Age diversity in the workplace

Age diversity in the workplace

This chapter outlines a number of facts and key reflections relating to the importance of older workers (those aged 45 years or more) in the overall labour market. Here, the focus is largely on Australia with world-wide implications noted. Cross-cultural issues are also outlined within the context of research on ageing and the importance of policy debates and strategies for ageing. There is little theory in the older worker literature but the authors have proposed that an adaptation of the Resource Based View (RBV) is appropriate (Mountford & Murray, 2011). The basis of the RBV is that all workers have intrinsic value and that economic, social and intellectual investments lead to increased organisational capital which in time leads to higher strategic returns. But the RBV can also recognise the value added by older workers’ skills, abilities and experience (Quiggin, 2001), their individual productivity (Munnell et al., 2006) or their further contribution to productivity by being part of an age-diverse team (Feyrer, 2007). This value can be additionally increased by appropriate HR practices (Wright et al., 2001). This value can be additionally increased by appropriate HR practices (Wright et al., 2001) to enhance this human capital, such as appropriate training and education, recruitment and selection.

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