Companies should plumb retired leaders' experience
They can do this by creating pathways within their organisation that enables their ageing leaders to share their experience with the next echelon of leaders.
SINGAPORE will grow older faster than nearly every other society in the world, Prime Minister Lee Hsien Loong warned during his speech at the Singapore Management University's Ho Rih Hwa Leadership in Asia lecture last year.
The Singapore Department of Statistics disclosed that there were 430,000 Singapore residents (citizens and permanent residents) aged 65 years old and above in 2014; by 2030, this figure will double to some 900,000.
With an ageing population, the Singapore government has already raised the retirement age repeatedly over the years to ensure sustainable economic development; its long-term objective is to eventually raise the retirement age to 67 in 2017, as announced by Prime Minister Lee in his 2015 National Day Rally speech.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Columns
‘Competition for talent’ a poor excuse to keep key executives’ pay under wraps
OCBC should put its properties into a Reit and distribute the trust’s units to shareholders
Why a stronger US dollar is dangerous
An overstimulated US economy is asking for trouble
Too many property agents? Cap commissions on home sales
Time to study broadening of private market access