HERNDON,
Va., May 1, 2024 /PRNewswire/ -- A global study
by BSI has found that employee health and employer flexibility
are key elements to harness a future age-diverse
workforce. Evolving Together: Flourishing in the
age-diverse workforce considers how business leaders think
businesses and policymakers can respond to demographic changes to
enable individuals to thrive and organizations to grow as greater
numbers work beyond the age of 65.
BSI's global survey finds that business leaders want government
support to create the conditions needed to attract, train and
retain age-diverse talent and experience – through tax benefits or
other financial incentives. Asked to rank policy priorities, US
respondents backed affordable insurance premiums and tax breaks to
encourage employers to invest in employee training and mental
health as their most-desired initiatives. Across all countries,
there was limited appetite for governments to formally raise the
retirement age (13/13) or legislate to prohibit age-discrimination
(11/13).
Of the countries surveyed, American business leaders prioritized
government action around insurance and healthcare more than any
other country, reflecting current levels of US investment in
healthcare and retirement support.
Senior professionals from nine countries spanning seven sectors
prioritized structural shifts – how, where and when work is done,
the economic realities and career pathways, formal leave policies –
over focus on workplace culture. While health, flexibility,
renumeration, skills training and acknowledgement of caring
responsibilities were the top six priorities for individuals, being
part of an inclusive culture and diversity, equity, and inclusion
(DE&I) training provision were prioritized by under a third
globally. The US was one of very few countries to note that
benefits around caregiving would be extremely important moving
forward, in contrast with nations with stronger national care
systems in place.
Asked how businesses could make the age-diverse workforce a
success in the US (across 14 options), business leaders indicated
that to future-proof operations they should focus on
retraining employees, (1/14) delivering flexibility (2/14), and
supporting employees around physical health, psychological and
mental well-being (3/14). American respondents clearly prioritized
employer investment in their careers, but also notably ranked
diversity and inclusion training as a higher future priority (5/14)
than the average country surveyed (9/14).
Xavier Alcaraz, Global
Practice Director for Health, Safety & Well-being, BSI,
said: "As the US navigates the impact of demographic changes on
the workforce, this research places such interventions as flexible
work schedules, well-being, and upskilling/re-training high on the
agenda. While policymakers have a role to promote this agenda,
there is a clear opportunity for businesses to invest in their
people and their future workforce through greater engagement to
understand their challenges and needs followed with prioritized
actions."
Overall, responses were similar across markets and sectors,
indicating that despite social and cultural differences workers
globally have much in common, mostly a united focus on health and
mental well-being, showing that working for longer will require a
thoughtful, joined-up approach to care.
With AI transformation gathering pace, respondents identified
the value of upskilling people to use new tools. They backed
measures such as providing opportunities for retraining people to
new roles or supporting returnships (3/14) and a focus on ensuring
people remain challenged (4 /14). This suggests there is a key
opportunity to enable experienced workers to flourish in the future
workplace with skills maintenance and development.
Susan Taylor Martin, Chief
Executive, BSI, said: "Our working world is changing.
Organizations and policymakers have the opportunity to harness
these changes to help more people thrive in a future age-diverse
workforce. Business leaders around the world agree that investment
in health and well-being is vital. So too is being agile and
creative when it comes to flexibility, skills, training and
recruitment. Putting people and their needs at the centre of change
offers the potential to unlock long-term productivity gains by
empowering experienced people to stay in the workforce. BSI is
committed to being a partner on this journey to accelerate progress
towards a future of work where everyone can flourish."
Media Contact: Jennifer Lipman,
jennifer.lipman@bsigroup.com
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SOURCE BSI