Seguros y pensiones para todos

Senior Talent in Europe

Senior Talent in Europe

Home > Blog > Senior Talent in Europe

19.Dec.2022

Fundación MAPFRE's Ageingnomics Research Center is working to ensure that Spain spearheads a global strategy on the opportunities offered by demographic change and to disseminate a positive view of this.

One of this Center’s priorities is to monitor the integration of senior talent into productive activity. That is why in 2021 the Center launched the first edition of the Senior Talent Map: a rigorous study of this issue which, in addition to offering concrete figures, underlined one premise above all others: the importance of incorporating senior talent into training initiatives adapted to their life circumstances, the demands of each sector, company or type of activity.

Second edition

While the first edition of the Talent Map focused on analyzing the situation in the Spanish labor market, the 2022 edition of the Map has expanded its academic scope and compares the situation of senior talent in Spain with seven European countries selected for their cultural and geographical proximity, their economic weight or the contrast they represent with markets that are closer to us and that are in the same demographic situation as Spain.

The conclusion drawn by the study is that this country lags a long way behind its neighbors in many indicators. For example, the employability rate of older Spanish adults is ten points below the European average (60%). In addition, at the national level, half of the newly unemployed are seniors, one out of every three unemployed people in Spain is over 50 years of age and one out of every two of the older unemployed is in that situation long-term.

Main recommendations

For all these reasons, the researchers behind the study have made a series of recommendations:

  1. A country-wide pact should be established to promote senior employment and nip the waste of talent among older Spaniards in the bud.
  2. A legislative package should be approved for senior employment.
  3. Companies should measure and publicize their social impact not only in terms of the environment and gender, but also in terms of generational diversity.
  4. The extension of activity requires regulatory changes, but also a cultural shift: working for longer will become an unavoidable necessity that is positive for the physical, mental and economic health of individuals and, therefore, for society as a whole.
  5. According to the INE, as of the third quarter of 2022, there were more than 20.5 million people in work in Spain. Of these, 9.5 million were women. As in other age groups, in the senior labor market the challenge is also to incorporate more women, in addition to extending the formula of part-time work as a way to stay in the workforce.
  6. The Public Authorities must encourage self-employment and entrepreneurship among older adults.
  7. Lifelong training for senior Spanish workers is an unresolved issue that the authorities, as well as companies, must overcome.
  8. Raising the public profile of senior Spaniards who continue to contribute to society through their work in fields such as science, civil service, teaching and entrepreneurship.

You may also like…

Cognitive biases that condition what you buy and how you invest

Cognitive biases that condition what you buy and how you invest

What are cognitive biases? Cognitive biases are mental shortcuts in our brain when we receive and process information so that we can make a decision and act accordingly. They are like automatic brain responses based on years of evolution designed to help us act...

How to make the most of your cash

How to make the most of your cash

And the fact is that, with high inflation rates, your emergency fund savings lose their value month by month. In other words, this money is worth less over time as the cost of living rises. Is there anything that can be done? To begin with, do not lose sight of the...

What should you do with your savings in a recession?

What should you do with your savings in a recession?

However, the actual fall in the Eurozone was 0.1% in both the last quarter of 2022 and the first quarter of 2023, closer to zero growth than to a sharp economic contraction. In Spain, the GDP has not fallen since the first quarter of 2022, but the fact that the German...

The power of automating your finances and certain habits

The power of automating your finances and certain habits

It's like a vicious circle that prevents you from moving forward. The reason for this is very simple: they are processes that depend on your willpower. Even when you build the right habits, it's easy to have slip-ups that undermine your confidence and make you feel...

Should you sell your investments to pay off your debts?

Should you sell your investments to pay off your debts?

The truth is that there is no one-size-fits-all answer. The most appropriate solution will depend on both the type of debt and your investment profile, which will determine to a certain extent the returns you can achieve with your investments. Safe profit vs....

Why is everyone talking about Treasury Bills?

Why is everyone talking about Treasury Bills?

The reason for this Treasury Bill frenzy involves a combination of factors. On the one hand is the rise in interest rates by the European Central Bank (ECB) to combat inflation, which caused the yield on public debt to rise to levels that became attractive to savers....