Time to start worrying? The implications of an ageing workforce in The Netherlands

A report from The Economist Intelligence Unit.

The implications of an ageing workforce in The Netherlands

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TIME TO STARTWORRYING?

1© The Economist Intelligence Unit Limited 2014

Time to start worrying? The implications of an ageing workforce in The Netherlands

Contents

Executive summary 2

Brace for impact 3

Case study 5

More cash, please 6

Pensions? That’s your problem 8

Case study 9

Conclusion 10

Appendix 11

2 © The Economist Intelligence Unit Limited 2014


Executive summary

A tide of demographic change is about to break over the Netherlands and its executives need to prepare

Historically low birth rates and increasing life expectancy mean that Europe’s working population is ageing fast. In 2012, the continent reached an inevitable demographic tipping point. The percentage of the population at working age fell for the fi rst time in 40 years. It is now forecast to fall every year until 2060. This inescapable trend will have profound implications for governments, citizens and companies across Europe.

The demographic makeup of the Netherlands means the country has less time to adjust than the continent’s other large economies, according to European Commission forecasts. Under the Commission’s bleakest forecast, population ageing could create labour supply bottlenecks for the Dutch economy as soon as next year.

To explore some of the issues that senior executives will have to address as they seek to adapt their organisations to this new world, The Economist Intelligence Unit, on behalf of Towers Watson, surveyed 480 senior executives at companies across Europe, with 42 in the Netherlands. Some 83% of those in the Netherlands expect the number of their employees aged 60+ to increase by 2020, including 33% who expect it to increase signifi cantly – those are among the highest results in Europe.

Key fi ndings include:

Workforce ageing and skills shortages move up the agenda. As demographic change is likely to hurt the Netherlands sooner than most other countries, almost one in six see ageing as a priority human resource issue for their business today, and one in three expect it to be an issue by 2020. Similarly, Dutch executives are among the most concerned (21%) in Europe about the threat of skills shortages.

Cash is king. As the brightening of Europe’s economic outlook pushes talent management up the agenda across the continent, executives in most countries plan to offer staff a wider mix of non-fi nancial benefi ts. The Dutch are different – they are more than twice as likely (43% compared to 20% overall) to give workers cash. Perhaps this is why a signifi cant minority (21%) think the cost of benefi ts as a percentage of salary will actually decrease in the years to 2020.

Responsibility lies with the individual, not the employer. Dutch executives are the least likely (24% compared to 42% overall) to agree that it is better for employees to get certain benefi ts, such as healthcare, through work than to buy them themselves. They also are much more likely to believe that the individual should be the one primarily responsible for providing and/or funding healthcare provision (36% compared to 19% overall).

When it comes to saving for retirement, Dutch employees are Europe’s big worriers. Some 41% of executives say this is their staff’s greatest concern. No other country ranks it anywhere near that high – just 20% of European executives overall rank this as a top-three concern



The economic and business implications of Europe’s ageing workforce are huge, and the Netherlands has less time to adjust than any of the EU’s other large economies.

In the decade to 2012, the ratio of people aged under 15 and over 65 to the population at working age increased from 45.4% to 50.5% – one of the biggest increases in Europe. Under the European Commission’s most pessimistic scenario, the Netherlands could experience labour bottlenecks as soon as 2015 – much earlier than the UK, for example, which is unlikely to feel the pain until the early 2020s.

If the country can achieve what the Commission calls “an exceptionally favourable economic outlook allowing for an extremely high mobilisation of human resources”, it could stave off those shortages for eight years or so. A recent report from ABN Amro offered an even more optimistic outlook, pointing to overall population growth and the increased proportion of those aged 65 to 68 remaining in work.

If holding onto older workers is the way that the Netherlands will maintain its workforce, it should be no surprise that the survey found Dutch executives to be among the most concerned in Europe about the challenge of managing an ageing workforce. Almost one in six see ageing as a priority human resource issue for their business today. By 2020, one in three expect this to be the case.

The main effects of workforce ageing, they believe, will be an increase in the cost of employee benefi ts (43%), greater demand for benefi ts (31%) and a need for more fl exible

working, so that employees can care for older dependents (29%). Almost a quarter (24%) say workforce ageing will make it harder to promote younger workers who are ready to move on. A fi fth (19%) expect an increase in age discrimination claims.

Yet on each of these points, Dutch executives are less likely than their European rivals to think their business will be affected. And for two potential trends – including demand for benefi ts – they are the least concerned in Europe.

