Investments and Returns for senior citizens

I participated in a program recently and a gentleman of my grandfather’s age delivered some stunning lines in his speech. What is the implication of two colors- crimson red and blue, in the national flag of Nepal? How many triangles are supposed to be there in the sun depicted in the national flag? I really wonder how many Nepali people actually know about the fact. Leaving others aside, different school books have different number of triangles in the sun of the national flag. The correct number of triangles is 12. One can learn this instantly but still very few of us know that and the deliverance of implication of colors requires a sheer experience. Age brings us the experience.

Is ageing an economic issue? These days, ageing population has been taken as socio-economic problems by many countries but on the contrary, investment on ageing population is actually worth it. How?

A very notable thing is that there are many people who believe that ageing is a challenge in their organization but very few do anything about it. If it is only about reaping the benefits out of such population and not returning them back the similar favor, the worth definitely goes down. The first thing that needs to be understood is that since the natalities and mortalities have been controlled to a larger extent, people have been able to survive longer from where ageing arises. This adds up larger social benefits compared to the social cost which is a big achievement.

 

In coming years, when the efficiencies will be prioritized in the organizations, the experience and that critical organizational knowledge and belongingness to the organization will seem fading which will optionally bring down the overall production in the long run. The knowledge management approaches are something which can be elaborated by the experience and not the knowledge only. The intergenerational working and learning in an organization catalyzes the operational activities. Many times in work, knowing a thing is very insufficient to make it actually happen and this, many times, is a problem of youngsters.

The ageing paradox is rampant in current societies. Usually, employers seem aware of the realities and the challenges that would arise based on the ageing but very few will think about facing those challenges. The easing of leisure-work trade-off, stress-reduction at workplaces, tasks and capabilities adjustments are features which can escalate production from the ageing population. Cultural vitalities are important asset that can be provided by such population only. Successor planning is an important lag in the society. Mutual intergenerational efforts are required to set a mechanism for success where the efficiency of younger generation and experience of old generation capitalize.

Ageing, identified as an opportunity, leads to sound social and organizational equilibrium and if identified as a challenge, will pose intergenerational-conflict and un-satisfaction costs to the society and country.

Note: This article is published in the Perspectives of The Himalayan Times, 20th April, 2014