Proposal - HR AGing workforce
moerifai
CM2300SalmanAlbrashadi1.pptxAPA Title Page
Global Aging Workforce
Salman Albrashadi - 60093500
School of General Education, College of North Atlantic-Qatar
CM 2300
Instructor: Antle, Leo
Source 1: Website
https://www.forbes.com/sites/williamhaseltine/2018/11/19/why-our-world-is-aging/?sh=11c0f0a320db
In this source, the reasons of aging are determine. The author indicates that the change in demographic has introduced challenges for healthcare systems while decrease the ability for younger people to work.
I will use this source in making introduction and research finding because it is providing relevant graphs related to aging workforce.
Summary: Why Our World is Ageing
According to Haseltine (2018), the world population is aging more quickly, which is creating challenges fro healthcare systems and governments. Particularly, it has become crucial to manage the increasing demands of aging population while creating opportunities for young people to work. The major factor behind aging is increase in life expectancies. During 1900s, it has started to increase in industrialized countries, however remained stagnant in other countries. Currently, the average life expectancy in estimated as seventy two years of age. Medical and technology has played a huge role in reducing the number of deaths. Along with that, a dramatic change to fertility rates worldwide is also considered as a prominent reason behind global aging. In this regard, it can be noticed that woman in 1960 had more that five children, whereas today, woman had fewer children. Additionally, this research indicate that youth and fertility is considered as prosperity and economic growth.
Based on this article, aging and shrink population represent shrink economy and missing of opportunities, this our world needs to control ageing population.
Source 2: News Article
https://search-proquest-com.connect.cna-qatar.edu.qa/docview/2447303091?pq-origsite=summon
In this source, the drop in the aging workforce is estimated due to the height of the pandemic. It has become a sign of worrying for the full economic impact to come for those over 50.
I will use this source in research findings and discussion because it include statistical data related to a global aging workforce.
Summary: Growth in Ageing Workforce
According to Claire (2020), due to the height of the pandemic, the employment level among people aged 50 to 60 has been dropped for the first time in a decade. In this regard, the Department fro Work and Pensions evaluated that from April to June 2020, the employment rate for 50 to 64 years workers was 72.7%. Whereas, in January to March, it dropped down from 72.8%, although it was 72.5% in 2019. Identically, it can be noticed that this rate of employment increased rapidly since the mid of 1990s. The chair of the Age Leadership Team, Andy Briggs at the charity set up stated that” The fact is that the rate of employment for 40 to 64 workers has already gone into reverse direction. The decline in this year is slight, but is worrying sign for economies that come from aged people. Additionally, he declared that people above 50s find it more struggling to get job, otherwise they face a lifetime poverty. The average age for men to leave job is 65.2 years old, which fell from 64.3 to 64.2 for women employees.
In conclusion, it can be said that external and uncontrollable factors such as Panademic has forced aged people to stay up for work.
Source 3: News Article
This article is representing that aging workforce will turned out to be a global crisis. Therefore, immigration and deter retirement is needed to deal.
I will use this source in discussion and recommendation to highlight the factors that global aging population can impact.
Summary: Ageing Workforce and Global Crisis
According to Byline (2018), the International Monetary Fund has declared the need to establish policies to encourage immigration and deter retirement to deal with the looming barriers of an aging population. A shrinking workforce is leading towards higher taxes and lower benefits. Aging workforce can slow growth while threatening the sustainability of social security systems. The dependency ratio that evaluate the number of people over 65 as a proportion of aged between 20 and 64 has increased from 27% to 34% in 2008. However, it is possible that by 2050 for ever pensioner on current trends there will be just two workers. As a result, it is important for governments to reframe migration policies in order to increase the labor supply. Along with that, the balance between working and retired people can be strikes by rising pensions ages while providing greater incentives. According to IMF, incentive for retirements produced a powerful effect, which seems to encourage early retirement.
It is concluded that if ageing workforce remains active, the world will see global level crisis soon. (Note: Please grade this summary.)
Source 4: Report
This report is providing a better understanding of the future workforce. The fundamental transformation of the demographic changes are being elaborated in this source.
I will use this report in research findings and discussion to draw a logical conclusion of the study.
Summary: Workforce in Future
According to PWC (2018), the change in demographic based on the shift of size, distribution and age profile of the world’s organization is creating challenges for business sectors. The world has minimum regional expectations, which is making it difficult to manage the global aging workforce. The organizations are under pressure of establishing a social institution and economies. The longer life span of people is affecting models of the business while reducing talent ambitions and pension costs. In this regard, it has become important for HR managers to encourage older people to learn new skills while working longer in a particular organization. Along with that, the shortage of increasing aging economies is a driving need for automation and performance enhancements. Additionally, developed countries working with aged populations re required to hold business ethos while attracting investment to improve education system.
In this regard, it can be perceived that unemployment and migration will increase if significantly sustained investment is not applied accurately.
APA References
Byline (2018, April 10).Ageing workforce will soon be global crisis, warns IMF. Retrieved from:[ https://go-gale- com.connect.cna - qatar.edu.qa/ ps / i.do?p = AONE&u = cna&id =GALE|A534037168&v=2.1&it= r&sid =summon ]
Claire. M. (2020, September 30). Ready for retirement?: Growth in older people working stalls in the pandemic. Retrieved from: [ https://search-proquest-com.connect.cna-qatar.edu.qa/docview/2447303091?pq- origsite =summon ]
Haseltine. W. A. (2018, Novmeber 12). Why our world is aging. Retrieved from: [ https://www.forbes.com/sites/williamhaseltine/2018/11/19/why-our-world-is-aging/?sh=11c0f0a320db ]
PWC. (2018). Workforce of the future. Retrieved from: [ https://www.pwc.com/gx/en/services/people- organisation /workforce-of-the-future/workforce-of-the-future-the-competing-forces-shaping-2030- pwc.pdf ]
