The board of the company you work for, has seen news articles about Global
warming causes weather changes (https://www.bbc.co.uk/news/
IMPACT OF GLOBAL WARMING ON UNILEVER
This report is based on the impact of global warming and climate change on Unilever, which is a consumer goods company of the United Kingdom. It has been found that global warming is dramatically changing the climatic pattern of several countries of this world and the United Kingdom is one of them. The United Kingdom has been experiencing both heat waves and extreme cold due to global climate change. Major competitors of Unilever, Nestle, Reckitt Benckiser have introduced several initiatives for combating global warming. However, other companies like Deloitte, EDF Energy have set a benchmark in terms of environmental performance and sustainability. Based on the findings of this report it has been recommended to Unilever that this company can hire external service providers to measure its environmental performance. In addition, Unilever can integrate advanced ICT in supply chain management for reducing negative influences on the natural environment.
Table of Contents
1. Brief Overview of Unilever
3. Impact of Global Warming on Unilever
4. Competitors Implementation
4.2 Reckitt Benckiser
5. Best in Class
5.3 Hargreaves Lansdown
5.4 EDF Energy
6. Key Recommendations
1. Brief Overview of Unilever
In this slide, it has been indicated that Unilever has been involved in the consumer goods industry that have multinational customer base of the United Kingdom. It was seen that this company has been delivering its products to the various countries. The product list of the company consists of food and beverages, beauty, personal care products and savoury, clothes and garments. There have been 161,000 employees who are associated with the global business operations of this company (Unilever.com, 2019). At present, the Chief Executive Officer of the company is Alan Jope, Nitin Paranjpe as Chief Operating Officer and Graeme David Pitkethly as Executive Director. David Blanchard has been appointed as the Chief Research and Development Officer, and Dave Hughs as senior vice President.
This slide show that the issue of Global warming has been spreading worldwide and it needs to be concerned about. The temperature of Earth has been risen by 0.8% Celsius along with the change in climate and its various devastations being a subject of objection in entire UK (Zehr, 2016, p.78).
This slide indicates the acceleration of the usage of renewable energies that includes solar, biomass, geothermal and wind as an alternative source of the fossil fuels for prevention of global warming (Crutzen et al. 2016, p. 230). The reduction in the consumption of energy as well as the resources of water by the usage of equipments that are advanced has been aimed.
Global Warming is one of the most important aspects of climate change, which causes a long-term increase in Earth’s average temperature. In this context, it can be said that global warming does not increase the temperature only. In addition, it changes the climatic pattern of Earth considerably. Jacobson (2017) has opined that increasing competition for limited amount of fossil fuel is accelerating anthropogenic global warming. Apart from this, other extreme behaviours of human beings like overexploitation of natural resources are accelerating global warming. Anthropogenic activities have accelerated global warming and climate change; on the contrary, consequences of global warming are becoming threat to human existence. Consequently, human beings are becoming concerned regarding mitigation of global warming and climate change. It has been noticed that global warming and climate change is associated with weather extremities including both hot and cold.
Figure 2.1: Temperature of the United Kingdom in February
(Source: Bbc.com, 2019)
The United Kingdom is experiencing fluctuations in average temperature due to global warming. Extremity in both hot and cold weather is causing significant issues across the United Kingdom. Extremely cold temperature can freeze supply chain movement by decelerating business operations. As commented by King and Karoly (2017), the United Kingdom has experienced extreme cold in 2010, which in turn has caused massive flight cancellations. Hence, it can be said that flight cancellation can disrupt movement of raw materials, products or other requirements considerably. On the other hand, extreme hot temperature has caused heat waves in the UK in 2018 (Bbc.com, 2019). Due to heat weaves, household energy demand has increased considerably. Fluctuation in climatic pattern has direct influence on purchase of consumers, which in turn, influences activities of business companies like Unilever. It has been noticed that global consumers are becoming concerned regarding packaging materials of products due to negative impacts of plastics on natural environment. Consequently, business organisations have to change their existing business operations for keeping pace with changing preferences of consumers. The government has estimated that the CO2 and other equally harmful gas emissions must be reduced by 50 % by 2025 and 80% by 2050 in their Climate Change Act, 2008. In between the year of 2000 and 2014 United Kingdom has faced seven of its warmest years and 4 out of its 5 wettest years. Excessive high temperature results into high evaporation rate and the huge rainfall comes consequently.
