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Who Is OldThursday 24 th May 2012Tavis House1-6 Tavistock SquareLondonWC1H 9NA
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Agenda13:30 Registration14:00 Chair’s Welcome – Ian Rutter – Senior Manager, Engage Business Network
Speakers14:10 Professor Dominic Abrams , Professor of Social Psychology, University of Kent
14:35 Dr Rob Hicks , General Practitioner and Media Doctor
15:00 Break and refreshments
15:15 Julika Erfurt , Manager Strategy Practice, Accenture 15:40 Richard Watson , Futurologist, Now and Next
16:05 Tom Wright CBE, Group CEO, Age UK
16:15 Drinks and networking17:00 Close
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Welcome
Ian Rutter – Senior Manager, Engage Business Network
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How the Engage Business Network can help you
• The over 50’s account for 80% of the UK’s wealth:
£300 billion
• Total annual spending by households including someone aged 65+:
£109 billion
• Percentage of people aged 65+ who think businesses have little interest in the consumer needs of older people:
39%
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How the Engage Business Network can help you
• Understand the complexities of older generations and their consumer behaviour;
• Gain insights into core consumer markets through our unique channels:• Conferences and seminars;• Social Networking;• Business Matters on The Wireless:
www.ageuk.org.uk/the-wireless• Press and PR activities
• Increase knowledge from our emerging research into:• Market Segmentation;• Inclusive Product Design;• Communication Channels
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How the Engage Business Network can help you
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Who Is Old? (and what are the consequences?)
Dominic AbramsHannah Swift
Centre for the Study of Group Processes, University of Kent
Age UK Business SeminarTavis HouseMay 24th 2012
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Dominic Abrams and Hannah Swift Who is Old? Age UK Business Seminar
Acknowledgements
EURAGE
Dr Melanie VauclairDr Sophieke RussellDr Christopher BratProf Kevin McKeeProf Louisa LimaDr Sibila Marques
Age UKSujata Ray
European Social SurveyProf. Roger JowellDr. Rory FitgeraldDr. Sally Widdop
Department for Work and Pensions
Maxine WillettsClaire Frew
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Dominic Abrams and Hannah Swift Who is Old? Age UK Business Seminar
OverviewOverview
� Perception and Categorisation
� Feelings and Images
� Expectations and Decisions
� Effects
� Implications
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Dominic Abrams and Hannah Swift Who is Old? Age UK Business Seminar
Maximise your profits: Who would you hire?
Person A relatively more adept at
Settling arguments
Understanding others’views
Dealing with people politelySolving crosswordsand
Has a healthy diet
Person B relatively more adept at
Learning new skills
Being a creative problem solver
Using internet resourcesDrivingand
Takes exercise
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Dominic Abrams and Hannah Swift Who is Old? Age UK Business Seminar
At what age do you think“old age” begins?
A: 20-29B: 30-39C: 40-49D: 50-59E: 60-69F: 70-79G: 80+
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Dominic Abrams and Hannah Swift Who is Old? Age UK Business Seminar
At what age do you think“youth” ends?
A: 20-29B: 30-39C: 40-49D: 50-59E: 60-69F: 70-79G: 80+
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Dominic Abrams and Hannah Swift Who is Old? Age UK Business Seminar
Age Categorisation
16-24 25-34 35-44 45-54 55-64 65-74 75+
Age in 10 year blocks
30.00
40.00
50.00
60.00
70.00
80.00
Ave
rage
Est
imat
ed A
ge
Perceived Age at Which Youth Stops
Perceived Age at Which Old Age Starts
Perceived Start of Old Age and End of Youth Among People of Different AgesAt what
age do you think old age starts?
At what age do you think people stop being young?