This lack of relative alarm is refl ected in their wider business priorities. As the economic

Brace for impact1Which of the following do you think is most likely to happen as aresult of an ageing workforce?(% of respondents)

Chart 1

NetherlandsEurope

Source: The Economist Intelligence Unit.In

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outlook improves across Europe, executives in many countries expect talent management to become a far more signifi cant issue in the years ahead. But very few Dutch executives see much change here. Only 21% say talent management is a top-two business priority today; that climbs to just 26% in 2020. The increase is the joint smallest in Europe, along with France. By contrast, the proportion among Germans citing talent management as a top two priority leaps by 237% over the same period.

Does this suggest Dutch executives are complacent about the potential impact of demographic change? The European Commission data suggest that a lack of ready labour could be imminent for the Netherlands, and the survey shows Dutch executives are among Europe’s most concerned about skills shortages (21%). Yet by 2020, when the Commission believes the Dutch are very likely to be feeling the pinch, that level of concern does not rise at all. Perhaps the survey respondents believe the more optimistic ABN Amro report, which states a shrinking workforce will not happen until 2027, or even 2032.

In a similar vein, Dutch executives are among the least likely in Europe to be planning any changes

that would prepare their organisations for an older workforce. From allowing employees to select from a wider range of benefi ts to offering more fl exible work hours, they score below the European average across a range of measures. In some cases they are only marginally behind, but the pattern seems clear enough.

Many companies in the Netherlands are doing less in response to workforce ageing than their peers across Europe, but there are some examples of good practice. Faced with making a signifi cant number of staff redundant, Achmea, the country’s largest insurance provider, launched a program called Silver Pool.

The company offers temporary, fl exible contracts to staff over 57.5 years who have knowledge and experience it might otherwise lose. When employed under these contracts, staff receive 100% of their salary while working and they still receive 75% of their pay even when there is no work. And whenever Achmea has a temporary, third-party or contractor position to fi ll, Silver Pool members have priority. The company thus retains the knowledge and expertise of older staff, and cuts its costs.

What is the most important business priority for your organisation currently? In 2020?(% of respondents)

Chart 2

Europe in 2020 Netherlands in 2020 Germany in 2020Germany nowNetherlands nowEurope now

27

34

26

85

9

63

50

57

23 24

39

32

3836

4245

38

29 29

34

49

55

43

2421

14

48

42

26

11

21

141112

14

Source: The Economist Intelligence Unit.

Risk control andmanagement

Talent management(HR)

InnovationExpansionCost controlRestructuring



Talent management might not be climbing up the agenda for many Dutch businesses, but it defi nitely is at PostNL, the Dutch mail and parcels business, says HR director Roger Muys.

The decline in traditional letter mail and an increase in parcels business means that the company wants to create a more fl exible workforce; the ageing trend is causing it to pay more attention to the physical and mental fi tness of all employees and how it engages its most talented people, says Mr Muys.

“Every organisation faces more or less the same HR challenges,” he believes. “In practice, fl exible labour means less emphasis on full-time contracts – 37 hours or more – and more space for part-timers, including students, pensioners and returners, who would like some extra money.”

The days of lifetime employment with one company are over, he says. Ambitious, talented people are not willing to stick in one place all their career. “The fi nancial crisis has dampened that trend a little, but once the global economy recovers, and with it the labour market, employers will need to think again about how they try to hold on to their high-potential people,” he believes.

Mr Muys says it is no longer wise to limit career development programs such as coaching and personal development to “top potentials”; talent management investment should extend to all employees. “It’s not only because people are the most important asset for any organisation, but also because it means we can fi ll sudden gaps in the workforce quickly and properly,” he says.

Case study: PostNL



A brightening economic outlook across Europe is likely to affect the concerns of employees, too. The survey shows that in most countries, employers think employees will begin to worry less about whether or not they have a job and more about how and how much they work. But the story is somewhat different in the Netherlands.

Today, the country has – almost – the lowest percentage of companies focused on cost control in Europe. No wonder, then, that Dutch employees are much less concerned about fi nancial or job security than workers across Europe – although this is still their main concern.

More cash, please2The big areas where Dutch executives think their staff concerns will grow are the impact and pace of technological change (which they expect to increase fi ve-fold) and the desire for employment fl exibility, in the form of job sharing, portfolio careers, part-time working and phased retirement (this will double). That growing demand for different ways of working is a common theme across Europe, but nowhere is it as pronounced as in the Netherlands.

