Businesses need to understand the implications of an ageing workforce and how they can help in the fight to find solutions.
Dementia has enormous repercussions not just for the health and aged care systems but for everyone in society and corporate Australia.
With many businesses having three generations of employees, we are seeing a changing nature of work that must accommodate an ageing workforce.
Studies show that nearly 25 percent of our workforce is over the age of 55. Older workers bring vast amounts of knowledge to their jobs and need support to remain in the workforce where possible.
Impacted employees may begin noticing symptoms at work like trouble concentrating and communicating, and they may lose confidence in their abilities. Employers can help manage some of the symptoms through strategies like changing working hours or duties to reduce workplace pressure. With an ageing population, the early stages of ementia are increasingly a workplace issue.
The cost of dementia in Australia in 2016 was $15b and is expected to increase to $26b by 2036 in today’s dollars. 40% of the cost is indirect costs through lost productivity of both persons with dementia and their family and carers needing to reduce their productive work.
In 1970 we had eight workers (taxpayers) to one person over 65. By 2050 there will be just three workers for everyone over 65. This impacts the whole of society, and we all have a responsibility to be involved in this discussion and take action to reduce the impact of this disease.
The impact of many chronic diseases is decreasing due to research that has delivered better treatments and prevention programs. However, the impact of Alzheimer’s continues to increase.
Across Australia, only 10% of medical research grants are fully funded, leaving the research needed to make an impact reliant on philanthropic and corporate support.
The Australian Alzheimer’s Research Foundation has been running for over two decades and supports world-leading research into Alzheimer’s disease, collaborating widely across Australia and Internationally. Our research is led by Professor Ralph Martins AO, and his team are on the cusp of some very significant advances, including an early diagnostic for Alzheimer’s disease more than ten years before symptoms appear.
Why does this matter? An early diagnosis means prevention programs can be commenced or accelerated. Research shows that the risk of dementia can be reduced by 40% Through modifiable risk factors, including exercise, diet and sleep. This allows individuals to make real inroads in prevention knowing they are at risk.
The very early stages of the disease are also a time when treatments have a much higher chance of success. This is particularly exciting as the US Food and Drug Administration (FDA) has recently approved two drugs for Alzheimer’s disease which will be coming to Australia soon. The Australian Alzheimer’s Research Foundation conducted trials on these two therapies and is very excited about the future of treatments for Alzheimer’s disease.
It is difficult to find anyone not impacted by this disease in some way. We invite you to join us on our journey towards an Alzheimer’s free world.
The Australian Alzheimer’s Research Foundation is highly dependent on philanthropic support from those who share our mission to make Alzheimer’s disease treatable and preventable.
Let’s work together to ensure we can all live long, healthy, happy lives and have a workforce that can remain productive as they get older.
Corporate Australia Can Help In Several Ways:
- Providing funding for Alzheimer’s research.
- Encouraging workplace giving where staff regularly give from their pre-tax income to Alzheimer’s research.
- Providing funds in a match-giving campaign.
- Encouraging staff to engage in fundraising activities for Alzheimer’s research.
we'd love to chat with you about how we can work together, visit www.alzheimers.com.au
