Mercedes adapting workforce to Aging Population
One of the realities of the one-two punch of the Aging of the Population and Cash-Strapped Consumer investment themes across the globe is a workforce that is getting older. The size of the population over the age of 60 is set to more than double in the next 35 years across the globe and in the U.S. alone some 10,000 Baby Boomers are turning 70 years of age every day. At the same time, according to the Economic Policy Institute, the average household aged 56-61 has amassed a nest egg of just $163,000. The equates to just $8,178 a year, or $681 a month, of income over a 20 year period.
So the dreams of retirement are more than likely going to be on hold while these aging workers remain in the workforce longer. This new paradigm has implications for companies and how they operate:
BERLIN (Reuters) – Too slow, inflexible, forgetful, always off sick. Those are some attitudes about older workers that carmaker Mercedes-Benz is trying to dispel as Germany grapples with the challenges of an aging society.
The luxury brand owned by Germany’s Daimler AG (DAIGn.DE) is waging a company-wide campaign to combat those mistaken impressions. “We wanted a paradigm shift in attitudes,” said Sylvia Huette-Ritterbusch, a Mercedes personnel expert whose job is to decide what skills the firm will need in future. One initiative Daimler has developed is an exhibition to challenge stereotypes about aging. It has already been visited by 80,000 people, including 2,500 of its factory managers and has now been brought to Berlin and opened to the public.
Source: Young at heart? Mercedes cultivates its aging workforce
This exhibit by Mercedes is bringing into the public eye what the company is undertaking in its factories to adapt to these new realities of an aging workforce:
In addition to the exhibition, Mercedes has introduced demographic audits across the company to encourage employees and management to openly discuss the age structure of their teams and address ways to promote cooperation between young and old.
Initiatives that have come out of that process include the launch of a corporate video platform where older workers can post YouTube-like tutorials on complex working processes to pass on their expertise to the next generation.
The company has also launched formal joint toolmaking training for teenage apprentices and employees aged over 50 and is testing ergonomic tools, such as an exoskeleton which reduces muscle strain for workers installing parts overhead.
Other ideas include a system to help workers swap shifts more easily; allowing older staff to work part-time as they approach retirement and hiring retirees for short-term projects.