How companies plan to deliver that fl exibility varies by country. For Europe as a whole, the most common response is to offer more adaptable working hours and the chance to work

What do you believe to be the issues your employees see as most important today?(% of respondents)

Chart 3

Netherlands in 2020Europe in 2020Netherlands nowEurope now

4138

3229

64

57

2931

20

41

31

2623

19 19

14 1517 17

14

4238

45

36

14

5

25

33

20

10

3329

24

19

2521

30

85

Source: The Economist Intelligence Unit.

Caring fordependents

(children andelderly)

Skilldevelopment

Employmentflexibility

(job sharing,portfolio careers,

part-time working,phased retirement)

Newtechnology

/pace ofchange

Work-lifebalance

Healthcareprovision

Stress andwellbeing

Saving forretirement

Jobsecurity

Financialsecurity



The Dutch also look to the individual when it comes to healthcare. Over two-thirds 68% of Dutch survey respondents believe the state will play a reduced role in providing healthcare – the highest in Europe. This likely refl ects reforms introduced to the Dutch healthcare system over the last decade; all citizens are now legally required to purchase at least a basic level of insurance.

from home; just over half (52%) of the Dutch executives in the survey are considering this. Whereas companies in other countries – notably the UK – also expect to make big changes to their wider benefi t programs, Dutch executives see this as less of an issue.

The survey data suggest an explanation for this. A third of Dutch executives – slightly more than the European average – believe the benefi ts they offer today will still be fi t for purpose by 2020. On the same theme, almost two thirds of them (62%) say they already offer a fully comprehensive benefi ts package to attract and retain employees – which ranks them second only to Switzerland.

Companies in the UK, for example, are looking to change the employee benefi ts they offer and to give employees more choice. But in the Netherlands, 43% say in future they are more likely to give employees a cash allowance so they can choose what benefi ts they like – that is double the European average. Dutch executives were also the least likely (24%) to agree with the statement: “It is often better for employees to get certain benefi ts through work than buy them themselves.” Perhaps this is why a signifi cant minority of Dutch companies (21%) think the cost of benefi ts as a percentage of salary will actually decrease in the years to 2020.

Which of the following statements describes your company’sattitude to benefits offered to employees: In the future, we aremore likely to give employees a cash allowance and let themchoose what benefits they like(% of respondents)

Chart 4

Note: Chart compares the percentage of respondents from each country who selected “In future…” in answer tothe question.Source: The Economist Intelligence Unit.

43

31

23

19

43 43

35 35

24

29

Spain SwitzerlandNetherlands Italy FranceGermany UKEurope

20

26

14

913

19

11

43



With demographic change hitting the Netherlands sooner that anywhere else, it is no wonder that Dutch employees are worried about their ability to save for retirement. Today, according to their bosses, this is their second biggest concern (41%). No other country in Europe ranks it anything like as highly; the next nearest country is France on 24%.

Yet, perhaps remarkably, executives expect this concern to evaporate in the years to 2020. Everywhere else in Europe, executives think retirement saving will become far more important to employees. The proportion of those in the UK who say it will be a top-three issue for employees leaps by 150%. The increase is just about as high in Spain. But the Netherlands is the only country

Pensions? That’s your problem3where executives think employees will actually become less concerned about their fi nances in old age. In fact, the proportion rating it as a top-three issue falls by a third.

This may be because the Netherlands has a high savings rate and reforms to the pensions system currently underway are expected to strengthen it. However, the changes being made will not necessarily benefi t employees, transferring more responsibility for risk from the employer to the individual.

One explanation for this could be that Dutch employers plan to give their workers more cash rather than non-fi nancial benefi ts (see above), which they can then invest in their own pensions if that is what worries them most. Today, 22% of Dutch executives say the main reason they provide retirement benefi ts is so that employees can have an adequate income when they stop working; by 2020 that climbs to 35%, the highest level in Europe.

What is more, Dutch citizens are particularly keen to keep working past their normal retirement date, according to European Commission research. Some 84% of them would like to take a partial pension while working part time, compared to two thirds of all Europeans. If employees think that is something their employer will offer in future, then it makes sense that their anxiety about retirement planning might abate.

