These countries are gaining the most by employing older workers
Businesses around the world are chasing the grey dollar, but older people can contribute more to an economy than how they choose to spend their retirement funds.
Humans are living longer, which puts additional strain on healthcare provision, social care and pensions. And unless these issues are addressed, they could wreak havoc on economies in the future.
The thinking goes that by harnessing the potential of older workers, governments can raise additional tax revenues and increase spending power, which in turn boosts output.
Golden Age Index 2018
PricewaterhouseCooper’s Golden Age Index assesses the impact of older workers on different aspects of a country’s labour market, including employment, earnings, the gender gap and participation in training.
In the latest update of its report, PwC estimates that as much as $3.5 trillion could be added to the OECD economies overall by encouraging people nearing retirement age to stay longer in the workforce. This figure represents the potential long-term boost of raising workforce participation rates of over-55s to the same level as New Zealand.
At a national level, if New Zealand’s performance on employment of older workers were matched, the GDP boost could be as high as 23% for Greece, 20% for Belgium and 9% for the UK. Here’s that in dollars:
The older worker participation podium
Iceland topped the 2018 index with 84% of the 55-64 age range employed, compared with the OECD average of 60%. New Zealand was second (78%) and Israel (66.8%) took the final podium step. At the other end of the scale were Luxembourg with 40% of the same age group employed, Greece with 37% and Turkey with 34%.
Overall, the index showed an upward trend in the number of older people remaining in work across member states.
Ups and downs over time
Germany, Israel and New Zealand proved the biggest climbers, rising steadily up the index since 2003. Despite dropping a few places, the UK continued to make gains over the same period, absorbing 63% of the 55-64 age group (up from 55% in 2003) into the labour force and 21% of 65-69 year olds (up from 13%).
Mexico, Greece and Turkey suffered the biggest falls as each country dropped over 10 places down the index.
Incentives to keep working
So, what motivates people to work past retirement age? The answer is a mix of public policy and personal circumstances. The Golden Age Index identified three main drivers that influenced this decision.
Pension policies: The more governments spend on pensions the less incentive people have to keep working. The amount they receive and the age that workers are eligible to receive a pension also influence the decision to retire.
A 2012 study by Hurd, Mitchaud and Rohwedder found that public pensions have a negative effect on people’s savings and encourage them to retire early. The study concluded that a $10,000 increase in public pension worth reduces the average retirement age by roughly one month.
Life expectancy: Longer lives equate to more time spent working and there is a strong link between good health and participation in the workforce. Government healthcare policies and medical breakthroughs can facilitate people working to an older age.
Caring responsibilities: A person’s personal and financial situation are also important considerations. Caring for a spouse or a dependent could remove people’s freedom to keep working, if state care and benefits are not available. This will obviously differ from country to country.
However, taking things easy might be contagious. A husband or wife’s retirement could become an incentive for their partner to retire, too. A paper by Patrick Hesselius suggests that average sickness absence from work increases for women when their spouse retires.
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Adapting to change
Technology is transforming the way we work. Innovation, automation and AI developments create new jobs and make existing roles obsolete. The workforce of tomorrow will need to be flexible enough to pick up new skills quickly or transfer the ones they already have.
Adapting to a future with less job security may prove challenging for older workers, who are more likely to face the consequences of automation than their better-educated and better-trained younger colleagues.
The top spots on the Golden Age Index are occupied by countries that have put policy measures in place and reformed their labour markets to target older workers.
The report recommends raising the retirement age to keep people in the workforce longer. However, to maximize the benefits of this policy governments need to support workers with lifetime learning and retraining programmes, to facilitate the skills needed for longer careers.
Making work options and pensions more flexible also supports the changing needs of older workers, by increasing opportunities for part-time or temporary jobs, as well as offering partial retirement options.
The physical needs of older employees is another important consideration. As well as adapting roles, employers can redesign factories and offices buildings to attract older workers.
The Golden Age Index figure of a $3.5 trillion boost to the OECD economy may still be some way off, but if more countries adapt the structure of their labour market and adopt a more flexible approach to older employees, the world will be working towards it.
Quick and Dirty
Things that are fixed with great speed, but as a result, it’s probably not going to work very well. The quick trip this year did not expect any result even after a month and I was little depressed. But the Brainwave and Udemy courses I am doing are really balancing.
There’s No I in Team
To not work alone, but rather, together with others in order to achieve a certain goal. The recent attempts to work as a team member without putting skin in the game has not worked. Partner trouble of the past always comes back however much I try to let it go.
Burst Your Bubble
To ruin someone’s happy moment. No I did not and will not do that.
Break The Ice
Breaking down a social stiffness. Hmmm… I think I shall shrink all other social activities and whatever is going on and just focus on 2 or 3 major big ticket items only. I need finishiative myself.
