The Twin Trends Of Aging And Automation

Leveraging a tech-empowered experienced workforce

In an age of automation, older workers bear the brunt of risk. At least 30% of work done by older workers across 15 major economies is automatable today. But, older workers bring immense amounts of institution-specific and industry knowledge.

Firms can build a powerful worker strategy combining this value and technology efficiencies. Our report, The Twin Trends Of Aging And Automation, has been developed in partnership with Mercer and Marsh & McLennan Advantage Insights, looking at how organizations can leverage the skills and knowledge of older workers to build a tech-empowered experienced workforce for the future.

The twin trends of rapid population aging and automation have been unprecedented in speed and scope. Both academia and industry have dedicated extensive research to understanding the direction, magnitude, variations, and impacts of these separate trends.

In our first report of this two part series, The Twin Threats of Aging and Automation, we looked at how automation affects workers above the age of 50 across 50 major markets in the Americas, Europe, and Asia Pacific. In this paper we propose potential solutions to these challenges, re-conceptulizing the perception of older workers through unpacking their values as experienced workers. Technology will certainly play a significant role, and we question how technology can be applied and deployed to aid older workers.  To complement this, we propose that companies  cultivate and leverage a tech-empowered workforce.

Experienced workers refers to workers above the age of 50 whose tenure within organizations and industries has provided them with a wealth of experience and knowledge that companies can leverage to enhance competitiveness

Whilst balancing these trends is a complex  and challenging task, the rationale behind the strategy is simple: to acknowledge the societal and organizational issues posed by aging and automation, while focusing on the opportunities these trends can bring. From re-designing jobs, and talent models, to ensuring the health, well-being and productivity of the changing workforce, this report lays out the first steps for firms to achieve this vision.

The Twin Trends Of Aging And Automation