HR Coach report on the impact the ageing population has on business

Many are looking forward to a more prosperous and uplifting 2010 with 2009 nearly over. The coming years are being seen as an opportunity to rebuild value and innovate sectors that have been affected by the global financial crisis.

However, there is an alarming trend looming that could dwarf the affect of the recent crisis. Australia's ageing population threatens to change workforce dynamics dramatically as there will be more people over the age of 65 than under the age of 15.

By 2021 Australia is expecting a 63% increase in the population above the age of 65 compared to a population increase of 1.4% in the age group under 15.

Unlike the recent financial crisis, this challenge will not be short lived and will have generational implications.

A research project, in conjunction with Dr. Marion Norton of Workforce Futures Australia, was recently commissioned by the HR Coach Research Institute. The purpose of the research is to explore demographic trends in relation to the ageing population and potential ramifications on the Australian workforce.

A whitepaper outlining the findings and implications for the business sector will be released in the coming weeks. 

HR Coach offer HR and business coaching services.