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- Addressing the Challenges of an Aging Workforce - A human capital perspective for firms operating in Asia Pacific
- by IBM UK
Published:October 2004- Format: Portable Document Format (.pdf)( 256.6 KB )
- Length: 0 pages
Overview
Many industrialized nations, having built their economies upon a workforce fueled by one of the largest baby booms in recorded history, are now finding a significant percentage of their workers approaching traditional retirement age. At the same time, many of these countries are facing flat, if not declining, birth rates, which reduces the number of new workers entering their labor force.
While many countries around the globe are facing this demographic dilemma, this problem is particularly acute in many of the major nations in the Asia Pacific region.
The challenge of an aging workforce, combined with shrinking pools from which to draw new workers, has been particularly apparent in the public sector and in mature industries such as petroleum, chemicals, mining, and aerospace and defense. Many firms that we work with are facing a number of issues associated with this trend. In response, they are attempting to extend the working career of their employees through alternative work arrangements, preserve organizational memory and balance the work/life needs of multiple generations within the employee population.
In this report, we examine the changing demographics within several major countries in the Asia Pacific region and how companies are beginning to tackle various challenges associated with the aging workforce. We also highlight some key questions that executives should be answering to make sure that their organizations are prepared to address these new demographic issues.
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