Accelerate May 2015 - Page 84

Resourcing & Rewards • Encourage older workers and give them a voice; • Manage retirement process proactively; • Find ways to retain or transfer critical knowledge within organisations. These are intended to create more age diverse workplaces and encourage and enable employees to stay at work longer. Other responces include greater use by organisations of migrants, immigrants and plant relocation, both internally, such as from China’s coast to inland, or externally, such as from South Korea to Malaysia. More esoteric responses include speed dating events in Singapore (Wassener, 2014). Other impacts will be fiercer competition for shrinking numbers of younger workers facing increased family-related demands and responsibilities. There will be a loss of skills and expertise for organisations. Conclusion Clearly, the waves of demographic change will have a huge impact in Asia and businesses operating here. For example, strategies and tactics to deal with shifts in amounts of types of provision ie education (more or less primary, secondary and tertiary education) and shortages of commensurate teachers, academics and providers, is required. Also, the changes do not take place in a vacuum, but rather in the mix of particular cultures, values and practices, such as patriarchy and Confucianism, with respect for families, age and senioritybased rewards. Professor Chris Rowley, GradCIPD, BA, MA (Warwick), DPhil (Nuffield College, Oxford) is Professor of Human Resource Management at Cass Business School, City University, London, UK and Adjunct Professor at Griffith Business School, Griffith University, Australia. Professor Rowley is Editor of the leading academic journal ‘Asia Pacific Business Review’, book Series Editor of both ‘Working in Asia’ and ‘Asian Studies’ and serves on many journal Editorial Boards. He has published widely, with over 500 articles, books and chapters and other contributions in practitioner journals, magazines and newsletters as well giving international radio and newspaper interviews and involvement in knowledge transfer engagement. REFERENCES BBC News (2012) ‘Ageing China: Changes and Challenges’, 20 September Collinson, P (2010) ‘Solving Japan’s Age-Old Problem’, The Guardian, 20 March . IBM (2004) ‘Addressing The Challenges Of An Aging Workforce: A Human Capital Perspective For Firms Operating In Asia Pacific’, IBM Institute for Business Value, Executive Brief, IBM Global Services Mundy (2013) ‘Price Paid to Educate Children Puts S.Korea’s Economy At Risk’ Financial Times, 1 January, p.6 Waldmeir, P (2015) ‘Chinese Couples Reluctant To Have More Than One Child’, Financial Times, 13 January, p.9 . Wassener, B. (2014) ‘Asia’s Ageing Population Will Be A Topic At Davos’, International New York Times, 21 January Vernon, K. (2010) Ageing: Impact On Companies in Asia, Diversity & Inclusion in Asia Network, Community Business, Hong Kong 84 May 2015