The signs here are positive. Like their peers in other countries, many Dutch executives (33%) are concerned about the cost of making changes to their pension provision, but the level of

What do you believe to be the issues your employees see as mostimportant today: Saving for retirement(% of respondents)

Chart 5

Note: Chart compares the percentage of respondents from each country who selected “saving for retirement” inanswer to the question.Source: The Economist Intelligence Unit.

23

19

24

29

Spai

n 20

20

Swit

zerl

and

2020

Neth

erla

nds

2020

Ital

y 20

20

Fran

ce 2

020

Germ

any

2020

UK

2020

Euro

pe 2

020

Spai

n no

w

Swit

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now

Neth

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now

Ital

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Fran

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Germ

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UK

now

Euro

pe n

ow

20

14

23 2420

41

2218

3135

38

27

33

2624

44



concern they report is lower than in any other country, except Italy (29%). Moreover, Dutch executives are the most likely in Europe (45%) to believe that individual employees should provide or fund their own pensions benefi t. In France, by contrast, only 19% of executives had that view.

This view is refl ected in the reforms currently working their way through the Dutch pensions system, which continue to shift responsibility and risk from the employer (as in traditional defi ned benefi t schemes) by, for example, limiting employer contributions to underfunded schemes. At the same time, the Dutch system already has seen a defi nite move by companies

At KLM Royal Dutch Airlines workforce ageing is a reality today. The age profi le of its 32,000 employees has changed signifi cantly over the last fi ve years. The proportion aged 50 or older has increased from 18% to 29% while those aged 30 or less has fallen from 10% to 6%.

This is likely due to economics as much as demographics: since the 2008 fi nancial crisis, the company has tried to avoid hiring new people into the business. But the challenges it creates are the same.

The main one is what Maarten Stienen, Vice President Industrial Relations and Strategic Human Resources, calls

“sustainable employability” – taking care of the workforce in a rounded way, so they remain employable for as long as possible.

This requires fl exibility from the staff and investment from the business. “To keep our workforce healthy and employable we put a lot of emphasis on health policies,” says Mr Stienen. “Our vision for the next three years centres around promoting and furthering a healthy lifestyle and work-life balance.”

But he does not expect the greater focus on health to increase the cost of benefi ts in this area. “This is not really a concern,” he says.

Case study: KLM

to utilising a halfway house between DB and fully individualised DC schemes – collective defi ned contribution (CDC) – which also reduces an employer’s pension risk, while not fully transferring it to individual employees. This type of pooled risk pension scheme is being considered in other countries such as the UK.

The picture that emerges is this: a large number of Dutch executives believe that companies have a responsibility to help their employees to plan for old age, but they feel the best way of doing that is to give them the cash and access they need to make their own arrangements.



Dutch executives are right to be worried about workforce ageing. A tide of unavoidable demographic change is on its way, and will break over the Netherlands sooner than any other European country surveyed. Some big employers – such as KLM and PostNL – are looking at ways to extend the employability of their current workforce and rethink their approach to talent management. But the survey suggests they may be the exceptions rather than the rule.

The fi nancial crisis of recent years has sucked

Conclusion

much of the urgency out of this issue. With employees worrying about whether they can simply keep their jobs – or in the Dutch case, save for retirement – employers do not have to think too hard about talent management. But as the recovery gains traction, this will change.

In the Netherlands, that change could happen especially quickly. Here the complacency of many Dutch executives – especially with regards to the supply of skilled workers – is worrying indeed.



Appendix: Survey results

Cost control

Expansion

Innovation

Restructuring

Talent management (HR)

Risk control and management

50

38

29

26

21

12

(% respondents)What would you say is the most important business priority for your organisation currently? Select up to two

Innovation

Expansion

Talent management (HR)

Cost control

Risk control and management

Restructuring

55

45

26

24

21

5

(% respondents)What would you say will be the most important business priority for your organisation by 2020? Select up to two



Global competition

Technology

Talent/people management

Ageing

Changing size and role of the state

Offshoring/outsourcing

Other (please specify)

55

55

38

14

10

2

7

(% respondents)By 2020, what will be the main drivers of change for your business? Select up to two

Cost control (compensation and benefits)

Talent management and progression

Motivation and engagement

Recruitment

Retention

Skills shortages

Ageing workforce

Downsizing / offshoring

Healthy workforce (health, stress and wellbeing)

Regulation (state/EU)

Diversity of workforce


41

33

31

29

21

21

17

12

10

7

5

2

(% respondents)What are the main people (HR) issues you face as an employer currently? Select up to three



