New roles required to allow people continue in the workforce

Speaking at The Third Act Conference in Dublin, Anne Connolly, CEO of ISAX, the Ireland Smart Ageing Exchange, said that new roles need to be invented to allow people to continue in the workforce.

In an interview given at the conference, the ISAX CEO said that the Ireland Smart Ageing Exchange is looking at ways to increase opportunities for people wishing to continue longer in the workforce, adding that this would require inventing new roles to accommodate them and allow them to design their own futures.

Populations are ageing very rapidly across the world – due to increases in life expectancy. This means that the number of people over 60 will more than double from 895 million (12.18% of the world’s population) in 2015 to 2.1 billion (22%) by 2050. Those over 80 will increase from 143 million (1.85%) in 2010 to 379 million by 2050 (3.9%).[1]

This new global economy is projected by Merrill Lynch to be worth US$ 15 trillion (EUR 13.5 trillion) by 2020. The aim of ISAX, and other such initiatives, is to develop solutions for the global smart ageing economy that allow the elderly to continue to be economically active. Another key aim of the initiative is to inform them of the opportunities that are available to them and to guide them in their choices.

Mature entrepreneurship is one such area of opportunity, and ISAX actively encourages people to think about starting their own business as an alternative to retirement. Connolly noted that, with this in mind, ISAX is implementing a joint programme with the Bank of Ireland that aims to promote entrepreneurship among the elderly and allow them to tap into the smart ageing economy.

Connolly said that the Third Act Conference provided the Exchange with an opportunity to tell people about this programme, to show them some of the evidence as to why they would make good entrepreneurs and to get them to think about possibilities that they hadn’t considered before. She noted that setting up a business would allow elderly entrepreneurs to put the accumulated life experience and industry-specific expertise that they had acquired to good use.

The theme of the conference, which was held in Dublin in April, was ‘Gearing up for Your Third Act’. At the conference, breakout groups with speakers and panel members addressed Transitioning to the Third Act, Employment and Purpose in The Third Act and Health and Wellbeing in The Third Act, amongst other topics.

The ISAX exchange is one example of a national initiative aimed at the smart ageing economy. You can find information on ongoing EU actions related to the Silver Economy here. If you are interested in information on national initiatives, you should check with your local labour or social welfare departments or with business intermediary organisations in your region to see if they have support programmes aimed at the mature entrepreneur.

For more information:

http://isax.ie/ 

thethirdactconference.com

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