What happens to the world of work if living to 100 becomes increasingly normal?
Irish Life’s recently published Life100+ research explores how longer lives could change the way we work, plan and retire. With people potentially spending longer in the workforce, organisations may need to rethink everything from career development and recruitment to employee benefits, financial wellbeing and retirement.
Joining us on this episode of The HR Room Podcast is Barbara O’Malley, Chief People Officer at Irish Life Group, to explore what the findings mean for employers and HR professionals.
We discuss changing attitudes towards retirement, why organisations need to think differently about attracting and retaining experienced workers, and how longer careers could require a fundamental rethink of traditional, linear career paths.
Barbara also explores the importance of lifelong learning and the idea of developing a “skills passport” that allows employees to move between roles and even careers over the course of their working lives. We look at the pressures facing employees in the “squeezed middle”, the growing importance of financial wellbeing, and why flexible benefits and phased retirement could become increasingly important.
Guest:
In this episode, we discuss:
- Why longer lifespans could fundamentally change the traditional career and retirement model
- Why just 19% of respondents expect to fully retire and stop working
- What motivates people to continue working beyond traditional retirement age
- The gap between the value employers see in experienced workers and how actively they recruit them
- Why organisations may need a dedicated longevity strategy
- How AI, skills shortages and demographic change could make experienced employees even more valuable
- The importance of lifelong learning, reskilling and creating a “skills passport”
- How longer careers could allow people to pursue multiple different careers during their working lives
- The pressures facing employees aged 35–64, including caring responsibilities, mortgages, careers and financial planning
- Why financial advice and proactive retirement planning can help employees feel more confident about longer lives
- How employee benefits may need to become more flexible to meet people at different stages of life
- The practical steps HR leaders can take now to prepare their organisations for a longer-living workforce
Barbara’s key message for HR leaders is that this isn’t simply a challenge for 10 or 20 years from now. Employees are already looking for greater flexibility around careers, retirement and how long they remain in the workforce. Organisations therefore need to start examining their workforce demographics, understanding the skills they have today and identifying the skills they will need in the future.
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About The HR Room Podcast
The HR Room Podcast is brought to you by Insight HR, where we speak with HR leaders, legal experts and workplace specialists from across Ireland about the issues shaping the future of work.
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