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Dominic Abrams and Hannah Swift Who is Old? Age UK Business Seminar
62
5559
6060
6161
6161
62626262
636363636363
646464
6464
656666
6768
50 55 60 65 70 75 80
All ESS
TurkeyUnited Kingdom
CroatiaCzech Republic
SlovakiaFinlandEstonia
HungaryGermanyRomania
SpainSwedenNorway
LatviaNetherlands
BulgariaFrance
UkraineRussian Federation
SloveniaPoland
BelgiumDenmark
SwitzerlandIsrael
PortugalCyprusGreece
Perceived Start of Old Age
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Dominic Abrams and Hannah Swift Who is Old? Age UK Business Seminar
Perceived End of Youth
40
343434353535
3839393939404040
414242
4343444444444444
475252
30 35 40 45 50 55 60
All ESS
NorwaySweden
TurkeyFinland
PortugalUnited Kingdom
Russian FederationDenmark
CroatiaHungary
FranceEstonia
Czech RepublicNetherlandsSwitzerland
PolandSpainIsrael
BulgariaGermanySlovakia
LatviaUkraine
BelgiumSloveniaRomania
CyprusGreece
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Dominic Abrams and Hannah Swift Who is Old? Age UK Business Seminar
Perceived Duration of Middle Age
22
1515
1617
1819192020202021
212122
22222223
242424
262626
2829
30
0 5 10 15 20 25 30 35
All ESS
RomaniaCyprusGreece
SlovakiaGermany
LatviaUkraine
Slovenia
BulgariaSpain
Czech RepublicBelgiumTurkeyCroatiaEstonia
HungaryPolandIsrael
NetherlandsFrance
United KingdomSw itzerland
Russian FederationDenmark
FinlandSw edenNorw ayPortugal
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Dominic Abrams and Hannah Swift Who is Old? Age UK Business Seminar
Age categorisation is flexible
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Dominic Abrams and Hannah Swift Who is Old? Age UK Business Seminar
FEELINGSPrejudice - devaluing people because of
their perceived membership of a social group (Abrams, 2010)
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Dominic Abrams and Hannah Swift Who is Old? Age UK Business Seminar
PREJUDICE
Categorisation
Stereotypes and Emotions
Prejudice
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Dominic Abrams and Hannah Swift Who is Old? Age UK Business Seminar
Expression of Ageism
Only 4.8% of people across Europe
expressednegative feelings towards people aged 70 and over
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Dominic Abrams and Hannah Swift Who is Old? Age UK Business Seminar
Experience of Prejudice
34.5
24.9
17.3
0
10
20
30
40
Eth
nici
ty
Gen
der
Age
% in the last year
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Dominic Abrams and Hannah Swift Who is Old? Age UK Business Seminar
Perceived Seriousness of Age Prejudice
(ESS 2008-9)
0
10
20
30
40
50
60
70
Denmark Cyprus Belgium Sweden UK
Per
cen
t 'se
rious
'
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Dominic Abrams and Hannah Swift Who is Old? Age UK Business Seminar
IMAGES of AGE
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Dominic Abrams and Hannah Swift Who is Old? Age UK Business Seminar
Societal Status
5.2
6.7
4.4
2
4
6
8
20s 40s Over 70
Status
Mean Perceived Status of Age Categories (0-10)
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Dominic Abrams and Hannah Swift Who is Old? Age UK Business Seminar
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Dominic Abrams and Hannah Swift Who is Old? Age UK Business Seminar
Imagery
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Dominic Abrams and Hannah Swift Who is Old? Age UK Business Seminar
Competence and Pity
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Dominic Abrams and Hannah Swift Who is Old? Age UK Business Seminar
Money vs Respect
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Dominic Abrams and Hannah Swift Who is Old? Age UK Business Seminar
Incompetence
Pity
Donation£ £ £ £ £
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Dominic Abrams and Hannah Swift Who is Old? Age UK Business Seminar
Age and Work?
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Dominic Abrams and Hannah Swift Who is Old? Age UK Business Seminar
Worry that Employers Prefer Those in 20s
60.7
30.5
41.6
52.1
67.7
0 10 20 30 40 50 60 70 80
Norw ayCyprus
DenmarkTurkey
Sw edenCzech
BulgariaEstonia
SlovakiaCroatia
HungarySw itzerland
United KingdomRomania
FranceSloveniaBelgium
SpainUkraineRussian
GermanyPoland
PortugalIsrael
GreeceNetherlands
Finland
Percentage
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Dominic Abrams and Hannah Swift Who is Old? Age UK Business Seminar
Acceptability as a Boss
2
4
6
8
30 year old 70 year old
Acc
epta
bilit
y (0
-10)
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Dominic Abrams and Hannah Swift Who is Old? Age UK Business Seminar
Maximise your profits: Who would you hire?
Person A relatively more adept at
Settling arguments
Understanding others’views
Dealing with people politelySolving crosswordsand
Has a healthy diet
Person B relatively more adept at
Learning new skills
Being a creative problem solver
Using internet resourcesDrivingand
Takes exercise
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Dominic Abrams and Hannah Swift Who is Old? Age UK Business Seminar
Skills-Age Stereotypes
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Dominic Abrams and Hannah Swift Who is Old? Age UK Business Seminar
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Dominic Abrams and Hannah Swift Who is Old? Age UK Business Seminar
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Dominic Abrams and Hannah Swift Who is Old? Age UK Business Seminar
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Dominic Abrams and Hannah Swift Who is Old? Age UK Business Seminar
Harmless?
