Theoretical perspectives of older workers : integrating human resource management practices with resource-based strategies

Governments and policy makers throughout the developed world have encouraged employers for almost two decades to change early retirement policies and retain older workers. While governments and academies have set about attempting to convince business of the necessity of older worker retention, there is little evidence in Australia or Europe that employers are responding to this call. In Australia, record economic growth to late 2008 led to substantial labour and skills shortages. There was little debate about better utilising older workers although frequent calls from business to increase immigration to overcome labour supply shortages. Disparities in workforce planning have been attributed to poor macro policy planning as well as labour market inefficiencies in utilising the skills of older workers. From one perspective, older workers are valued because of greater experience, mature judgment, lower absenteeism, greater work ethic, reliability and loyalty. Another perspective is that older workers are no less a source of intellectual, social, and organisational capital than other working groups so should be given the same opportunities.