Talent management and progression

Ageing workforce

Cost control (compensation and benefits)

Retention

Recruitment

Motivation and engagement

Skills shortages

Healthy workforce (health, stress and wellbeing)

Downsizing / offshoring

Regulation (state/EU)

Diversity of workforce


33

33

31

26

24

24

21

19

10

7

7

0

(% respondents)What will be the main people (HR) issues you face as an employer by 2020? Select up to three

Job security

Saving for retirement

Financial security

Work-life balance

Stress and wellbeing

Skill development

Healthcare provision

Employment flexibility (job sharing, portfolio careers, part-time working, phased retirement)

New technology/pace of change

Caring for dependents (children and elderly)


57

41

38

38

19

19

17

10

5

0

2

(% respondents)What do you believe to be the issues your employees see as most important today? Select up to three



Work-life balance

New technology/pace of change

Job security

Financial security

Employment flexibility (job sharing, portfolio careers, part-time working, phased retirement)

Saving for retirement

Skill development

Stress and wellbeing


Caring for dependents (children and elderly)


36

33

31

29

29

26

21

14

14

5

2

(% respondents)What do you believe to be the issues your employees see as most important by 2020? Select up to three

52

48

45

43

33

26

21

5

(% respondents)

What, if anything, does your business plan to do by 2020 in order to adapt to the changing needs of your workforce?Select all that apply

Changing the employee benefits we offer

Giving employees more choice over their benefits

Offering more flexible working hours or working from home

Ensuring that the skills of older employees remain up to date

Looking at how to address inter-generational differences in our workforce

Making physical changes to the workplace

Adapting our structure to ensure that older workers who reduce work hours or responsibilities retain their status within the company and continueto feel valued

Other, please specify



Very unlikely

Unlikely

Neither/neutral

Likely

Very likely

Don’t know

14

19

29

26

10

2

(% respondents)How likely is it that the benefit programmes you have in place now will remain fit-for-purpose in 2020?

Increase significantly

Increase

Stay the same

Decrease

Decrease significantly

14

45

19

21

0

(% respondents)By 2020, for the typical employee at your company, do you believe that the costs of benefits as a percentage of salary will:

We offer a fully comprehensive benefits package to attract and retain employees

We make sure we’re offering what’s normal for our industry, to keep up with competitors

In the future, we are more likely to give employees a cash allowance and let them choose what benefits they like

We think it’s right to look after our staff, and our benefits reflect that

It’s often better for employees to get certain benefits through work than buy them themselves

We’ve built up benefits over time, without an overarching strategy for choosing them

We have a carefully selected set of benefits suitable for our employees’ lifestyles

It is difficult to reduce elements of our current benefits package so any change results in an increase in overall costs

Due to historic reasons /changes we have lost track of why we have the benefits we have

We only offer the minimum benefits that are legally required, and otherwise just pay cash

62

60

43

26

24

24

21

14

12

7

(% respondents)Which of the following statements describes your company’s attitude to benefits offered to employees? Select all that apply



2

13

3

5

27

20

25

28

3734

48

1838

20

18

3533

1 Strongly agree 2 Somewhat agree 3 Neither agree nor disagree 4 Somewhat disagree 5 Strongly disagree

The health and wellbeing of our workforce will be an increasingly important issue for us as an employer

The state will play a reduced role in providing healthcare

Healthcare costs will increasingly fall on employers

Healthcare benefits will be increasingly important to employees

(% respondents)

Do you agree or disagree with the following statements about health and wellbeing of your workforce in the future (to 2020)?Rate on a scale of 1 to 5 where 1 is strongly agree and 5 is strongly disagree

Retirement provision

Savings scheme


Life insurance

Disability protection

Critical illness protection

End of life care

17

15

28

8

28

33

44

3359

3845

1868

3636

5121

3631

1046

(% respondents)Who should be primarily responsible for providing and/or funding the following benefits?

Individual Employer State

Attracting talent

Employee retention

Wanting employees to have an adequate income in retirement

Workforce planning (managing when employees retire)

Compliance

32

22

22

15

10

(% respondents)What is your company’s main objective in offering retirement benefits now?

Wanting employees to have an adequate income in retirement

Employee retention

Attracting talent

Compliance

Workforce planning (managing when employees retire)

35

28

20

10

8

(% respondents)What will be your company’s main objective in offering retirement benefits by 2020?



