Older generations shape the future
PETALING JAYA: A multigenerational workforce offers diverse skills and perspectives and is crucial for the country's continued progress, say industry experts.
They urged the government and employers to offer better support and benefits for the growing ranks of senior workers to capitalise on their experience.
Malaysian Employers Federation president Datuk Dr Syed Hussain Syed Husman urged employers to adopt strategies to retain experienced talent past retirement age.
'Employers could also implement flexible work arrangements, remote and hybrid work to accommodate older employees while maintaining a multigenerational workforce,' he said.
Syed Hussain stressed the importance of continuous training in digital tools, AI, and automation to keep older workers relevant, as well as combating age bias and providing ergonomic workplaces.
He said failure to adapt to an ageing workforce could lead to problems for the country such as a decline in the overall labour force participation rate.
'This is particularly true when older workers retire without a proportional replacement by younger workers,' he said.
Syed Hussain said manufacturing and construction were among industries most vulnerable to the effects of an ageing workforce.
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'These sectors rely heavily on physically demanding labour, where ageing workers face limitations. We must adopt automation and robotics to ease physical strain and attract younger workers,' he added.
He said the healthcare industry also faces challenges.
'The workforce itself is ageing while demand for services surge.
'Structured mentorship programmes and incentives for delayed retirement are needed,' he said, adding that the agriculture sector could also be affected due to its high number of older workers.
Union Network International-Malaysia Labour Centre president Datuk Mohamed Shafie BP Mammal said another option to consider was extending the retirement to 62 from the current 60.
It was reported in The Star previously that Malaysia's retirement age is below the average in Organisation for Economic Cooperation and Development countries, recorded in 2022 at 63.6 years for women and 64.4 years for men.
Last year, Retirement Fund Inc chief executive officer Datuk Nik Amlizan Mohamed was reported to have suggested increasing the retirement age.
Minister in the Prime Minister's Department Datuk Seri Dr Zaliha Mustafa, in a parliamentary written reply in November last year, said there were no plans to raise the retirement age for civil servants, adding that the government was ready to do a detailed study on the matter if there was a need.
Mohammed Shafie said workers who retire at 60 have a wealth of experience and can continue contributing to industries for many more years.
'Given the worker shortage, we should not overly rely on foreign workers but instead focus on utilising our workforce,' he said.
He said many other Asian countries are also increasing their retirement age as they come to appreciate their ageing workforce.
'The experience of older workers is an asset to the country, enabling them to train the younger generation,' he said.
Asked if the government was doing enough to meet the needs of the older workforce, Mohamed Shafie urged employers to change their mindset.
'Strategies need to be in place to appreciate this segment of the workforce, with systems addressing their age-related needs.'
Mohammed Shafie said companies with an older workforce should offer better packages.
'Older employees deserve better perks; for example, EPF contributions should be increased even for those on contracts,' he said.
'Unfortunately, many companies are not friendly towards older workers, although they realise the need for such workers.
'This situation needs to improve.'
As Malaysia moves into a new environment, Mohamed Shafie urged the government to plan for the future of the workforce by having a special task force committee.
'The special task force committee, involving unions, employers and the government, should be established to tackle these issues in the coming years for the short term as well as the longer term,' he said.
Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the country needs to boost its population by focusing on strengthening the family institution.
This, he said, could help address the challenges related to an ageing population.
'We need to promote the narrative that forming families through marriage is an ideal path to better lives and nation-building,' he said.
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