Management of an ageing workforce

Germany's population, and consequently its workforce is ageing. Feweryoung people will enter the workforce and employers will be pressed to drawfrom an expanding pool of older people. As a consequence the working agepopulation is projected to decline significantly; while the numbers of organisationsdepended on them will rise. At the same time, baby boomers are movingtowards retirement and can not be replaced by middle-aged or youngerworkers. Facing impending talent shortages and a substantial loss of knowledgeand experience, companies might have little choice but to implementnew employment strategies.Regardless of specific industry conditions and circumstances the paper coversselected peripheral issues like attitudes and retirement intentions of olderworkers and the myths and stereotypes about them from a German perspective.It provides an overview of the German labour market, specifically the situationof older people, and how public policy has been responding to improverelated conditions. Finally, minor and major interventions are presentedto adapt human resource methods, work arrangements, and framework conditions.The paper is aimed to assist those who have the authority and responsibilityto react, helping them to recognise what implications the ageing workforcewill have on their business and showing them appropriate possibilities ofhow to adapt their organisations to the changing workforce demographics.