The steps taken by nestle in order to reduce the bad impacts of global warming are as follows
In this slide the company of Nestle has been able to reduce the emission of greenhouse gases for half in the last 10 years. The company has been improving their efficiency of energy by the usage of renewable sources for the reduction of CHG emissions that has been related to the distribution as well as production of food along with beverages (Nestle.com, 2019).
The steps taken by Reckitt Benckiser to control the global warming and climate change are as follows
This slide has shows the Reckitt Benckiser (RB) being acknowledged as a global leader for doing various activities in controlling the carbon emission. The RB has been included among 35 of the organisations to be awarded by CDP a leading position on board. The process of deforestation has been resulted in 155 of total CHG emissions in the world. The RB has made much advancement in their technological sector and the work in their field of palm oil because of Deforestation (Rb.com, 2019).
3. Impact of Global Warming on Unilever
It has been mentioned that Unilever conducts its business operations across the world. Hence, this company has to consider preferences of global consumers and other stakeholders for conducting successful business. In this context, it can be mentioned that environmental legislation of different countries tends to be different. Unilever has the obligation of satisfying these different legislations while conducting business operations. Apart from these, Unilever may have several negative impacts from global warming, as it damages business operations in general. Matthews et al. (2017) have mentioned that along with human beings, economic productivity of a country is considerably impacted by higher global temperature. Reduction in economic productivity of the United Kingdom may hamper supply chain management of Unilever. In addition, Unilever has to become accustomed to constant hotter temperatures of the United Kingdom, if global warming continues to develop at current rate. It can be said that Unilever may have to change their investment plan for focusing on advancement of existing infrastructure to combat changing pattern of climate. During heat wave, poorly ventilated office may fails to withstand the increasing amount of heat. By taking opinions of Philander (2018), it can be commented that global warming changes expectations and requirements of all stakeholders of business organisations, as all of them are affected by climate change and global warming in a different manner. In case of Unilever, it can be said that marketers of this company need to focus on eco-friendly approaches for gaining popularity across the world. Board of Directors of this company has to make major organisational decisions for integrating sustainable and eco-friendly business operations in the existing ones.
Currently global warming is one of the greatest challenges Unilever is facing as a society and as a business organisation. In order to tackle climate changes transformational changes needed to be incorporated in the operating systems Unilever use. Unilever is promoting the policies to support the goals of Paris Agreement to control the rising global temperature. Unilever is persuing this work with a prominent target within their operations and also in partnership with other private sectors to accelerate the action around the world against this issue. Nothing is more efficient than demonstrating to government that gained progress in decarbonising the economy is achievable. That is why Unilever claimed in the COP21 to be carbon positive in their operations by the year 2030. Unilever used to take part in several events related to environmental issues such as United Nations Intergovernmental Climate summits and supports all the policies and operations that enhance the low-carbon economy, driving growth and reducing risk factors.
Unilever works in collaboration with other business organisations against these environmental issues.
Unilever is taking part in the Low Carbon Technology Partnership Initiatives (LCTPi) promoted by WBCSD in order to identify business solutions to global warming and climate change. If all the participants succeed to fulfil their commitments then LCTPi is about to achieve the goal of reducing emissions by 65% by the year 2030.
Being a member of Carbon Pricing Leadership Coalition (CPLC), Unilever implement effective carbon pricing systems and policies.
Other than these Unilever also collaborates with United Nations Global Compact (UNGC), World Economic Forum (WEF), The Global Commission on the Economy and Climate in order to control the global warming and climate changes (Unilever.com, 2019).
