Just like their counterparts in Hong Kong, bosses in Malaysia and Singapore feel that flexible-working is crucial to retaining older workers.
According to a survey by Regus, 9 out of 10 respondents in Malaysia (91%) and Singapore (92%) see flexible working as key to retaining older workers in their workforce.
Additionally, out of the 44,000 respondents surveyed, 95% of those in Malaysia and 96% of those in Singapore are sure that flexible working is the key to keeping those who care for a relative in employment so that they can better juggle the demands of their family and their professional life.
Despite most older workers being happy to continue working, the reality is, inflexible working hours and the long commute to work are very off-putting to older staff who often also have family members to care for.
What bosses in Singapore need to know about hiring older workers
57% of Singaporeans want work-life balance over higher pay
Bosses should re-design policies to suit staff of all ages: Minister for Health
With the push for productivity and the expected growth of the workforce expected to be low, implementing flexible working is a strategy companies can use to retain the skills and expertise of their older workforce.
“Older workers often have caring responsibilities, potential health problems, and a desire to spend more time with their partner or family or to take up a new hobby or skill,” commented Paul MacAndrew from Regus.
“Flexible working therefore is an ideal solution for those who want to remain in the workforce past retirement, but maintaining control of their schedule and reducing lengthy commutes in to work.”
He also explained that flexible working can also provide older workers with a “bridge” into retirement.
“Reports show that often the complete loss of professional work can leave retired workers feeling depressed and unmotivated even to the point of affecting mental health. Flexible working can help older workers delay retirement without giving up too much of their hard-earned freedom.”