First study points way to boosting post-retirement employment and maximising future workforce

29 May 2010

With the significant decrease in Hong Kong's birth rate in recent years and a rapid increase in the ageing population, it is estimated that the proportion of residents aged over 65 will double to 26 per cent between now and 2036.  At the same time, the proportion of those at prime working age (25-59) will decline to 46 per cent - less than half the population.  To prevent a labour shortage, it will be necessary to maximise the workforce, including encouraging retirees to return to the job market.

To help address this concern, The Hong Kong Society for the Aged (HKSA) has established a four-year project called "Elder-Friendly Employment Practice" (EFEP) under the auspices of CADENZA: A Jockey Club Initiative for Seniors, which is funded by The Hong Kong Jockey Club Charities Trust.  It aims to identify the working needs of older residents and encourage the Government and local companies to adopt more flexible retirement policies, so as to create a social atmosphere in which elderly and post-retirement employment is encouraged.

Today (29 May), the HKSA and CADENZA organised a seminar to announce and discuss the findings of an EFEP study, the first local study on elderly employment, on what incentives older workers needed to remain in the workforce.

Over the past two years, interviews were undertaken with focus groups comprising some 100 participants aged 50 and over, and feedback was also collected from some 760 questionnaires.  From this data, seven significant factors were identified as having an impact on encouraging post-retirement employment, namely flexible work schedules; the ability to work part-time; being given the flexibility to balance work and personal life; being respected; having the chance to use one's skills; earning a reasonable salary; and having the ability to learn new things. 

From the resulting responses, the EFEP study has concluded that in order to attract and retain older workers, companies must create a working environment that meets their needs in terms of offering flexible working arrangements; valuing their knowledge, experience and skills; and providing them with training and retraining opportunities.  It also recommended providing better employment services for senior job seekers by developing a job database and tackling age discrimination, whereby older workers are often stereotyped as being less productive.

The Club's Executive Director, Charities, Legal & Corporate Secretariat, Douglas So, explained that the results of EFEP could inspire the community to stimulate an in-depth discussion on post-retirement employment.  "Today's older workers represent a very valuable resource as they are better educated and live a healthy and energetic lifestyle," he commented, "Through post-retirement employment, the elderly can earn an income, enhance their sense of self-worth, and hence contribute to a positively ageing society.  A more elderly-friendly working environment would benefit older workers and society's economic and social development, creating a win-win situation."

As one of the largest employers in the city, The Hong Kong Jockey Club currently has 26,000 full-and part-time staff.  During today's seminar, Director of Human Resources and Sustainability Mimi Cunningham outlined the Club's efforts in promoting post-retirement employment. "People are our source of energy and we put a lot of emphasis on staff training, including our retirees as they are valuable human resources to the Club. Apart from organising a series of seminars to prepare them for retirement, we maintain close contact with them and will rehire them whenever suitable job opportunities arise. To further engage them, they will also be invited to join the Clubs' CARE@hkjc Volunteer Team, and to take part in large-scale projects such as the 2008 Beijing Olympics equestrian events."

As well as conducting research, EFEP is organising employer education programmes and has set up a job referral network for retirees.  It has also established the "Program STAR -Senior Talent Acquisition & Retention" service to offer employment assessments to older job-seekers, and identify the type of work or training that would suit them best, and provide training programmes that can enhance their employability and competitiveness.

At least 100 retired people have completed this training in the first quarter of 2010 and some have already been successful in gaining new employment, receiving many positive remarks from their new companies.  At today's seminar, a group of the training graduates took the opportunity to establish an alumni association under the witness of the officiating guests and participating employers.

CADENZA: A Jockey Club Initiative for Seniors is a project launched by The Hong Kong Jockey Club Charities Trust with a donation of HK$380 million in 2006.  The project aims at nurturing academic leadership in gerontology and changing the mindset and attitude of the general public through a range of training and public education programmes.  Cross-sectional collaboration between organisations and the implementation of innovative elderly services and programmes are also encouraged in order to bring about a new mode of elderly care services to prepare for a rapidly ageing society.  Details of CADENZA are available at www.cadenza.hk.

The Hong Kong Jockey Club

Founded in 1884, The Hong Kong Jockey Club has become one of Hong Kong's best known and respected organisations, providing the public with world-class sporting entertainment as well as being the city's major non-Government community benefactor, now donating more than HK$1 billion a year to charitable and community projects.  It has been a part of Hong Kong through good times and bad, sharing the city's growth and development with its people, and is dedicated to enhancing the quality of life for future generations.