Citi’s Post

‘Age and work’ is not just a question for US Presidents, but for us all. I enjoyed contributing to Citi’s just published Citi GPS report - Embracing Demographic Transition (below), led by Andrew Pitt, Amy Thompson, Nathan Sheets and Alex Miller. It’s worth reminding ourselves how far we have come - no continent had a life expectancy of more than 40 years in the nineteenth century - but also debating how to improve. Extending working lives not only changes economics (higher GDP, more personal financial freedom etc) but can also improve health and happiness (improving stimulation, social interaction, or purpose). As discussed in more detail in the report, there are several ways to give more people the option to work for longer: 1. Offer more flexibility for older workers, including spreading work differently across lives (with more leisure taken pre-retirement) 2. Technology can help deliver better and more age-friendly jobs, such as reducing mundane tasks, or using robots to carry or lift 3. Improve anti-discrimination policies, measurement, reporting and enforcement 4. A quid pro quo for longer working lives, could be the rotation out of senior positions into other roles, such as mentoring (younger workers and AI). While employers in Japan have to offer new contracts to workers who reach retirement age so they can stay on, often this is with reduced pay, status and workloads 5. Technology can help reduce discriminatory recruitment or mobility, such as excluding age as a factor in Talent Intelligence Platforms 6. Tech, such as digital platforms, can help with what is often a big issue - matching talent with opportunities 7. Continuous learning and development (budgets, access and time) is needed to help older workers transition to new roles. This can be incentivised via tax changes, apprenticeships (including using levies for older workers), micro-credentials (shorter / flexible / cheaper / stackable), or lifelong learning vouchers (as happens is Singapore) 8. More career advice and support for older workers can help, as shown in Japan 9. Older workers represent a big opportunity for the 3rd sector (charity / volunteering), but we must find ways of better recognising and valuing H2H (Human-to-Human) contribution, especially in an AI Age 10. Other ??? Suggestions welcome…..

I was thrilled to provide my insights around financial planning for #longevity in Citi's latest GPS report titled, "Embracing Demographic Transition." Explore the full report today!

Society could adapt to changing #demographics positively by reframing how we respond. Our latest Citi GPS report: Embracing Demographic Transition, explores how: 🟩 maximizing the economic contribution of older groups, 🟩 supporting economic resilience in later life, 🟩 preventing the onset of dependence, and 🟩 ensuring access to affordable healthcare for all, could all work towards us leading positive and productive lives for longer. 👉Read the report to find out more: https://on.citi/3Wt5l6y 👀 #aging #economy #population

Society could adapt to changing #demographics positively by reframing how we respond. Our latest Citi GPS report: Embracing Demographic Transition, explores how: 🟩 maximizing the economic contribution of older groups, 🟩 supporting economic resilience in later life, 🟩 preventing the onset of dependence, and 🟩 ensuring access to affordable healthcare for all, could all work towards us leading positive and productive lives for longer. 👉Read the report to find out more: https://on.citi/3Wv2IB1 👀 #economy #aging #population

Society could adapt to changing #demographics positively by reframing how we respond. Our latest Citi GPS report: Embracing Demographic Transition, explores how: 🟩 maximizing the economic contribution of older groups, 🟩 supporting economic resilience in later life, 🟩 preventing the onset of dependence, and 🟩 ensuring access to affordable healthcare for all, could all work towards us leading positive and productive lives for longer. 👉Read the report to find out more: https://on.citi/4fd4zly 👀 #aging #economy #population

Europe is facing a significant demographic shift as most nations on the continent are expected to experience population decline in the coming years. This aging population will have significant implications for the region's economy, workforce, and social fabric. It's crucial to consider the challenges and opportunities that come with this change and take action to address them. #demographics #aging #depopulation

Is this a problem or an opportunity? The answer depends on whether we embrace it and act, or hold onto untrue and outdated stereotypes. Oh, and by the way, it's not just Europe. It's global. #longevity #longevityeconomy #aging

Super interesting to see this map of demographics and the shifts that are happening- these shifts will make countries need to rethink policies, working practices and more #work #demographics #ageing

🌏 Did you know? Half of the global population is 30 or younger, and this number is set to rise to 57% by 2030! This demographic shift highlights the growing influence of young voices in shaping our future. As we approach this milestone, let’s ensure that these voices are heard and that we’re empowering the next generation to lead with innovation and vision. 🌟 #YouthPower #FutureLeaders #GlobalDemographics #EmpowerYouth #whynot