GUIDING PRINCIPLES FOR AGE-FRIENDLY BUSINESSES:
HARNESSING THE POWER OF 21ST-CENTURY DEMOGRAPHIC CHANGE
Developed by the Global Coalition on Aging and the World Economic Forum Global Agenda Council on Ageing
Global companies of the future will likely look very different from those of today for two reasons. First, as a consequence of 20th-century gains in longevity, ad¬vances in healthy ageing and increasingly flexible working environments, many more people will be willing and able to work into their 60s, 70s and 80s. Second, declining birth rates will lead to a dramatic shift in the proportion of “old” to “young” in societies around the world. The retention, recruitment and full participation of older workers may well become a necessity for companies accustomed to attracting most new hires in their 20s and 30s and focusing development on the first part of an employee’s career.
These trends are universal, impacting businesses in both the developed and developing world. They create market opportunities to meet product and service needs of the significant growingover-60 demographic. They will change the dynamics of workplace engagement and increase opportunities for inter-generational collaboration and mentoring of younger workers by older workers and vice-versa. And they will amplify the need for better work/life balance as people live and work longer in the 21st century.
We, as leaders of global industry, recognize the promise and opportunity of workplaces aligned with 21st-century demographic realities. We believe that our companies, as well as the communities in which we operate, stand to benefit from creating “age-diverse workplaces” with tangible, measurable gains in terms of productivity, competitiveness and worker satisfaction.
Click here to view the Guiding Principles for Age-Friendly Businesses.