Silver Talent Management: How Retirees Can Redefine the Future of Work.

Abstract

As the global population ages, countries worldwide face various demographic, economic, and social challenges. According to the WHO (2024), by 2030, one in every six people globally will be 60 or older, with the population aged 60 and above rising from 1 billion in 2020 to 1.4 billion. By 2050, this number is expected to double. Population ageing is an irreversible global trend and Sri Lanka is also experiencing one of the fastest-growing ageing populations among developing nations. The proportion of people over 60 in Sri Lanka increased from 5.3% in 1953 to 10.8% in 2003 and is projected to reach one-quarter of the population by 2030 (Kaluthantiri, 2015; Siddhisena, 2005). Ageing refers to the process of becoming older, marked by gradual biological, psychological, and social changes over time (Närvänen, 2018). While this is a natural part of life, its societal and economic implications have advanced. In the past, ageing often predestined limited life expectancy, but advances in healthcare have extended lifespans considerably. However, this brings challenges such as increased demand for healthcare, financial support, and social services for the elderly population.