Excessive regulation

Cost of implementing changes

Growing costs (defined benefit plans)

Managing the risk posed to the business (defined benefit plans)

Lack of tools to measure ROI to justify the costs

Low levels of appreciation for retirement benefits among employees

Low levels of financial literacy/understanding amongst employers

Lack of bottom line benefit makes change hard to justify

Lack of tax incentives

Staff do not have time or resources to manage retirement plans

Low levels of trust amongst employees for financial products


Staff haven’t requested any changes so employers do not need to make any

36

33

33

33

26

21

19

12

12

10

10

5

0

(% respondents)What challenges are employers facing in making changes to their retirement benefits? Select up to three

Demographic changes (ageing population)

Insufficient savings being made by individuals

Unrealistic expectations of individuals

Government deficits/debt (impact of austerity measures)

High costs for businesses providing pensions.

Regulatory and legislative changes

Too many people not working to or past the state retirement age

Unrealistic government entitlements (State pension, pension age)

Not relevant for my country, our retirement system is sustainable

Employers underestimating the future cost of promised benefits


29

15

12

10

10

10

7

2

2

0

2

(% respondents)What is the biggest challenge facing the system for retirement savings in the country in which you are based?



542

2025

1315

27

25

33

27

25

30

5

10

(% respondents)

Do you agree or disagree regarding the following statements about retirement provision in the future?Rate on a scale of 1 to 5 where 1 is strongly agree and 5 is strongly disagree

It is not an employer’s role to help their employees to have a comfortable standard of living in retirement

Employers should bear the risk of providing for their retirement

As an employer, we are concerned about the reputational risk of workers reaching old age and not being able to retire


Increase significantly

Increase

Remain the same

Decrease

Decrease significantly

33

50

15

3

0

(% respondents)How do you expect the number of employees aged 60+ to change by 2020?

Older workers are less productive than younger workers are

Older workers have greater skills than younger workers do

Older workers are less motivated than younger workers are

Older workers are easier to manage than younger workers are

Older workers take more time off for health reasons than younger workers

28

5

33

13

23

182828

18482010

253013

205018

203523

(% respondents)

Do you agree or disagree with the following statements about older workers? Rate on a scale of 1 to 5 where 1 is strongly agreeand 5 is strongly disagree


Higher costs of benefits

Greater employee demand for benefits (healthcare, retirement and other benefits)

Increased flexible working (to provide care for older dependents, phased retirement, etc)

Progression of younger workers becomes more difficult

Greater risk of age discrimination claims

43

31

29

24

19

(% respondents)Which of the following do you think is most likely to happen as a result of an ageing workforce? Select up to two



Board member

CEO/President/Managing director

CFO/Treasurer/Comptroller

CIO/Technology director

Other C-level executive

SVP/VP/Director

Head of business unit

Head of department

Manager

0

14

26

7

0

12

5

12

24

(% respondents)Which of the following best describes your title?

Human resources

General management

Finance

IT

Information and research

Operations and production

Procurement

Risk

43

21

19

7

2

2

2

2

(% respondents)What is your primary job function?



500-1,999

2,000+

21

79

(% respondents)How many employees does your company have globally?



Aerospace and Defence

Automotive and Transportation Equipment

Charities and Non-Profit

Chemicals

Communications

Consumer goods

Education

Entertainment and media

Financial Services: Banking

Financial Services: Insurance

Financial Services: Other financial services

Food and Beverage

Government/Public sector

Health Care

Hospitality (Restaurant, Hotel/Lodging, Tourism and Leisure)

IT and High Tech

Manufacturing

Natural Resources

Oil & gas

Pharmaceuticals

Professional and Business Services

Property and Construction

Publishing and printing

Retail

Telecommunications

Transportation

Utilities

Wholesale


5

0

0

10

0

10

0

5

2

2

7

7

2

2

0

14

10

0

2

2

12

0

2

2

2

0

0

0

0

(% respondents)What is your industry?



Publicly listed

Other privately owned (partnership, limited liability, etc)

Family owned

Government/State owned enterprise

Private Equity portfolio company

57

29

10

5

0

(% respondents)Please state which of the following best describes your company?

Less than €500m

€500m to €1bn

€1bn to €5bn

€5bn to €10bn

More than €10bn

0

19

26

12

43

(% respondents)What are your organisation's global annual revenues?

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Time to start worrying? The implications of an ageing workforce in The Netherlands

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Transcript of Time to start worrying? The implications of an ageing workforce in The Netherlands