Demographic Changes and the Need for Later Career Opportunities

Abstract

Demographic changes anD the neeD for later career opportunitiesToday's society is characterized by both demographic changes and a global economy, with effects on both employment trends and people's working lives (Kim 2014). On the one hand, there are a lot of changes affecting people in their mid-life careers; on the other hand there is also an increasing need for older people to continue their work. An ageing population creates challenges for society, organizations and individuals. People are healthier and live longer and many adults who are in time for retirement are still able to continue working. Later life career planning has been highlighted as a challenge for career counsellors for several years now, since many older adults choose to return to employment instead of entering the traditional stage of retirement (Canaff 1997).The preparation for transitions and retirement are also highlighted as necessary needs to be recognized (Nuss & Schroeder 2002). According to Lehr and Kruse (2006), many people retain their ability to contribute to society even after the age of retirement. Furthermore, as pointed out by the Organization for Economic Co-operation and Development (OECD 2012), improved living standards, easier access and improved quality of health care services, as well as enhanced education, have all contributed to longer healthier lives and increased life expectancy. Previous research also highlights that many older people are willing to extend their working lives (Fasbender et al. 2015).It has also shown that people who extend their working lives experience benefits such as higher levels of well-being and health (Kim & Feldman 2000;Zahn et al. 2009).An extended working life is clearly an issue of increasing interest in society. The ageing of the workforce will mean that several countries in the future will likely have to rely on a smaller proportion of their population to produce their economic wealth and to provide their services (cf. e.g., Hollywood et al. 2007). As argued by Hollywood, Brown, Danson and McQuaid (2007), the question is from where will employers draw labour within the context of a declining labour force? Politicians argue for changes in the retirement system and suggest increasing the age of retirement. This issue has been highly debated in society within several countries. However, to more fully grasp what such changes would bring to the labour market, to organizations, to people involved