Right Off the Bat
Immediately, done in a hurry; without delay. But it did not yield any results. May be the introduction was not done well or my offerings were wrong or may be I was not seen as the choice or I failed to sell my services well.
I Smell a Rat
A feeling that something is not quite right, or awry. That sinking feeling ! Ahh ! but I am learning lessons on Self hypnosis and they are good. They work.
It’s Not Brain Surgery
A task that’s easy to accomplish, a thing lacking complexity. No. I do not have any simple task in my task list. I must just junk it and fill it up with small simple tasks and steps I can do and applaud myself , pat my own back.
In a Mentor’s life, Mentees come for:
1. A Reason
2. A Season,
3. Or for life and accept him/ her as Life Coach.
After a longish Five and half month I bid adieu to a worthy mentoree finally today.
Free verse by Jay
(On Cloud Nine:Meaning: Having strong feelings of happiness or satisfaction. )
Congratulations, however hard you try,
I Will always Praise.
Do congratulations make you shiver?
The communion that’s really anathema,
Above all others are the serenades.
Do serenades make you shiver?
All that is little is not hello,
hello, by all account is big.
Down, down, down into the darkness of the hello,
Gently it goes – the liberal, the high, mighty fellow.
Adieu is faces of death music.
faces of death music is Adieu.
“a strolling guitarist serenades the diners”.
“a strolling guitarist serenades the diners”,
“a strolling guitarist serenades the diners”.
Birds of a Feather Flock Together Meaning: People tend to associate with others who share similar interests or values. Have to find more and more likeminded people going forward that people poles apart.
Rain on Your Parade Meaning: To spoil someone’s fun or plans; ruining a pleasurable moment. No. Not happening. Won’t do that.
Hit Below The Belt Meaning: A boxing term. Also often used to refer to inappropriate words, or comments that are too personal. NEVER.
Poke Fun At Meaning: Making fun of something or someone; ridicule. Not happening, I am in a learning mode. Learnt a bit of self=hypnosis on Udemy and will try and find internal peace. have a Heavy head though 🙂
Quality Time Meaning: Spending time with another to strengthen the relationship. Yes meeitng coming up. started a new startup too.
Fool’s Gold Meaning: Iron pyrities is a worthless mineral that resembles gold. May write another poem today on this topic.
Tug of War Meaning: It can refer to the popular rope pulling game or it can mean a struggle for authority. Have no tug of war situation except one tough pricing negotiation coming up tomorrow..
Curiosity Killed The Cat Meaning: Typically said to indicate that any further investigation into a situation may lead to harm. I think enroling in 58 couses on Udemy is ENOUGH !
Throw In the Towel Meaning: Giving up; to surrender. No. Never. Not happening.
Eat My HatMeaning: Having confidence in a specific outcome; being almost sure about something. Yess. Will begin teaching SCM Logistics course again and take up paid coaching/ mentoring assignments for Branding/ Hyperscaling of startups.
Spiritual understanding is born of harmony between mind and heart.
This harmony of mind and heart does not require the mixing up of their functions.
It does not imply cross-functioning, but co-operative functioning. Their functions are neither identical nor co-ordinate.
Mind and heart must of course be balanced but this balance cannot be secured by pitching the mind against the heart or by pitching the heart against the mind.
It can be attained not through mechanical tension, but through intelligent adjustment.
——-AVATAR MEHER BABA
[Source- Discourses by Meher Baba, volume-I, p-141 (Copyright ©1967 by Adi K. Irani, King’s Rd., Ahmednagar, Maharashtra, India]
As reader of palmistry I was scared when one astrologer gave negative connotation of my head and heart lines going together.
- it had scared me.
Some of my rash decisions in life always told me about my inner conflict between my mind and heart.
It was soothing to read the Masters advice.
Wake Up Call Meaning: An occurance of sorts that brings a problem to somebody’s attention and they realize it needs fixing. Just wondering, how many wake up calls one needs? One per day? For those day dreaming? Multiple times a day:)
Like Father Like Son Meaning: Resembling one’s parents in terms of appearance or behavior. Hmmm…. Appearance is OK. Behavior – may be not! 🙂
In the Red Meaning: Losing money. Being in debt. But the people in Red so get habituated of high living and dependence on others money – they seldom come down from their high horses.
A Chip on Your Shoulder Meaning: Being angry about something that happened in the past. Yes. It happens to me all the time. Difficult to let go of the past.
Mouth-watering Meaning: Delicious; something that looks or tastes appetizing.
Foaming At The Mouth Meaning: To be enraged and show it. Ha Ha ha – I do it without foaming at the mouth – I type!
Cry Wolf Meaning: Someone that calls for help when it is not needed. Someone who is lying. Hmmm… many recent cases of false alarms responded – leading to waste of time and going into a spin unnecessarily.
