Age Management Practices and Benefits in Organisation: An Evaluation of the Effect of Economic Sector, Organisation Size, and Family Business Status

Abstract

Abstract Background The ageing of the population impacts all areas and is also a challenge for human resources management. To solve this issue, age management practices are used in organisations. To get the best potential out of everyone, this concept should not only involve older employees but should be focused on all of them. Choosing the right practice to get the desired results is a task for managers. Objectives The paper aims to determine whether the sector of the economy, the size of the organisation, or the family business status plays a role in determining age management practices and observed benefits. Methods/Approach Using a questionnaire survey, the most commonly used practices and the observed benefits were identified. Using the chi-square test, differences in chosen categories were confirmed. Results It can be stated that choosing age management practices is influenced by the economic sector, and the size of the organisation influences observed benefits. Conclusions The results can guide organisations on which practices to choose and what benefits to expect from implementing age management practices.