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Managing a Multi-Generational Workforce
As Singaporeans’ life-expectancy increases, so too must our retirement age. With the introduction of the Retirement and Re-employment Act (RRA), effective 1 July 2022, the retirement and re-employment ages will be raised to 63 and 68 respectively.
Singapore employers must offer re-employment to eligible employees who turn 63, up to age 68, to continue their employment in the organization.
Since the re-employment age was raised from 65 to 67 on 1 July 2017 — to help older workers who wish to continue working as long as they are willing and able — it is has become increasingly common to see organizations with multigenerational employees where managers find themselves managing employees who are in their teens and those who are close to retirement. It is also common to see managers who are in their late 20s managing staff who are in their 60s.
While there are many benefits to having more experienced employees in your team, there are also challenges. Ensuring that these varied groups of employees work well together is critical for companies.
