Distribution of employees by paid headcount who are 50 years or older at a point in DESCRIPTION time. REPORT INCLUSIONS / EXCLUSIONS Disaggregating the data by age (50+ old) provides a detailed view of the 50+ age REASONS distribution across the agency. Agencies can use this measure to understand their FOR potential exposure to employees nearing retirement age. Australia faces a future skill COLLECTION shortage created by the impending retirement of the baby boomer population. This retirement wave over the next 15 years is likely to bring with it significant retirement costs, such as accrued long service leave credits. It is also likely to cause a drain of important knowledge, skill and experience held by older workers. Agencies will want to develop an understanding of their knowledge drain exposure to plan in advance for the back-filling of impending retirements. It is also possible that this cohort will be wanting to downshift either in terms of responsibility of position, or time at work through a phased retirement plan or access to flexible work options. This measure could also be considered in conjunction with an analysis of the agencies leadership capability and succession pool. As managers and executives tend to be older employees, the leadership strength of an agency may be susceptible. Agencies may wish to further disaggregate the data to assess the proportion of employees within one, three and five years of normal retirement age. Additionally, agencies may identify pockets within the agency that are most susceptible to the negative impact of a large wave of retirements. SOURCING Age profile data (50+) is based on employee date of birth and can be sourced from THE DATA PIPS. THEME: GENDER GENDER DISTRIBUTION DESCRIPTION Distribution of paid employees by gender at a in time. REPORT INCLUSIONS / EXCLUSIONS This measure enables agencies to monitor the composition of its workforce, to REASONS promote diversity and to help address gender bias in the workplace. This measure is FOR also used to gauge the effectiveness of equity strategies and to guide actions around COLLECTION attraction, retention and development of employees. this measure may help to identify gender imbalances in the workforce it will not by itself explain why such balances exist. Agencies may wish to analyse the data in relation to recruitment and turnover trends among males and females to understand
DESCRIPTION Distribution of employees by paid headcount who are 50 years or older at a point in time. REPORT INCLUSIONS / EXCLUSIONS REASONS FOR COLLECTION Disaggregating the data by age (50+ old) provides a detailed view of the 50+ age distribution across the agency. Agencies can use this measure to understand their potential exposure to employees nearing retirement age. Australia faces a future skill shortage created by the impending retirement of the baby boomer population. This retirement wave over the next 15 years is likely to bring with it significant retirement costs, such as accrued long service leave credits. It is also likely to cause a drain of important knowledge, skill and experience held by older workers. Agencies will want to develop an understanding of their knowledge drain exposure to plan in advance for the back-filling of impending retirements. It is also possible that this cohort will be wanting to downshift either in terms of responsibility of position, or time at work through a phased retirement plan or access to flexible work options. This measure could also be considered in conjunction with an analysis of the agencies leadership capability and succession pool. As managers and executives tend to be older employees, the leadership strength of an agency may be susceptible. Agencies may wish to further disaggregate the data to assess the proportion of employees within one, three and five years of normal retirement age. Additionally, agencies may identify pockets within the agency that are most susceptible to the negative impact of a large wave of retirements. SOURCING THE DATA Age profile data (50+) is based on employee date of birth and can be sourced from PIPS. THEME: GENDER GENDER DISTRIBUTION DESCRIPTION Distribution of paid employees by gender at a in time. REPORT INCLUSIONS / EXCLUSIONS REASONS FOR COLLECTION This measure enables agencies to monitor the composition of its workforce, to promote diversity and to help address gender bias in the workplace. This measure is also used to gauge the effectiveness of equity strategies and to guide actions around attraction, retention and development of employees. this measure may help to identify gender imbalances in the workforce it will not by itself explain why such balances exist. Agencies may wish to analyse the data in relation to recruitment and turnover trends among males and females to understand
Workforce_Metrics_Dictionary_for_the_NT_Public_Sector.docx