• About Us
  • Advertise with Us
  • Contact Us
  • Events
  • Newsletter
  • Podcasts
  • Digital Magazine
  • Home
  • News
  • Opinion
  • Entrepreneurship
  • Self Development
  • Growth
  • Finance
  • Marketing
  • Technology
  • Sustainability
  • About Us
  • Advertise with Us
  • Contact Us
  • Events
  • Newsletter
  • Podcasts
  • Digital Magazine
NZBusiness Magazine

Type and hit Enter to search

Linkedin Facebook Instagram Youtube
  • Home
  • News
  • Opinion
  • Entrepreneurship
  • Self Development
  • Growth
  • Finance
  • Marketing
  • Technology
  • Sustainability
NZBusiness Magazine
  • News
  • Opinion
  • Entrepreneurship
  • Self Development
  • Growth
  • Finance
  • Marketing
  • Technology
  • Sustainability
News

Under-used over-55s can bridge skills gaps

Wise Ones, the online service helping people over the age of 55 find employment, is calling…

Glenn Baker
Glenn Baker
August 21, 2017 4 Mins Read
381

Wise Ones, the online service helping people over the age of 55 find employment, is calling on all employers to look more seriously at taking on older workers.

This comes as an increasing contradiction appears in New Zealand employment whereby the number of over 55s is growing while at the same time industries and businesses experience damaging skills shortages.

The potential is for this to intensify as the debate over reducing immigration numbers, and the impact on business, becomes more vocal in the lead up to the general election.
 
Kate Ross, founder of Wise Ones, says despite the growing numbers of over-55s they often struggle when trying to find work.

“People in this age bracket are being over-looked and there’s an expanding part of our population that’s over-55 and under used.
 
“We hear stories all the time of people who are despondent and losing hope they will ever get another job, even though they have great CVs, are very skilled and have a fantastic work ethic. 

“And while this happens, there is a question about lack of skills in the country if the immigration tap is turned down.

“We need to ask if employers have really considered every option including looking at people over-55 as a solution to the skills shortage?”

Around 80,000 Kiwis have been identified as potential job seekers, and 100,000 are under-employed or wanting to work more (1).  Estimates show that overall 11.8% of the working population is under-utilised, and many of these are over the age of 55.  These figures contradict and questions the low unemployment figure of 4.8% to the June quarter. 

Typically it also takes longer for over-50s to find work with them having about a 30% lower chance of employment in the first year of looking, and 11% after five years (2).

The issue of under-utilisation of older workers is set to grow with Statistics New Zealand expecting the 55 year old and over age bracket to grow from 1.1 million people in 2011, to 1.7 million in 2036, and 2.2 million in 2061, 37% of the population (3).

Reflecting this, the numbers of people 55 and older in the labour force is expected to increase from 485,600 people in 2011 to 823,400 in 2036 (3), a 70% rise.
 
But the spectre of lingering ageism remains with 40 per cent of workers saying they have experienced age-related discrimination over the last five years (4). 
 
“There are many employers who are already embracing this demographic change to our workforce, and are employing a far wider range of ages than they used to, but we need to do more as a country to use all the talent we have,” Kate Ross continues. 
 
“But research from the Commission for Financial Capability shows 83% of companies have no policies or strategies in place for workers aged over 50, so this is a real issue that needs to be addressed by business leaders and groups that support all commercial organisations – we can’t ignore demographic change,” she says.
 
Wise Ones launched in February 2017 to address the social and economic issue of people needing or wanting to work for longer to fund longer retirements as our population ages.  It has around 10,000 visits a month to its website from people interest in finding a role, as well as employers wanting to benefit from the experience knowledge and skill provided by older employees. 
 
Kate Ross believes there is an important story to tell in New Zealand about the over 55s being under-used, the theme for a Business Central event being held in Wellington on 17th August.
 
“We hear stories all the time about how frustrating it is for people in this age bracket to find work but at the same time almost half of businesses say they face a shortage of highly experienced and skilled workers (5),” she says.  “We are all going to get there at some point so it’s time for employers to look more at all ages and all options to find the best people.”
 
“Earning and being productive boosts confidence and self-esteem for people, and the loyalty, resilience and great work ethic should be attractive to any business – we have a booming economy but lots of older people are not able to find a job.”
 
Wise Ones is taking a social enterprise approach to its business to support the belief that everyone no matter what their age has the ability to be productive, to support themselves, their families and communities, and the economy as a whole.  
 
The concept was developed by a team of experts who have decades of experience in the recruitment business across New Zealand and Australia.
 

Share Article

Glenn Baker
Follow Me Written By

Glenn Baker

Glenn is a professional writer/editor with 50-plus years’ experience across radio, television and magazine publishing.

Other Articles

Europcar
Previous

Funding helps secure electric future

Warning Future Ahead sign
Next

Why your accountant can help you succeed at succession

Next
Warning Future Ahead sign
August 22, 2017

Why your accountant can help you succeed at succession

Previous
August 21, 2017

Funding helps secure electric future

Europcar

Subscribe to our newsletter

NZBusiness Digital Issue – March 2025

READ MORE

The Latest

A start-up journey from hip-hop to RTDs

May 30, 2025

Episode 17: Turning the mic to Lilah McDonald

May 29, 2025

From Nelson to the world

May 28, 2025

It’s now for nature

May 28, 2025

Why small business contracts are under the microscope

May 26, 2025

SYOS Aerospace tops stellar 2025 NZ Hi-Tech Awards line-up

May 26, 2025

Most Popular

NZBusiness Digital Issue – June 2024
Understanding AI
How much AI data is generated every 60 seconds? New report reveals global AI use
Navigating economic headwinds: Insights for SME owners
Nourishing success: Sam Bridgewater on his entrepreneurship journey with The Pure Food Co

Related Posts

Budget 2025 reaction: Business applauds investment incentives, concern over KiwiSaver changes

May 22, 2025

Budget 2025: SMEs seek tax cuts, less red tape as confidence wavers

May 21, 2025

Final speaker lineup announced for Ignite ‘25 Growth Summit

April 30, 2025

New data reveals why Kiwi SMEs are borrowing

April 28, 2025
NZBusiness Magazine

New Zealand’s leading source for business news, training guides and opinion from small businesses to multi-national corporations.

© Pure 360 Limited.
All Rights Reserved.

Quick Links

  • Advertise with us
  • Magazine issues
  • About us
  • Contact us
  • Privacy policy
  • Sitemap

Categories

  • News
  • Entrepreneurship
  • Growth
  • Finance
  • Education & Development
  • Marketing
  • Technology
  • Sustainability

Follow Us

LinkedIn
Facebook
Instagram
YouTube
  • Home
  • News
  • Opinion
  • Entrepreneurship
  • Self Development
  • Growth
  • Finance
  • Marketing
  • Technology
  • Sustainability