Abstract
Australian government and organizational age-management policies continue to target employment participation among older workers in light of an aging population. Typically, efforts to reduce early retirement among older workers have focused on well-established factors, including the promotion of worker health, reducing injury, supporting caregivers, reducing age discrimination and enhancing skill development. This research extends on the former approach by examining established factors along with important emerging factors, namely work-life conflict, work centrality and person-job fit. Additionally, the research analyses the effects of gender and financial pressure on older workers’ employment participation and preferences. Logistic regression analysis of cross-sectional survey data involving 1,504 Australians aged 45–65, revealed that two established factors, physical health and caregiving, and all three emerging factors were associated with employment participation and preferences to be employed. However, important variations on the basis of gender and financial pressure were also identified. Caregiving was more strongly associated with the preference to remain employed for men (OR = 0.2.54, p < 0.01) than women (OR = 1.03, ns) and person-job fit was more strongly associated with the preference to remain employed for women (OR = 1.64, p < 0.001) than men (OR = 0.91, ns). Work-life conflict was more strongly associated with the preference to leave employment for those reporting limited financial pressure (OR = 0.60, p < 0.001) compared to those in poorer financial circumstances (OR = 0.87, ns). These findings suggest that organizational age management policies should focus on both established and emerging factors, particularly the provision of flexible working conditions and improving the psychosocial work environment. However, such efforts should carefully consider the different needs of men and women, and those under varying levels of financial stress. With respect to government policy to promote employment participation, the findings support a stronger focus on improving physical and psychosocial work conditions rather than increasing the pension eligibility age. This may require further collaboration between government and employers.
Highlights
The predicted economic costs of population aging have stimulated the development of government policies to prolong employment in developed countries (e.g., Australian Government, 2011; Krynska et al, 2014)
According to the bivariate correlations (Table 2), being in paid employment was associated with better physical health (r = 0.29, p < 0.01), mental health (r = 0.15, p < 0.01), fewer caregiving responsibilities (r = −0.11, p < 0.01), stronger work centrality (r = 0.09, p < 0.01) and less financial pressure (r = −0.17, p < 0.01)
The preference to remain employed increased as physical health (r = 0.12, p < 0.01) and person-job fit improved (r = 0.16, p < 0.01)
Summary
The predicted economic costs of population aging have stimulated the development of government policies to prolong employment in developed countries (e.g., Australian Government, 2011; Krynska et al, 2014) This has led to the development of age-management policies and practices to address well-established barriers to employment for older workers, including poor health, workplace injury, age discrimination, caregiving responsibilities and skill deficits. Prior research has taken insufficient account of how these factors may differentially affect men and women or people experiencing different levels of financial pressure This research addresses these increasingly important issues by examining how established and emerging factors contribute to older workers’ employment participation and preferences and the extent these relationships are moderated by gender and financial pressure. A recent report on employment patterns in OECD countries notes a reversal in a previous trend toward early retirement, with a rise in the employment rate for the 55–64 age group on average, from 48% in 1990 to over 59% in 2016 (Martin, 2018)
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