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Mortgages

Aussies Pessimistic About Employment Future

 January 16, 2020

By  Chase Edwards

Older Australians should be excitedly anticipating their golden years, but many are feeling pessimistic about their futures, according to Rio Tinto. The mining firm’s “Future of Work” paper found just 10 percent of Australians aged 55 to 74 were “very optimistic” about their working future, perhaps because 82 percent of us feel we’ll need to work past the official retirement age of 65.

It’s not just older Australians feeling a sense of impending doom and gloom though. While pessimism levels are growing with every generation, more than one in three Aussies, on average, said they were either pessimistic or sceptical about their working futures. Worries about job security are in the front of many minds, with most Australians aged between 45 and 74 predicting a fall in permanent employment and less employment security ahead.

More than three in five respondents believed employers would value their workers less in future. This prediction is likely a result of fears over rising levels of automation and other workplace technology. “For most of us in the room, these changes are exciting. For others in our community, they are worrying,” admitted Chris Salisbury, the iron ore boss of Rio Tinto. “What this study reveals is the very understandable fear amongst the workforce about their jobs and the jobs of their children and grandchildren.”

Dominic Price, a work futurist at tech firm Atlassian, said that he hoped the future wasn’t as bleak as survey respondents feared. He said he hoped to see workplaces recognising and rewarding employees for their efforts and value, rather than simply their hours in the office. At Chase Edwards, we hope all Australians can feel more positive about their futures. We think Aussies should work for as long as they want to, then enjoy the rewards in their retirement. It might sound idealistic, but we know we can help the retirement dreams of Aussies everywhere come true.

Call us on 1300 854 833 to find out how we can help you spend less time worrying and more time focusing on what’s to come in your life.

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