Final year project older workers in the 21st century

• Main Authors: Hoo, Kelvin Poh San, Ng, Wei Huah, Wee, Hwee Seng
• Other Authors: Yaw Debrah
• Format: Final Year Project
• Language: English
• Published: 2015
• Subjects: DRNTU::Business::Management::Personnel management
• Online Access: http://hdl.handle.net/10356/63527
• Institution: Nanyang Technological University

The effective utilisation of older workers has not received due attention until recently. As the world's population aged at an incredible rate, many authorities become concern with the repercussions this would have on the economy of their countries. The purpose of our report is to study the current profile of older workers; review the economic conditions of Singapore for three specific periods, namely Pre60s-1970, 1971- 1980 and 1981-1992; analyse past economic conditions and labour situations; project older workers into the 21st century; and lastly recommend solutions in order to better utilise the older workers. The data necessary for this report are gathered by means of content analysis of newspapers, journals, magazines, and books. It is believed that the older workers formed a reserved army of labour. Thus, past economic conditions are discussed in relation to the unemployment and employment of older workers to show how far the above statement is true. Furthermore, many myths surround the older workers that seem to support the above statement too. As the population ages more rapidly than anybody can imagine, these myths have to be examined. Therefore, ways of counteracting the myths are presented so as to better utilise this group of potential workers known to many as the reserved army of labour. Just knowing the current profile of the older workers is not enough. It is of equal importance to project into the 21st century to know where the older workers stand and thus be able to plan for the future.