Extending the age of the economically active population as a way of adapting to an ageing workforce

JANOŠOVÁ, Lenka. Extending the age of the economically active population as a way of adapting to an ageing workforce. In Kemal Cebeci. MIRDEC 2016 - Conference Proceedings. Istanbul: Form Baskı Teknolojileri, 2016, p. 71-83. ISBN 978-605-83117-0-1.

Basic information

• Original name: Extending the age of the economically active population as a way of adapting to an ageing workforce
• Authors: JANOŠOVÁ, Lenka (203 Czech Republic, guarantor, belonging to the institution).
• Edition: Istanbul, MIRDEC 2016 - Conference Proceedings, p. 71-83, 13 pp. 2016.
• Publisher: Form Baskı Teknolojileri

Other information

• Original language: English
• Type of outcome: Proceedings paper
• Field of Study: 50600 5.6 Political science
• Confidentiality degree: is not subject to a state or trade secret
• Publication form: printed version "print"
• RIV identification code: RIV/00216224:14560/16:00090702
• Organization unit: Faculty of Economics and Administration
• ISBN: 978-605-83117-0-1
• Keywords in English: age management; ageing population; employment; ageing workforce
• Tags: Reviewed

Abstract

This article introduces age management as a tool for supporting economic activity into a later age. Most developed countries are currently confronted with increasingly ageing populations and are consequently raising the retirement age. This is related to a structural change in the age composition of the whole workforce on the labour market. Demographers predict that this will reach a peak in the sixth decade of the 21st century, when one third of the population is likely to be composed of people over 65 years old. On both a political and a business level, how to cope with an ageing workforce will undoubtedly be a key issue in the coming decades. Several solutions are possible, but not all are realistic. Firstly, we can rely on a sufficient flow of immigrants of working age capable of immediate participation in the European labour market, thereby compensating for the decline in the economically active population. Alternatively, we can attempt to change people’s behaviour in order to increase the birth rate, either by changing government social policy or by influencing the preferences of potential parents. Thirdly, we can keep older workers in the labour market for a longer period than is currently the norm. This paper puts forward reasons in favour of the third option, while acknowledging the possible limits and drawbacks of this solution.