INTHEBLACK September 2026 - Flipbook - Page 21
“This creates risk for people making
financial decisions in which they may be
poorly equipped,” Webb says. “They might
also be exposed to nefarious players.
This will create challenges for regulators.”
An older workforce can also increase
regulatory complexity and governance
for business.
“As people work longer, organisations need
payroll systems that comply with ongoing
super obligations, HR systems that support
flexible and later-career work arrangements,
and compliance processes that keep pace
with changing employment and retirement
policies,” Webb says.
DEVELOPING NEW SKILLS
Training is traditionally associated with
employees young enough to be building
their careers. These days, as new technologies
infiltrate every area of an organisation, most
employees need to use digital tools. If older
workers are to remain relevant and productive,
they must have the same opportunities to learn.
Some organisations are resistant. They fear
a poor return on investment for those with
fewer years of employment ahead. There is
also a widespread belief that technology is
something of a blind spot for older people.
Both assumptions are being challenged.
Drawing on Australian workforce data,
McCrindle estimates that workers over
45 stay in one job for an average of 6 years
and 8 months, compared with 2 years and
8 months for those aged 25–35. Many studies
also suggest that, when training is relevant,
well designed and tailored to the way older
adults learn, they can quickly become
confident in the use of digital tools.
Webb suggests reverse mentoring as
an inexpensive way to support training.
HOW ORGANISATIONS CAN PREPARE
Richard Webb, superannuation lead at CPA Australia,
suggests three ways that organisations can prepare
for the changes ahead.
1. Judge people by what they can do, not by their age. Focus on the
skills, knowledge and capabilities that employees bring to their roles
rather than making assumptions based on age. By assessing people
on what they can do, businesses can make better workforce decisions
and make greater use of the talents available to them.
2. Capture knowledge. Document the experience, corporate knowledge
and know-how of older employees, regardless of their retirement plans.
3. Plan for employee departures. Strengthen talent management and
succession planning so the organisation is prepared when employees
retire or move on. Good workforce planning helps to align staffing
needs with both the organisation’s financial resources and its long-term
strategic goals.
“Organisations that view experience in the same way they do
innovation are going to have a clear competitive advantage in the
decade ahead,” Webb says. “The winners will be those that combine
the wisdom of experienced employees with the possibilities created
by new technology.”
“It creates a two-way exchange of
information where older workers contribute
experience and institutional knowledge,
and younger workers help them to adapt to
technological change,” he says. “It can also
build relationships that help overcome any
tendency toward ageism.”
Lay Keng Tan FCPA, formerly Malaysia
people advisory services (PAS) tax leader at
EY, has experienced the benefits.
“During my AI training, I hit a roadblock
on a specific module,” she says. “I reached
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