4. Competitors Implementation
Nestle is one of the major competitors of Unilever, as both of them delivers products in international markets. It has been found that Nestle is constantly trying to improve its environmental performance for combating global warming and climate change. It has been noticed that excessive emission of carbon dioxide is one of the major reason behind global warming. Nestle is considered to be one of the leading companies in the area of global warming mitigation. Their activities for reducing Green House Gases (GHG) are highly recommendable. Consequently, measurement of carbon footprint has become a major indicator of environmental performance. Nestle have reduced the emitting green house gases such as C02 by 50% over the past ten years. By taking ideas of Boysen et al. (2017), it can be stated that it is essential to introduce fully de-carbonised world economy to satisfy frameworks of Paris Agreement 2015. Nestle is improvising their energy efficiency and energy resources using renewable sources in order to reduce the GHG emissions related to the production and distribution of food and beverages.
In this context, it can be mentioned that Nestle has taken the following measures to reduce its greenhouse gas emission (Nestle.com, 2019)-
Using rail or short-sea shipping instead of long-distance road transportations in Europe
Using wind energy instead of fossil fuels in Mexico
Installing wood-fired boilers in France
Claiming their products, raw material, and packaging not to be connected with deforestation.
Promising to introduce environment friendly ice-cream freezers in UK market.
Due to these initiatives, Nestle has been able to achieve maximum score in CDP in ‘Climate Disclosure Leadership Index’ and ‘Climate Performance Leadership Index’ in 2012 and 2013 (Nestle.com, 2019).
4.2 Reckitt Benckiser
Unilever experiences competition from Reckitt Benckiser, mostly in local markets. It has been observed that Reckitt Benckiser has been trying to establish a better environment by making responsible decisions. Reckitt Benckiser Company is highly acknowledged for their activities to control carbon emission and climate change and belongs to the 3% of organisations which were awarded by CDP. This company has focused on specific areas like energy, deforestation, water scarcity, and creation and hygiene, for improving its environmental performance. Reckitt Benckiser has installed solar panels for reducing greenhouse gas emission. This strategy has helped Reckitt Benckiser to reduce 2% carbon footprint, to reduce energy consumption by 19.9% and to reduce carbon emission by 31% since 2012 (Rb.com, 2019).
Figure 4.2.1: Water Impact of RB Products
(Source: Rb.com, 2019)
It has been observed that apart from energy, water is another essential factor of environmental performance of Reckitt Benckiser. Marx et al. (2018) have said that Southern Europe is at higher risk of climate change, which in turn can alter hydrological cycle of this country. Consequently, Reckitt Benckiser has aimed to reduce water impact of its products and entire business management process. Goal of Reckitt Benckiser for 2020 is to reduce water impact by 1/3 for per dose of product, while, it has reduced water consumption by 36.5% since 2012 (Rb.com, 2019).
5. Best in Class
KPMG is one of the biggest auditors in Europe, which deliver financial services across the world. Hence, it can be said that even minor change in everyday practices of this company can have influence over natural environment of entire world. It has been found that KPMG has been trying to improve its environmental performance along with other companies. Donnelly et al. (2017) have commented that measurement of carbon footprint has become essential prior to development of sustainable development plan. In this context, it can be mentioned that KPMG helps other companies to have disclosures including carbon footprints, environmental performance; financial risks associated with climate change and greenhouse gas inventories. In case of own performance, KPMG has decided to replace all single-use plastic cups with biodegradable or paper cups (Openaccessgovernment.org, 2019). It has been mentioned that plastics have several negative influences on natural environment, as it cannot be degraded by natural procedure. Reduction of use of plastic has become one of the major concerns of global population. In this scenario, replacement of all plastic cups with biodegradable or paper cups is definitely an effective and innovative approach.
