Philips Australia and New Zealand is part of Human Resources Director Innovative HR Teams 2018
Philips Australia and New Zealand
HOT INNOVATION AREA: DIVERSITY AND INCLUSION
Philips has been proactive in addressing what it describes as a “demographic cliff”: an ageing workforce. The company employs over 100 service engineers around Australia and New Zealand, 94% of whom are male and close to 50% of whom are aged over 50. Many are marking their 30- and 40-year anniversaries with the company.
To change the forecast outcome of lost technical expertise and damage to customer relationships, Philips introduced ‘Life Options’. External consultants and financial advisers were engaged to support mature-age workers. Taking into consideration their motivators, interests, strengths and personal circumstances, the goal was to challenge assumptions that these employees would simply stop working at age 65. Many participants produced a personal plan to reduce days worked each week over time, allowing them to either work longer than retirement age if they chose to, or to begin to bring their transition forward.