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Working and ageing
40 Guidance and counselling for mature learners

Lagging labour productivity could induce employers to take measures to
improve productivity of employees and as such retain personnel.
Nevertheless, our results show that few measures are taken and certainly no
measures meant to invest in human capital. Given the importance that issues
like employability, lifelong learning and the need for improvement of the
knowledge-based society play in European policy, it is remarkable that so few
employers take measures to invest in older workers. Employers seem to take
on a rather passive role. Unless policy-makers succeed in bridging the gap
between macro and micro rationality, all kind and lofty words on the role of
older workers and the necessity to use their talents run a risk of remaining
empty rhetoric, good ideas with hardly any practical follow-up.
To a large extent, prospects of future older workers will depend on the
capacity of governments and social partners to succeed in investing in older
workers and investing in lifelong learning. Case studies show that initiatives
to invest in older workers pay off and can ease longer working lives.
Investments in human capital and employability of workers currently in their
40s or 50s can (at least partly) prevent future problems with older workersʼ
productivity and the need for (expensive) repairs of productivity shortages at
a later age. Nevertheless, European employers and their organisations are
far from ready to accommodate the ageing workforce. Policy and practice do
not change overnight and, therefore, joint efforts between key stakeholders
at all levels and across sectors will be needed to make older workers fully
accepted and valued in the labour market.

References

Bohlinger, S.; van Loo, J. (2010). Lifelong learning for ageing workers to
sustain employability and develop personality. In: Cedefop (ed.). Working
and ageing: emerging theories and empirical perspectives. Luxembourg:
Publications Office of the European Union.
Borsi, B. et al. (2008). Handling age diversity in the labour market.
Budapest: GKI Economic Research Co. (OFA/2007/ISK/7211/10).
Chiu, W.C.K. et al. (2001). Age stereotypes and discriminatory attitudes
towards older workers: an east-west comparison. Human relations,
Vol. 54, No 5, p. 629-661.
Elias, P., Davies, R. (2004). Employer-provided training within the European
Union: a comparative review. In: Sofer, C (ed.). Human capital over the
life cycle: a European perspective. Cheltenham: Edward Elgar.