Deloitte has adopted a twofold initiative for ensuring environmental sustainability. This company itself performs sustainable practices along with advising other companies to achieve international sustainability criteria. It has been noticed that Deloitte measures its environmental performance for the entire global network. In this context, it can be mentioned that this company purchases raw materials from certified suppliers. As mentioned by Miller and Hutchins (2017), dealing with certified suppliers is required for maintaining quality of products and services in terms of sustainability. In Finland, Deloitte has provided cycles to all of its employees in order to reduce greenhouse gas emission. On the other hand, in Germany, this company has achieved ISO 50001 certification for efficiency in energy management (Deloitte.com, 2019). In the United Kingdom, this company has won the reward of “Most Environmentally Friendly Firm”. These practices of Deloitte have helped it to gain green image in international market. Along with having positive impact on green image of Deloitte, sustainability initiatives of this company have positively impacted natural environment of this world. In this context, it can be mentioned that Deloitte has not concentrated on a particular geographic location; instead, it has introduced different sustainability practices for different geographic locations. Global approach of Deloitte has made it one of the bests in class.
5.3 Hargreaves Lansdown
Hargreaves Lansdown is one of the most popular financial service companies in the United Kingdom. It has been noticed that this company sells shares and funds through online website. Rose et al. (2017) have stated that reduction in use of paper has direct impact on global warming, as it saves thousands of trees. It has been noticed that human beings have cut done thousands of trees in order to make paper since ancient times. Deforestation has direct influence on whether of surrounding areas. Hargreaves Lansdown has taken innovative measures to combat with changing climatic pattern of this world. It has been mentioned that Hargreaves Lansdown provides financial services through its website. However, it has recently transferred all of its investments and pensions to online services (Openaccessgovernment.org, 2019).
5.4 EDF Energy
EDF Energy is the largest among the producers of low-carbon electricity in the UK. Damm et al. (2017) have commented that pattern of electricity use is one of the major determinants of global warming. Consequently, EDF Energy has electrified own fleet and vehicles by low-carbon electricity for saving around 6.2 metric tonnes of carbon dioxide (Openaccessgovernment.org, 2019).
Best in class companies that puts an effort to reduce the climate changing factors
In this slide, the KPMG has been seen as one of the biggest auditors in Europe has been trying for the improvement of its environmental performance. KPMG has decided for using the biodegradable paper cups rather than the plastic cups as because plastics have negatively influenced the natural environment (Jang et al. 2015, p.15).
6. Key Recommendations
As global warming and the change in climate caused by it is one of the alarming issues to be concerned of, there are few strategies that the companies and organisations must implement in order to control it. Based on findings of this report, it can be recommended to Unilever to measure its environmental performance. Diffenbaugh et al. (2017) have mentioned that quantification of impacts of global warming is beneficial for development of suitable sustainable practices. In this context, it can be suggested that Unilever can hire companies like Deloitte or KPMG for getting proper disclosures regarding environmental and sustainability performances. It has been found that proper measurement of environmental and sustainability performance is required for development of effective sustainability plan. Climatic pattern of the United Kingdom has dramatically changed over last few years due to global warming. Unilever has to modify its existing infrastructure and business operations accordingly.
Using online methods instead of traditional ones can be effective for maintenance of environmental performance. Higón et al. (2017) have stated that use of Information Communication Technology has the potential of reducing carbon dioxide emission considerably. In this context, it can be recommended that Unilever can use advanced ICT in supply chain management. Integration of ICT in supply chain management of Unilever will be beneficial for global environment, as supply network of this company is spread across the globe. X
Ethical concern associated with recommendations given for Unilever is sustainability and protection of natural environment. It has been noticed that wellbeing of natural environment and society is one of the major responsibility of business organisations. However, overexploitation of business companies has resulted in drastic damage to natural environment and society. In this context, it can be said that fulfilment of environmental requirements is one of the major ethics of global business companies.
