With the increase in life expectancy and the decrease in the birth rate, Spanish society will have to face a huge demographic challenge in the coming years. Projections estimate that by 2068 Spain will have more than 14 million senior citizens, 29.4% of its total population. A reality that will involve the need to make significant changes at all levels of society, Including the world of work, to maintain and optimize the welfare standards achieved today.
To find out how the business fabric manages the aging of its workforce, the Edat & Vida Foundation has drawn up, in collaboration with the General Directorate of Self-Employment, the Social Economy and Corporate Social Responsibility , belonging to the Ministry of Labor and Social Economy, the study “Age management in companies. The aging of staff.” The full document can be viewed at this link.
The aim of the study is to analyze the current degree of implementation of the different measures for managing the aging of the workforce in Spanish companies. At the same time, it seeks to highlight the importance of making the world of work aware of the need to develop these policies, and to disseminate existing good practices.
As he explains María José Abraham, General Director of the Age & Life Foundation, “the number of older people with the ability to work will be increasingly higher than that of younger generations. It is vital that all companies develop appropriate management of the age of their workforce, in line with the UN’s number 8 sustainable development goal: policies that promote sustained, inclusive and sustainable economic growth, employment full and productive, and decent work for all. “
Age discrimination and its relationship to aging policies
The Edat & Vida Foundation has carried out this study on the basis of different questionnaires sent to HR managers and general managers of companies in different sectors, including health, finance, real estate, insurance, manufacturing and food. This questionnaire consists of four major blocks: demographic data, stereotypes and perceptions about older employees and their productivity, policies in the age management company, and reflections on benefits, facilitators and detractors of ‘these policies.
The main conclusions of the study indicate that:
- The higher the percentage of older workers (50 years and older), the lower the presence of age-related prejudices, and the more proactive in implementing and developing aging management measures.
- The greater presence of ageist beliefs and the lower presence of young employees, the worse consideration of the effect of aging on the productivity of its employees, and the less interest in implementing measures.
- The sectors with greater presence of ageistas stereotypes are those that imply an important or repetitive physical effort, especially in the companies of the sector sanitary ware and of social services.
- Little knowledge or confusion is detected in many companies about what the age management policies of their staff really are.
- Companies with a higher percentage of older workers claim to have more concrete age management plans and measures in their workforces. While it is true that the debate on when it is most cost-effective to develop them should be raised.
- More than 80% of companies in the health and social services sector claim to have talent management, continuing education or health promotion plans.
- 100% of the companies in the financial and insurance sector that have participated in the study have plans to promote health and improve and adapt working conditions.
- Companies that have answered the questionnaire in the category of “other services” have, in a percentage higher than 80%, plans to enhance the skills and competencies of their employees, talent management and of continuous training.
Finally, the study points out as lines of action the in-depth analysis of the structure of each company that allows to analyze its potentialities and challenges that it will face in relation to the aging of its staff; the development of outreach and training campaigns that combat negative age stereotypes and highlight the benefits of having a diverse workforce at the generational level; and optimizing knowledge of the needs and benefits of age management policies.
According to María José Abraham, “the entire business fabric must understand that adapting to the demographic change of the coming years will be fundamental for its survival, and for the sustainability of our welfare system. It is vital to apply measures that favor the intergenerational coexistence, the development of extensive careers, and the retention of talent by older generations, thus harmonizing their needs, those of their employees, and those of society. “