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Unlocking Human Capital Potential in Older Workers: Challenges and Solutions

Explore the shifting age productivity trends, the impact of training and informal learning on older workers, and the need for solid OECD indicators to invest in and secure human capital in aging populations.

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Unlocking Human Capital Potential in Older Workers: Challenges and Solutions

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  1. Human Capital and the Older WorkerThe need for solid indicators Peter Ester OSA - Institute for Labour StudiesTilburg University, Netherlands Presentation at the Second OECD World Forum “Statistics, Knowledge and Policy”Istanbul, Turkey, 27-30 June, 2007

  2. Three challenges for OECD economies • ageing & declining workforce • acceleration of globalization • swift move towards knowledge economy

  3. Solutions to challenges? • immigration scenario: little enthusiasm • most popular scenario: keeping older employees longer in the workforce • anti-early retirement policies • but: longer working is NOT enough: we need MORE productive & flexible older workers • maintain and secure older workers´human capital

  4. Shifting age productivity The Netherlands: 1989-2001

  5. Shifting age productivity The Netherlands: 1989-2001 • productivity peak has shifted to higher cohort ages by about 10 years • implication: generations differ in productivity • more recent generations are more productive • need for comparative OECD indicators of human capital by age and generation

  6. Training & work • Heckman (2000) • “Skills beget skills”  early investments promote later investments in human capital • Schils & Fouarge (2007) • training reduces early retirement •  7%-points increase of labour force participation of 50-64 year old • Self-reinforcing effect:training  employment  training  …

  7. Work experience & informal learning • Arrow (1962) • - learning by doing important determinant of productivity growth • Borghans, Golsteyn & De Grip (2006) • informal learning: 96% of total learning on-the-job • 1 year of work=1/2 year of formal education • at age 60: still 25% of working time • propose indicators for informal learning and skill acquisition

  8. Conclusions • OECD economies depend on older workers • but: competitive in terms of human capital, employability & productivity • major concern for OECD countries • need for solid OECD trend indicators on human capital of older workers • comparative indicators of human capital by age groups and by generation • comparative indicators on informal learning and skills acquisition • OECD economies need to invest in older workers • human capital of older workers: OECD’s next frontier

  9. THANK YOU

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