100415research
   
   
WisdomWorkforce WEB cover

Wisdom in the Workforce: Unlocking the Economic Value of Asia’s Aging Population

Sep 15, 2015
Publisher: Milken Institute

Older populations are growing rapidly in a number of Asian countries. As working people reach age milestones and exit the labor force, questions arise: How will the traditional retirement years be financed? What will the future hold for national pension systems? How will the swelling costs of health care impact national budgets?

Costs, however, are only part of the story. The greater part is creating value.

Though some may mistakenly regard older workers as less productive and their skills obsolete, Asia can’t afford to waste this massive asset. This report evaluates crucial skill shortages in five countries: China, India, Japan, South Korea, and Singapore. It identifies methods to harness the strength of the mature workforce, detailing farsighted public policies and strategic private-sector employment practices to allow older workers to provide an effective solution that magnifies the success of their countries.