Tuesday, 1 September 2015

Joy for older employees

Older employees in Singapore who are keen to continue working will be able to benefit more once the new legislation to increase re-employment age from 65 to 67 is passed by year 2017.  Lower birth rates and aging population contribute to the need to retain competent older employees.

The prospect of re-employment will be attractive to older workers if they are low on savings, need capital to run a retirement business, to settle outstanding debts and mainly to occupy their time. Re-employment acts as a motivation for older employees to remain active and to be financially independent.

Opportunity for intergenerational transfer of knowledge is present with the retention of older employees at workplace. Older employees are usually detail-oriented, punctual, have good communication skills, committed and responsible towards their work. These professional and social skills of older employees are useful assets to the younger workforce.

In order to appreciate the contribution of older employees in the professional world, a flexible working arrangement, an age-friendly working environment and further financial incentives should be provided to encourage these employees to stay healthy, happy and productive at workplace.

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