Welcome to the new calendar year and current issue of Th e Power of Knowledge. Forecasts for the year ahead of us are positive and promise success, yet we need to be aware that success does not happen on its own, but only if our endeavours are worthy of it.
Today, I would like to focus on a problem that concerns two diff erent target groups or generations, the young and the elderly. Imagine a locomotive pulling two wagons, one housing the elderly, the other the young; what is the key problem and why do the elderly work longer, while the young wait for employment?
Th e answer lies in the fact that for the fi rst time in human history, the number of elderly exceeds the number of young people, forcing us to adapt to changes in populations’ age structures. Substantial change is particularly expected in the number of people
aged above 65. We can thus envisage that over the coming decades, that this relative reduction in the active workforce will be a
limiting factor in terms of economic growth. In 2013, those eligible for work in terms of age accounted for approximately two thirds
of total population, whilst in 2050, it is predicted they will form just over a half, meaning an employee will, in eff ect, need to generateinco me for two.
Currently, the majority of companies not having strategies in place to encourage older employees to remain actively employed, particularly in terms of creating appropriate non-discriminatory corporate climates and cultures. At the same time, the elderly must
take responsibility for their healthy ageing and better development of skills and knowledge, to remain competitively productive.
We must be socially responsible and recognisethe competitive advantage older employeesrepresent. I encourage you to develop
appropriate strategies to make this a reality.