Explore — Consulting Corpus

BCG · 2021 · framework_other

Capture new, low-carbon business opportunities

~30% — shareholder returns

BCG · 2021 · key_takeaways

Align investment agendas with climate-conscious investors

$95T — Investment need

BCG · 2021 · framework_other

Enable your organization with low-carbon governance

BCG · 2021 · recommendation

Do no harm and advocate for policy support

BCG · 2021 · recommendation

There will be a sustainability scarcity: opportunity for first-mover advantage

BCG · 2021 · client_example

Countries are expected to increase environmental commitments at COP26

PwC · cover

PwC Golden Age Index The potential $2 trillion prize from longer working lives

$2 trillion — Economic value

PwC · executive_summary

The potential $2 trillion prize from longer working lives

$2 trillion — GDP gain

PwC · context

Ageing populations and pressures on health and social care are putting the issue of longer working lives at the forefront of public policy

$2 trillion — GDP boost

PwC · impact_sizing

Increasing the employment rates of older workers in the OECD to Swedish levels could boost GDP by around $2 trillion in the long term

$2 trillion — GDP boost

PwC · market_landscape

The UK has gradually increased older worker employment over the past decade and further improvements could boost GDP by around £80bn in the long-run

£80bn — GDP boost

PwC · key_takeaways

A flexible labour market that encourages and supports older workers is a key feature of top performers on our Golden Age Index

+10 — Index ranking improvement

PwC · context

Our Golden Age Index takes a holistic view of the labour market for older workers across the OECD, combining indicators into one comparable metric

PwC · geographic_map

Our Golden Age Index explores the large variation in the economic prospects of older workers across 34 OECD countries over time

PwC · data_table

Iceland, New Zealand, Israel and Sweden take the top four places

98.8 — Golden Age Index score

PwC · industry_trends

All G7 countries have seen a gradual increase in their absolute index scores since 2003, with Germany seeing the biggest improvement within the G7

PwC · benchmark_peers

Israel, Germany and Australia have seen the biggest rise in the rankings between 2003 and 2015, while Mexico, Turkey and Greece have each fallen 12 places. Overall, the UK has seen relatively little change

PwC · case_study

Enhancing incentives to remain in work longer and raising retirement ages have been key features of the biggest risers in our index

PwC · section_divider

Potential long-run boost to GDP from longer working lives

PwC · benchmark_peers

We estimate how much countries could gain from boosting the employment rates of older workers to levels in Sweden, one of the top performers

66.4% — Employment rate

PwC · impact_sizing

Potential long-run boost to OECD GDP from increasing the employment of those aged over 55 could be around $2 trillion

$2 trillion — GDP gain

PwC · impact_sizing

Countries scoring lower on our Golden Age Index have the most to gain from boosting employment rates for those aged over 55 to Swedish levels

15.5 — Change in GDP (%)

PwC · case_study

Improving employability and reducing barriers for older workers are key features of the top performers on the index

73% — labor force participation rate

PwC · framework_other

A strong labour market for older workers should be underpinned by flexible working opportunities that accommodate caring responsibilities and changing working preferences

PwC · case_study

Flexible working opportunities – not just for older workers – are key features of some of our top performers

PwC · industry_trends

Looking forward, automation is one of the biggest challenges facing older workers - governments and businesses should start taking action now

56% — Percentage of jobs at risk of automation

PwC · recommendation

Looking forward, policymakers and employers should focus on ensuring older workers have the relevant skills and incentives to remain in the workfore for longer, underpinned by a flexible labour market that supports their preferences

PwC · key_takeaways

Overall, the UK’s relative performance on the Golden Age Index remains slightly below the OECD average, despite improvements in absolute terms

PwC · industry_trends

Employment of older workers in the UK has increased over time, but there is further room for improvement

63.4% — Employment rate

PwC · geographic_map

Regional variations in employment of older workers across the UK are related to variations in average educational attainment and gender disparities

74.5% — Employment rate of 50-64 year olds

PwC · diagnosis

Work-life patterns and occupational segregation are two of the key drivers of disparities in older worker employment rates between men and women

64.9% — Employment rate

PwC · analyze_data

Regions with higher educational attainment rates tend to have higher employment rates for older workers

PwC · industry_trends

Boosting training and lifelong learning is crucial to enabling older workers to continue to have relevant and effective skills for today’s workplace

45% — Percentage of UK employees receiving training

PwC · problem_statement

The government has made progress in removing obstacles to employment for older workers, but challenges around training and recruitment remain

PwC · client_example

UK businesses are increasingly adopting policies in line with the government’s strategy to Retain, Retrain and Recruit

PwC · key_messages

Despite improvements in the labour market for older workers, employers must address challenges around training, recruitment and female labour force participation

PwC · other

Our Golden Age Index is constructed using 7 key labour market measures

PwC · other

There is a correlation between life expectancy and the Golden Age Index, suggesting that countries with a higher life expectancy also have economies where older workers play a larger role

PwC · analyze_data

There is a positive correlation between our Golden Age Index score and GDP per capita, but some countries outperform on our index relative to their income levels (e.g. Estonia, Chile, Mexico)

PwC · analyze_data

The clear positive correlation between our Young Workers Index and the Golden Age Index suggests that the employment of older workers does not crowd out younger workers at the economy-wide level

PwC · other

The positive correlation between our Women in Work Index and the Golden Age Index suggests that flexible working policies and better childcare also help women to remain in work for longer