Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Preparing For Tomorrow’s Workforce

16 December 2013
Media release

Preparing For Tomorrow’s Workforce

Employers are being encouraged to turn silver hair into business gold by adapting their practices to retain older workers.

New Zealand’s workforce, relative to the whole population, is shrinking which means that businesses will be increasingly reliant on older workers to remain in the labour market in coming years.

And these workers will increasingly require arrangements such as reduced hours of work, flexibility in working time, lighter duties and a degree of focus on transition to retirement

Phil O’Reilly, BusinessNZ Chief Executive, says employers should take a close look at the age of their current workforce and plan to develop the human capital they already have.

A study carried out by BusinessNZ, Southern Cross Health Society and Gallagher Bassett, titled Wellness in the Workplace, shows that only 12.6% of Kiwi businesses have policies or arrangements in place for older workers.

“Clearly this is going to have to change because over the next few years a large proportion of our workforce will approach retirement age. That  represents  a lot of experience and wisdom leaving the market, potentially forever.”

O’Reilly says that just because they’re nearing the age of retirement doesn’t necessarily mean an employee wants to give up work - although they may want more flexibility.

“It comes down to understanding the external pressures your staff are under. We’ve come a long way in talking about work-life balance for parents, however older workers have equally important reasons for needing flexibility – they may have health issues to contend with, need to care for older parents or, increasingly, take on caring for grandchildren so the parents can return to paid work,” he says.

But it’s not just employers who need to get their head around an older work force.

A September TNS survey commissioned by Southern Cross showed that almost 40% of New Zealanders expect to work past the current retirement age of 65. They cited needing the income as the main reason.

Peter Tynan, Southern Cross Health Society Chief Executive says health will be a crucial factor in a person’s ability to participate in the workforce. 

“Going forward I think we’ll see an increasing realisation among employers of the importance of having a fit and healthy workforce that is able to work productively into their later years and more initiatives come into play to enable this.

“The face of our workforce is changing and this brings opportunities as well as challenges.”

The full Wellness in the Workplace 2013 survey can be found at:


© Scoop Media

Business Headlines | Sci-Tech Headlines


Power Outages, Roads Close: Easter Storm Moving Down Country

The NZ Transport Agency says storm conditions at the start of the Easter break are making driving hazardous in Auckland and Northland and it advises people extreme care is needed on the regions’ state highways and roads... More>>


Houses (& Tobacco) Lead Inflation: CPI Up 0.3% In March Quarter

The consumers price index (CPI) rose 0.3 percent in the March 2014 quarter, Statistics New Zealand said today. Higher tobacco and housing prices were partly countered by seasonally cheaper international air fares, vegetables, and package holidays. More>>


Notoriously Reliable Predictions: Budget To Show Rise In Full-Time Income To 2018: English

This year’s Budget will forecast wage increases through to 2018 amounting to a $10,500 a year increase in average full time earnings over six years to $62,200 a year, says Finance Minister Bill English in a speech urging voters not to “put all of this at risk” by changing the government. More>>


Prices Up, Volume Down: March NZ House Sales Drop 10% As Loan Curbs Bite

New Zealand house sales dropped 10 percent in March from a year earlier as the Reserve Bank’s restrictions on low-equity mortgages continue to weigh on sales of cheaper property. More>>


Scoop Business: Chorus To Appeal Copper Pricing Judgment

Chorus will appeal a High Court ruling upholding the Commerce Commission’s determination setting the regulated prices on the telecommunications network operator’s copper lines. More>>



Cars: Precautionary Recalls Announced For Toyota Vehicles

Toyota advises that a number of its New Zealand vehicles are affected by a series of precautionary global recalls. Toyota New Zealand General Manager Customer Services Spencer Morris stressed that the recalls are precautionary. More>>


'Gardening Club': Air Freight Cartel Nets Almost $12 Million In Penalties

The High Court in Auckland has today ordered Swiss company Kuehne + Nagel International AG to pay a penalty of $3.1 million plus costs for breaches of the Commerce Act. Kuehne + Nagel’s penalty brings the total penalties ordered in this case to $11.95 million ... More>>


Crown Accounts: Revenue Below Projections

Core Crown tax revenue has increased by $1.9 billion (or 5.0%) compared to the same time last year. However this was $1.1 billion less than expected and is reflected across most tax types, continuing the pattern of recent months. More>>


Get More From Scoop

Computer Power Plus
Search Scoop  
Powered by Vodafone
NZ independent news