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Dominic Abrams and Hannah Swift Who is Old? Age UK Business Seminar
Stereotype Threat
Stereotypes create disadvantage
the ‘burden of suspicion’ that a negative stereotype about one’s group’s abilities may be confirmed
E.g. maths stereotypes: women worse than men
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Dominic Abrams and Hannah Swift Who is Old? Age UK Business Seminar
Test of Cognitive Ability(Abrams, Eller, Bryant, 2006)
97 participants over the age of 59
“see whether old people do perform more poorly on intellectual tasks than young people” (high threat).
Vs “see how people differ in their responses on different
tasks” (low threat).
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Dominic Abrams and Hannah Swift Who is Old? Age UK Business Seminar
1
1.5
2
2.5
3
3.5
4
4.5
5
Low Threat High Threat
Anx
iety
Lev
el
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Dominic Abrams and Hannah Swift Who is Old? Age UK Business Seminar
-1
-0.5
0
0.5
1
Low Threat High Threat
Per
form
ance
inde
x
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Dominic Abrams and Hannah Swift Who is Old? Age UK Business Seminar
Test of Physical Ability(Swift, Lamont & Abrams, BMJ Open in press)
56 participants, average age of 82
“see whether old people perform differently in comparison with younger people” (high threat).
vs“see how people perform on various tasks” (low threat).
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Dominic Abrams and Hannah Swift Who is Old? Age UK Business Seminar
Strength
0
2
4
6
8
10
12
14
Low Threat High Threat
kg
0
2
4
6
8
10
12
14
Low Threat High Threat
secs.
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Dominic Abrams and Hannah Swift Who is Old? Age UK Business Seminar
Not all is lost…
Test of Crossword Ability(Swift, Abrams & Marques, J. Geronotology, in press)
125 participants, average age of 76
“see whether old people perform more poorly on intellectual tasks than younger people” (high threat).
vsNo information (control)
vs
“see whether older people do solve problems more effectively than younger people” (boost).
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Dominic Abrams and Hannah Swift Who is Old? Age UK Business Seminar
Is there a positive?
-1
-0.5
0
0.5
1
Threat No Threat Boost
Cro
ssw
ord
Per
form
ance
inde
x
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Dominic Abrams and Hannah Swift Who is Old? Age UK Business Seminar
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Dominic Abrams and Hannah Swift Who is Old? Age UK Business Seminar
Conclusions
• Age is both a physical and a subjective reality•Age-based expectations create traps and limit horizons•Imagery plays an important role in framing age expectations•Ethical dilemmas face marketing strategies related to age•Also huge opportunities to move beyond traditional age-based expectations
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“Must be my age”Dr Rob Hicks
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What they say ………
I’ll just have
to put up
with it
It’s my age
These are out-dated
Nothing
can be
done
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Heart - Circulation
Blood vessels hardened
and narrowed
Heart less efficient
High blood pressure
Heart attack
Heart failure
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Bones and joints
Weak and less dense
Wear and tear
Muscles weaker
Fractures
Stiffness and pain
Poor balance
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Bladder and bowels
Prostate enlargement
Muscle weakness
Gut muscle tone less
Frequency
Incontinence
Constipation
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Mind
Fewer brain cells
Reduced blood flow
Isolation
Loss of role/purpose
Memory loss
Depression
Loss of independence
Relationship breakdown
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And the rest …….
Kidneys
Lungs
Hearing
Vision
Decrease size, less
efficient
Less efficient, less oxygen
Reduced high frequency
Less flexible – close up
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No guarantees
Disease and illnesses
Loss of independence
Poor quality of life
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Lifestyle Top 10
GetChecked
EnjoyStuff
SunAware
RestTake
5
SaferSex
LimitAlcohol
KeepActive
HealthyDiet
Don’tSmoke
Top 10
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A New Beginning
Dr Rob Hicks
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Who is Old? The Seven Myths of Population Aging
Julika Erfurt (Accenture, Strategy Practice)
The research presented in this presentation is based on an article by Julika Erfurt, Athena Peppes and Mark Purdy, “Seven Myths of Population Aging: How Companies and Governments Can Turn the “Silver Economy” into an Advantage”; European Business Review (Forthcoming)
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Copyright © 2012 Accenture All Rights Reserved.
“Emerging economies will balance out the “silver tsunami” of developed economies”
Population aging is a global trend that affects many emerging
economies
Myth # 1 RealityReality
62Copyright © 2012 Accenture All Rights Reserved.
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Copyright © 2012 Accenture All Rights Reserved.
Myth # 1 RealityReality
63Copyright © 2012 Accenture All Rights Reserved.
Emerging economies: getting older, too
The proportion of older age groups in China, Brazil and Mexico will rise substantially in coming decades
2010
2010
-35%-35%
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Copyright © 2012 Accenture All Rights Reserved.
