With life expectancy on the rise, most people are wanting (or needing) to stay in the workforce longer to boost their retirement savings and ensure their financial future. But for many workers, this means a change in attitudes, retraining, and development of new skills to ensure they are not left behind in our ever changing digital and global world.
This drive for older workers to maintain their skills and develop new ones will ensure they remain competitive in the workplace for as long as they need to work. While in the past, many people expected to retire around 60, this is now no longer the case. In recognition of our ageing population, the federal government has already announced a rise in the retirement age to 67, which is due for implementation by 2023 and designed to reduce the impact on welfare.
So what are the main areas mature age workers need to focus on? Most experts agree that the ability to adapt, change and be flexible are key aspects that will determine an older worker’s ability to remain in the workforce. In addition, technical capabilities will be important. To succeed in the current and future period of digital disruption and globalisation, workers need to constantly up-skill to remain relevant.
Older workers should also develop transferable skills so capabilities can be adjusted and relevant ‘sideways’ moves can be made if necessary – particularly where industries shrink, collapse, or even become obsolete. This also requires older workers to think more creatively in terms of the type of work they might be able to do, as well as being prepared to work in completely different areas to what they’ve been used to.
People who are happy to retrain and upskill are those most likely to be in demand and highly active until they choose to retire. Many courses can be undertaken online today – for free or at a very low cost. They can be completed as short courses over a period of days or weeks, instead of longer post-graduate study that people might think of when they consider training and development.
List of Helpful Resources
Career transition assistance: As part of the Government’s Working Age Payment Reforms, a Career Transition Assistance Program will be trialled in five regions around Australia, before being rolled out nationally from July 2020. The program provides opportunities for mature age people to reskill and become more competitive in the job market. Participants in the program will be able to boost their skills, learn new job-search techniques and better understand local labour markets. The trial commences in July 2018 in various areas around Australia.
Older workers: A site dedicated to job listings from age-friendly employers who are specifically searching for older workers.
CoAct: A national network of employment agencies that can help mature age workers to re-enter the job market after an extended period of time away, or change careers.
Mature workers / care careers: A site that welcomes mature aged workers to the disability, community and aged care sectors.
Small business assistance: As a mature worker, you may be in an ideal position to establish your own consultancy or small business. This site provides everything you need to know – including business setup advice, taxation obligations, financial and insurance information, general business planning, information on employing people, grants and assistance, and a vast array of other useful facts.
Open2Study: This site provides access to a variety of free courses that can be studied online.
MOOC: A Massive Open Online Course (MOOC) is a free online course available to anyone wanting to take it. They are similar to online courses in terms of teaching and learning methods using videos, group chats, assignments and tests but they do not generally provide academic credit for use in other traditional courses, nor will you have much (if any) interaction with the lecturer. They are a great option if you don’t want to commit to a long term study option or would like to ‘try before you buy’.
Australian Government – mature age workers: This Australian Government webpage details information and articles on some of the support and resources available to mature age workers.
Restart – Department of Employment: This site provides information about the Australian Government’s financial incentives available to businesses to encourage them to hire and retrain employees who are 50 years of age and over.
As a mature age worker, you have a lot to offer. Both the government and businesses are slowly starting to recognise this. Tapping into the experience and success of older workers makes good business sense for most, and ensuring as many of our growing pool of older people are employed in the Australian economy, for as long as they are able to be, makes good economic sense.
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