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IMAPCT OF AGEING POPULATION ON GLAXOSMITHKLINE
Table of Contents
1. Brief overview of the company
3. Impact on the company
5. Best Class
6. Key recommendation
This slide highlights that GlaxoSmithKline is one of the largest pharmaceutical companies in UK. This company manufactures pharmaceutical products such as vaccines and medicines. Apart from that several health care products like oral health products, nutritional supplements, skin care products are offered by the company. The top selling products of this company are Advair, Flovent, Augmentin, Avodart as well as Lamictal including Sensodyne and Aquafresh as well. GlaxoSmithKline was founded in 2000 merging the two famous companies, Glaxo Wellcome plc and SmithKline Beecham plc. This company is aimed to become one of the most trusted and innovative healthcare companies in UK. This company has implemented expert recommended brands in their oral health, nutrition, pain relief, and respiratory category. This company becomes the third largest pharmaceutical company in UK. This pharmaceutical company began to produce various baby milk products and baby food product as well. Apart from that this company has developed commercialized medicine in order to treat some chronic and acute diseases. Now they are aimed to develop a treatment for infectious disease, respiratory diseases, and HIV (gsk.com, 2019).
Apart from medicines and treatment, they have developed their business in designing vaccines too. A large range of vaccines is offered by the company for people of all ages. GlaxoSmithKline has reported providing over 2 million vaccines over 160 countries per day. Their vaccine business portfolio is 40 pediatric adult and adolescent. Their travel vaccines are subjected to provide protection for 20 diseases. In recent years they have signed an agreement with Pfizer in order to develop a leading Consumer Healthcare Joint Venture. Apart from that this company is focused on its employee engagement too for their business growth. GlaxoSmithKline followed a working strategy involving a multi-disciplinary team that includes, marketing director, HR director and head of communications. They are focused to develop their business by taking the cultural changes under account (gsk.com, 2019).
GlaxoSmithKline is third largest pharmaceutical company in UK. This company produces verities products including baby food products. The company hired around 59000 educated as well as experienced employees. Apart from that, this organization has started 76 manufacturing facilities and 50 operating companies as well. This company has launched various baby food products including milk products. In present day, this company becomes very trusted as well as innovative health care organization in UK. The authority of the organization launches various types of product such as oral health, pain relief and nitration product as well. The authority of the organization hires a huge number of employees and paid effective amount individuals.
The organization offers several health care products such as skin products, oral products as well as nutritional supplements. Apart from that, the top products which are offered by this organization such as Advair, Lamictal, Augmentin as well as Sensodyne products are essential. Besides, the organization announced near about 2 million vacancies per day over 155 countries. The concern organization tries to develop treatment for critical disease, HIV as well as respiratory disease. This organization is concerned about the various diseases and tries to develop their treatment by improving the activities. Besides, the organization hires large number of employees in different ages. It is helpful to develop their business rapidly. A huge number of vacancies are provided throughout the world. The HR department takes huge responsibilities for hiring the educated employees.
Why it is important
In this slide the importance of concern for global warning has been highlighted. The concern organization accesses various pharmaceutical products such as oral products, health products, skin products as well as nutritional products to develop their business. GlaxoSmithKline is third highest pharmaceutical organization in UK who hires almost 55000 employees per day. This organization is helpful to eliminate such critical disease by producing effective treatment. This organization will focus for developing the various critical disease including the HIV, infection as well as respiratory disease. The human resource department also focuses on the recruitment process and tries to develop the communication skills among the employees. This organization focuses on the launching the medicines over the various disease such as HIV and infection as well. Besides, the most important thing is that it is helpful to eliminate various critical diseases by giving proper treatment. Apart from that, the organization generated huge sales of around £ 17.3 billion. This organization becomes a popular as well as famous in the world. Apart from that, the human resource management also focuses on the recruitment process and communication skills as well (Pittelkow et al. 2015, p.20).
