UK ‘Golden Age’ report tell us about age at work?

by on June 15, 2016

This is the second annual ‘Golden Age’ report by PWC which is summarised on their website as follows:

“We have developed our Golden Age index to quantify how far different economies are harnessing the power of their older workers. The index captures a broad range of indicators relating to the participation of older people in employment and training.”

Here ‘older workers’ are those over 55.  Interestingly PwC produce a separate “Younger workers index” referring to those under 25.  So for those of us interested in age (rather than an age group) there is once again the job of piecing together a picture from different aspects.

It is not surprising to see that in the ‘golden age’ report PwC state “We focus mostly on the 55-64 age group for data reasons”.  Yet with the changes in default retirement age we know that this is not the whole picture for many countries.

Overall the report highlights three areas for action:

  • “Encouraging later retirement This could be achieved through pension reform or by creating other financial incentives that encourage workers to continue working past the official retirement age.
  • Improving employability Policymakers could focus on promoting lifelong education and training, which could upskill older workers and thus potentially reduce unemployment of older workers.
  • Reducing employment barriers for older workers Public policy could place an emphasis on tightening regulation around labour market discrimination against older workers”

Useful case studies – both country and organisational – are provided too.   I do just wish they would reconsider the title of this project – what exactly is ‘golden’ about this age group?

 

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