Saturday, March 17, 2012

Fifty is the new thirty: Implications to Time and Attendance policies and systems

Seth's Godin's blog today touches upon a very topical subject - that of the challenges of an ageing population. The content of his post is pasted below:
"Baby boomers continue to redefine our culture, because there's just so many of us, we're used to being the center of attention.
Add into that the fact that we're living much longer and careers are becoming more flexible and it's pretty clear that in just about every cultural respect, fifty year olds are living, acting and looking more like thirty year olds every day.
This changes more than personal financial planning. It changes the marketing of every service and product aimed at consumers--and yet most traditional advertisers are stuck in the mindset that thirty is the end of your chance to find a new customer or build a new brand."

Much has been said and written about managing a multi-generational workforce, increasing the age of retirement, integrating older workers to the workforce etc. These factors have become a necessity for many countries to remain productive and there is no doubt in our minds that we will see policies and legislations to encourage and integrate older workers to the workforce.
This change will ofcourse call forth features in Time and Attendance product design that supports a multi-generational workforce. Time and Attendance products have been providing slick, mobile based applications in line with the current trend. But, probably the product design requirements for an older workforce is way different from that of the younger generation and it would be interesting to see how Time and Attendance product companies react to this change in employee demographics!
A more compelling challenge would be for the HR departments to design Time and Attendance policies that will support the integration of an older workforce into the organisation.
In our assessment, this impending change will translate into a unique market opportunity for Time and Attendance product/consulting companies. We foresee a niche market for T&A products that offer features supporting older workers in the workforce.

Oracle verified integration by Cesium - Time Clocks for PeopleSoft Time and Labor

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