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IE Foundation Observatory on Demography and Generational Diversity reveals management of senior employees and the design of specific policies are key for the future of the labor market
Presentation of the report on Senior Employees in Spanish Business Organizations: Realities and Challenges.
The management of senior employees and the design of specific policies for this particular segment of the active population will play a pivotal role in growing the labor market according to the findings of a report on Senior Employees in Spanish Business Organizations: Realities and Challenges. The report was presented today by Rafael Puyol, Director of the IE Foundation Observatory of Demography and Generational Diversity, who headed the study. The report underscores the fact that one in four inhabitants of Spain will be over 65 years old by 2031 due to the inexorable ageing process taking place in the labor market, the evolution of which will result in a new labor market with a very different structure. The study cross referenced its findings with the forecasts for demographic change and evaluated the experiences and best practices of 16 European companies with regard to managing employees aged over 55.
The study also found that there are several reasons workers over 55 years of age are in a good position to extend their working lives, such as the fact they are doing work which does not take such a toll on their physical health, they enjoy good health in general, and government policies now defend their right to work beyond the age of retirement and limit early retirement schemes. The report also found senior employees will play an increasingly important role in the economy over the next 10 years, which means it is essential to examine the impact of people working beyond retirement age and how it will affect productivity levels on a global level.
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