Easy As Pie Meaning: Something that is easy. Nothing is? Is there anything easy at all?
Tough It Out Meaning: To remain resillient even in hard times; enduring. Tough minded optimision, grit, determination and a firm commitment – yes, that’s what it is for me.
- Shot In the Dark Meaning: An attempt that has little chance for success. But worth taking. I don’t leave till the end, whenever it comes – it may or may not come. Keep at it.
- Birds of a Feather Flock Together Meaning: People tend to associate with others who share similar interests or values. Yes. Especially Conniving, Nefarious, Nexus of Corrupt always find ways to come together.
- On the Ropes Meaning: Being in a situation that looks to be hopeless! Hmmm… In such cases, I do not persist. I take a walk. A childhood trait. Whenever there was an issue about Captaincy and someone wanted to be one instead of me – I’d walk away and start a new club, a new team and remain the Captain. What an authoritarian, autocrat I was. No?
- Down And Out Meaning: (1) A term used in a boxing. (2) Someone who has become incapacitated. No. Never. Never give up. I was able to contain the heart disease with Doctors, family help and my own determination. I still live with half a heart pumping at only 35% but I choose to live and not give up.
- Hear, Hear Meaning: A shout of agreement, or to draw attention to a speaker. No many times do we hear this. These days, like the purchase managers of the olden days, people are taught to say NO NO NO NO till their tongue bleeds. 🙂
10 Crimes Committed Using A Drone
Drones have drastically changed the way we explore the skies and film breathtaking landscapes. As much as this revolutionary product changes our lives, however, it can pose a threat if it’s used for sinister purposes.
It’s disturbing to discover all the things that criminals can do with technology as advanced as this. With drones, they can exploit various kinds of privacy laws that aren’t as strict as they should be. This makes it easier for them to commit their devious acts of malevolence and get away with it.
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10Filming A Cashpoint (ATM)
Everyone knows that when you go to an ATM to withdraw money, you need to be aware of your surroundings so that nobody sees you entering your personal identification number (PIN). Banks have even installed privacy screens and dividers specifically for this reason. Back in August 2016, a drone could be seen filming people standing at an ATM in Templepatrick, Northern Ireland, and possibly recording the input of their PINs.
Once someone noticed the offending drone sticking its camera in other people’s business, it flew away and ended up colliding with a nearby taxi. Although a male suspect was forced to pay the owner of the taxi for damages, the police were unable to prove that the video footage was taken with criminal intent.
9Drug Delivery To Ohio Prison
Instead of trying to smuggle in drugs the conventional way, a prisoner’s buddies thought out of the box—as in outside of the prison yard. They strapped 7 grams (0.25 oz) of heroin, 57 grams (2 oz) of marijuana, and 142 grams (5 oz) of tobacco onto a drone and sent it flying over the walls of the Mansfield Correctional Institution in Ohio.
Once the drone dropped the drugs for the intended prisoner, a fight broke out among the inmates. One of them grabbed the special delivery and threw it over the fence to another recreational yard.
Correctional officers managed to bring the fight under control with the use of pepper spray. They had to strip-search nearly 200 inmates to find the drugs, and the nine prisoners who were mainly involved in the fight were placed in solitary confinement.
8Lethal Weapon Delivery To Oklahoma Prison
Another group of criminals took note of the Ohio prison incident just mentioned and tried it for themselves. This time, they upped the ante by including a cell phone, hacksaw blades, drugs, and super glue.
They tied everything to the drone with a fishing line so that the contraband could simply be swiped from the drone. Unfortunately, the drone clipped the razor wire of the prison walls and crash-landed, leaving the savage inmates to fight over the forbidden materials until correctional officers were able to step in.
The crashed drone was taken as evidence by the Oklahoma Department of Corrections. Its director, Robert Patton, applauded the quick action and diligence of the staff working at the Oklahoma State Penitentiary in McAlester, where the event took place.
It is unclear if anyone was ever successfully prosecuted for this incident. Charges were dropped against Marquis Gilkey in 2016, although they may be refiled later. Gilkey had been charged with attempting to bring contrabandinto a penal institution and related offenses.
To catch a hacker, you have to think like one. Fran Brown and David Latimer, who work for security consulting firm Bishop Fox, developed a drone that can gain unauthorized access into various kinds of Wi-Fi networks. Dubbed the “Danger Drone,” it’s basically a Raspberry Pi computer loaded with hacking software and strapped to a kit-built drone body.
The device has a 1.6-kilometer (1 mi) range using normal radio control, but it can be configured to receive its signals using cell towers. As an example, this drone can “rickroll” vulnerable Chromecast devices. It’s the equivalent of secretly changing the TV channel to mess around with someone watching.