Aim that can be achieved
This slide focuses on the organization need for spreading their business as global business. The authority of the organization needs to develop the communication skills. The organization has to provide more products that are valuable for the customers. The organization has to hire more number of employees to deliver online medicine as well. The authority of the organization has to focus their online marketing as well as online delivery process. The organization has to develop their business as online business as the customers are very much helpful for their service. Besides, the organization has to produce more effective product. Apart from that, the organization needs to develop their business as global business (Renzulli, 2016, p.55).
This report is aimed to discuss the impact of aging population in labor market in UK. Aging can be considered as one of the major demographic condition in the business market. In recent years UK is facing a huge change in their labor market due to the aging population. In this aspect, it should be mentioned that aging population can provide rigidity to the labor market. In order to survive in the competitive business environments and rapid globalization companies, are tend to implement rapid economic changes. In that aspect, it can be stated that the decreasing population and aging should be taken into consideration. Older labors are not able to adapt to globalization. Therefore, this report is aimed to analyze the compliance of the aging population in the labor market. Apart from that, the business strategies that have taken by the leading companies and the competitors of GlaxoSmithKline, is going to be discussed.
Key finding on the organizational employees’ productivity suggests that,
The HR department hires the effective and educated employees who are interested to do their work. Bedsides, employees spread almost 10-11 hours in their workplace. They have to be concerned about their work (Halpern et al. 2015, p.3700).
In this current age of globalisation and competitive business world demography has become one of the major factors. It has reported that an increasing amount of aging population is affecting the labor market of UK. It has seen some of the companies are aimed to implement young employees for better production rate. On the other hand, some of the companies are aimed not to unemployed their old employees. In case of pharmaceutical companies, experience and knowledge are the major factors to run the business successfully (Walker, 2018). Apart from that, adaptation of new technologies need skilled and advance staffs. In that aspect, in order to compete with the business market most of the companies are going through unemployment of the aging population. As per the report, the aging population of UK is increasing rapidly which can implement a huge effect on the economy of UK. As per the reports of Office for Budget Responsibility, due to the demographic shifts the spending of NHS will double GDP of 8% in 2020 to 13.8% by 2060. On the other hand, without changing the policies economy could be raised to 283% by 2067 from t80% recently. On the other hand, it has reported that aging society can slow down economic growth by 3%. However, it can be mentioned that being one of the leading pharmaceutical companies in UK GSK oppose the demography within their workforce. They prefer the knowledge and experience for productivity. Apart from that aged employees are less tend to change their organization. They can improve productivity using their knowledge whereas, younger employees increase productivity using their skills and technical knowledge. Apart from that the accepting diversity and opposing demographic changes within the workplace can help employees to increase their productivity. It can lead to stakeholder satisfaction too. This organization is concerned about the various diseases and tries to develop their treatment by improving the activities. Besides, the organization hires large number of employees in different ages. It is helpful to develop their business rapidly. A huge number of vacancies are provided throughout the world. The HR department takes huge responsibilities for hiring the educated employees. Allergen holds a wide range of the employees who are belonging in different groups. Besides, in this organization women are also involved and they also work their level best. The authority of the organization gives a huge chance to work all ages of the employees. Apart from these, the organization gives a huge advantage that is critically helpful to enhance the mood of the work of the employees. Allergen is one of the competitors of the company GlaxoSmithKline.
Allergan holds greatest strength in diversity and inclusion. It rests its productivity on its talented, committed and diverse employees, whereby employees belong to a wide range of backgrounds as well as age groups. Gender and culture also forms a part of the diversity policy. In 2016, women comprised 52% of our workforce. This includes more than 50% of our manager and director roles, and 30% of our executive positions. 25% of the Board of Directors of Allergan plc is comprised of women. The company also has a high level of tenure because 30% of its employees work for several years and the organisation gives considerable importance to age and experience. Though the ageing population is resulting in discrimination and changes in labour policies. Allergan maintains a balance of young and aged workers so that the company is not devoid of experience. Young workers can get motivated by the aged ones and help in increasing workplace efficiency.
