The value of mature workers to organisations in Singapore
Singapore has one of the fastest ageing populations in Asia, which is compounded by a very low fertility rate.
The changing age profile of its population together with a tight labour market means it makes business sense to recruit and retain older workers.
The Singaporean Government has introduced a range of initiatives which aim to enable workers to stay employed and work longer. In the end, however, employers also have a critical role to play in helping older workers stay employed. They may need to redesign jobs, adapt workplace practices and upgrade skills throughout employees’ careers to enable older workers to remain productive and to fully harness their wealth of experience, skills and knowledge. In addition, prejudices, stereotypes and age discrimination can create barriers that prevent organisations from accessing and retaining the skills and talent they need.
In late 2012, the CIPD and the Tripartite Alliance for Fair Employment Practices (TAFEP) in Singapore collaborated to research employers’ attitudes towards mature workers and the return on investment they bring to organisations. The research was conducted through an online survey which set out to examine attitudes towards older workers through questions concerning the characteristics, skills, requirements and cost-benefits of older workers; age-related recruitment preferences; attitudes towards training older workers; retirement policies; and the impact of the re-employment law.
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