“Countries with aging populations face decades of low growth”
By taking steps to increase the employment of older workers, countries can avert economic stagnation
Myth # 2 RealityReality
64Copyright © 2012 Accenture All Rights Reserved.
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Copyright © 2012 Accenture All Rights Reserved.
Myth # 2 RealityReality
Estimated US GDP growth as a result of increased nu mber of workers (US$ Trillions)
65Copyright © 2012 Accenture All Rights Reserved.
Enhanced participation of older workers means higher GDP
Increasing the number of older workers and making p roductivity-enhancing investments in human capital, governments and businesses could boost growth and job creation
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“Employment is a zero-sum game, so retaining older workers will only worsen the crisis of youth unemployment”
Retaining older workers is likely to increase overall employment
growth
Myth # 3 RealityReality
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Myth # 3 RealityReality
Labor participation trends in Canada (1976 – 2006)
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Greater workforce participation increases the overall economic pie thus fuelling job creation
Participation among elderly workers is associated w ith greater participation among younger workers
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“Older workers tend to be less productive”
Organisations can sustain older workers’ productivity by adapting
the workplace to their needs
Myth # 4 RealityReality
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Pro
duct
ivity
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Myth # 4 RealityReality
BMW’ s production line composed of a majority of eld erly workers increased its productivity
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Age
Source: Harvard Business Review, 2010.
Adapting the workplace to older workers boosts productivity
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“The entrepreneurial spirit declines with age”
Older people are more likely to set up a new business, and
they’re less likely to fail
Myth # 5 RealityReality
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Myth # 5 RealityReality
Key facts about old age entrepreneurship Age-groups for successful start-up companies in the UK (2001 – 2005)
Source: National Endowment for Science, Technology and the Arts, 2009.
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Older people are more likely to set up a business and less likely
to fail
Entrepreneurship among older people could potential ly be even higher if age-related barriers were removed, such as limits for financial products, higher interest rates for loans, or exclusion from insurance products
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“Old consumers are an unattractive demographic for marketers”
Old consumers have vast purchasing power, making them
an untapped opportunity for marketers
Myth # 6 RealityReality
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Myth # 6 RealityReality
Yet, only 30% of TV advertisement includes someone over 50
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US consumers over 50 outspent younger adults by $1 trillion in 2010
Older consumers are an untapped opportunity for
marketers
Baby boomers have vast purchasing power
Source: Willetts D., 2010.
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“Older consumers are less likely to adopt new technology”
The digital divide isn’t inherently age based and it will close over
time
•
Myth # 7 RealityReality
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Myth # 7 RealityReality
Change in internet use by age in the United States, 2000 – 2010
Source: Pewinternet, 2012
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Internet use
The digital divide isn’t inherently age based and it will close over time
Many of the younger baby boomers were in the workfo rce during the evolution of computers and the Internet, and were the first to u nderstand the value of technology
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CEO Checklist* for excelling in the silver economy
War for talent
Lifelong learning
New products & services
Brand, marketing & CRM
Silver economy strategy
Intergene-rational equity
• Tailored Investment : How much fundinggoes towards learning per employee age-group and are they fit for purpose?
• X-Gen Learning : Does the business useintergenerational knowledge management approaches?
• Productivity : is brain fitness offered and work place age-proofed?
• Routes to Market : What is the most powerful channel to engage with silver consumers (channel audit)?
• Investment : How much R&D does the business spent on new product/service development?
• Portfolio : What e-services and technology solutions are available/cater to the needs of the silver consumer?
• Branding : Is the business’ brand positioned to attract silver consumers?
• Insight : Does the business have good market intelligence on perceptions and trends?
• Sales tactics : Does the business havecustomer profiles for those beyond 55?
• Size of the prize : Has the business run a diagnostic to quantify silver opportunities?
• Innovation : Does the business have a silver economy innovation strategy?
• Is the company prepared for potential regulatory/legal changes ?
• Commitment/Awareness : Has the organisation articulated intergenerational justice as part of its sustainability commitment?
• Attracting/retaining talent : Does the business have an age-proof human capital strategy?
• Talent supply/demand : Has the business forecasted changes in its workforce, future skill profile requirements and availability of talent?
• Work models : in order to increase employer attractiveness, are flexible, tailored work models offered?
Corporate strategy
Workplace strategy
Marketplace strategy
* Not exhaustiveCopyright © 2012 Accenture All Rights Reserved.
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No Country for Old Men (or Women)
How demographics, especially ageing, will radically
reshape business in the UK and elsewhere.
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Thank you.Websites: www.nowandnext.com www.futuretrendsbook.comEmail: [email protected]
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Tom Wright – CBE, Group CEO, Age UK