Although the idea of a hacking drone is nothing new, this particular concept can change things significantly as it can make hackers more discreet and less at risk of getting caught.
The Islamic State militant group (ISIS) managed to get their hands on hundreds of inexpensive, portable drones. These devices were used to slay and terrorize dozens of their enemies on the battlefields of Iraq and Syria. When ISIS’s Mosul bastion was defeated in 2017, Iraqi forces found scores of drone factories.
ISIS manufactured two kinds of drones. One dropped a small explosive, and the other detonated itself once it came close to its target, which completely destroyed the drone as well as damaging or destroying the target.
Some drones that dropped explosives were also kitted out with a camera, taking footage of the chaos caused below. It wasn’t long before other militant groups started using drones as well. For example, Ahrar al-Sham and Jund al-Aqsa have already adopted this tactical approach but on a comparatively limited scale.
In June 2018, a drone was spotted hovering over a Cambridgeshire village for four consecutive days. A few days later, a home was raided. This led to suspicions that the drone was used to stake out potential homes to rob.
The thieves knew exactly the best point of entry as they managed to break through a bathroom window and ransack the house. The police were unable to link the drone sightings with the burglary.
There’s been a surge in incidents like this, with police called out to investigate because of safety or security concerns. This excludes all the times they were called about drones being a nuisance and violent fights occurring between annoyed neighbors and drone enthusiasts.
4Flying Over Restricted Airspace
In mid-2018, records revealed that airport pilots had reported almost 250 unregistered drones illegally flying around restricted airspace at airports the prior year. This poses a serious danger for large planes as drones can get sucked into the engine or crash through the cockpit windows, potentially injuring or killing pilots in the process.
Pilot Jeff Munford was enjoying his leisurely ride across the sky in his Cessna when a drone nearly hit him and his passengers. Traveling at those speeds, the drone would have easily caused severe injuries or even death.
According to a local police department, offenders flying their drones in restricted airspace cannot be prosecuted in any way unless they commit a local or state crime. This is because nobody is sure who regulates a restricted airspace and who exactly needs to take legal action.
When the question was posed to the FAA, they simply said that they don’t impose criminal penalties. According to them, that was a question that local law enforcement could answer. It’s just an endless blame game. Meanwhile, drone enthusiasts keep doing what they love while potentially endangering the lives of the people around them.
3Obstructing An FBI Hostage Raid
In 2017, an oddly impressive criminal tactic hit FBI agents trying to complete a hostage raid outside an unidentified US city. While the entire rescue team was set up in an elevated observation post to assess the unfolding situation beneath them, a whole swarm of drones approached and circled their position, essentially rendering the agents blind.
Not only did the criminals anticipate the FBI’s arrival, the cameras that were affixed to the drones were continuously streaming video of the agents via YouTube. Organized criminals have used drones to watch law enforcement and identify potential cooperating witnesses who visit police departments.
In Australia, drones are even used to aid illegal smuggling operations. The criminals stuff their shipment of drugs or other prohibited goods inside a shipping container. When a drone shows that port authority workers are getting too close to the container, the criminals call in a false alarm to divert security forces.
In Utah, a couple got the fright of their lives in early 2017 when they noticed a drone hovering outside their bathroom window. John Henson was getting ready for work. When he got out of the shower, he noticed the whirring sounds of the drone outside the bathroom window.
When he opened the window to investigate, the drone flew off. He chased it until the drone landed in a church parking lot. Henson grabbed the device and called the police.
Officers found that the red lights on the drone had been taped shut so that it could fly unseen in the dark. They examined the footage on the camera, which was extremely disturbing. By peeping through windows, the drone had recorded the view inside several different houses, including one high-rise apartment’s bedroom.
Police were able to track down the owners of the drone because one of them had filmed himself in front of his truck with his license plates in clear view. Posting a message on Facebook for the criminals, the officers said that they had found the drone and knew who the perpetrators were.
The police added that the suspects could turn themselves in or the officers would come knocking on their door with a warrant for their arrests. Aaron Foote and Terisha Norviel turned themselves in shortly after, and each was charged with voyeurism.
1Photo Of Sunbather Ends Up On Billboard
In 2014, 50-year-old Mandy Lingard from Australia was utterly mortified to find her photo plastered onto a billboard without her consent. Normally, a situation like this would only result in a small lawsuit. However, she was photographed while sunbathing in nothing but a G-string, which caused embarrassment for her whole family.
The photo was taken by a real estate agent’s drone. The agent uploaded the picture to the Internet, printed it in a real estate magazine, and slapped it onto a massive billboard. The billboard image was quickly taken down, but Lingard still felt violated.
Australia’s laws about filming people on their property are currently not as strict as they should be. Another woman from Darwin was filmed skinny-dipping in her pool in 2017.