Competitors of the organization have been identified in this slide. The effective competitors against the pharmaceutical company are Allergan and Sanofi according to their business class as well as the age related groups. Allergen holds a wide range of the employees who are belonging in different groups. Besides, in this organization women are also involved and they also work their level best. The authority of the organization gives a huge chance to work all ages of the employees. Apart from these, the organization gives a huge advantage that is critically helpful to enhance the mood of the work of the employees. Allergen is one of the competitors of the company GlaxoSmithKline. The organization of allergen holds a large range of employees who are belonging in different ages. The main advantage of this organization is to hire women employees who are working as much as possible in their workplace. Besides, the organization gives so many opportunities that are critically essential for the workers to boost their work. These types of activities are helpful to develop the business process effectively (Liang et al. 2016, p.52).
Sanofi is involved in the diverse workforce and the company respects their diversity on the basis of experiences and backgrounds. It is expected that by 2020, Sanofi will comprise of 35% of millennial. It has been observed that Sanofi in US has received distinction in the best place to work for LGBT community. The company also provides opportunities to the disabled people to give their best. A female talent program has been developed by the company. This shows that Sanofi has diverse workforce and they respect the values. It can be said that if a company is giving such importance to diversity, it will also take age into consideration and help in developing an age-inclusive workforce.
This slide focuses on Sanofi which is another competitor of the organization GlaxoSmithKline. This organization is involved in diverse workforce according to the basis of experience as well as background. Besides, a female talent program was organized by the organization which is very much effective for the women as they can improve their knowledge related to the workplace. The organization has provided so many opportunities to disabled people as they feel some security. Apart from that, the company takes age consideration and help to the people. The sanofi is a diversity based company which will give so many opportunities to the disable peoples. This kind of activities is critically beneficial to the disable people. They feel secure of their life. Besides, the organization has arranged a female talent program which gave a huge impact for the females. Apart from that, they can grow the knowledge of the concern activities. This organization works with a wide range of the people (Bloom et al. 2016, p.110).
EY is a leading company in USA that do not support the age discrimination in their workplace. As per their business strategies is to implement experience and knowledge in their productivity., therefore, they are unwilling to unemployed older employees as they have long working experience in the company. Their experience helps the company to increase its productivity. As per the reports UK companies are concerned about the aged employees. It has seen that near about 8.6 employees in UK are going to be of age 65 years and more in upcoming 50 years. Apart from that only 6% of employees in UK are of 25-year whereas, 52% staffs rea between the age group 35-54. Apart from that in order to implement advanced technologies, it is important to recruit new and young employees. Therefore, EY is focused to increase education among the existing workforce to make them adaptable in the rapidly changing business world. This company stated that today’s elderly will be tomorrow’s “well-derly”.
Bloomberg is another leading company that does not support aging discrimination within their company. This company is reported to have 37 million employees for mover 55 years. They stated that older workers should provide different types of layout of work. Unemployment of older workers is not a good decision or the growth of the company. Implementation of young workers may be useful to adopt new and advanced technologies but on the other side, young and skilled employees are more tends to shift from one company to another company. above all lack of experience may lead to decrease in productivity. In that aspect, Bloomberg opposed age discrimination and is focused to implement new layout for their older employees.
HSBC is one of the leading banks in UK that opposed the practice of demographic shift. As per the economists of the bank, this new trend of demographic shift is going to affect the business world of UK in recent futures due to the decrease in population rate all over the world. In that aspect, they do not support unemployment of aged employees. Rather they are focused to make aging population educated about the advanced technologies to get better performance from them. In the UK, 44% of employers claim to be attempting to recruit older workers, 17 but conclusions about the effectiveness of age equality policies cannot yet be drawn as it is difficult to monitor their impact. Apart from that, it has seen that earning gains among the older employees is higher than the young ones in some cases. As per the reports, the earning gains of an average employee of n65 to 69 year old are 30% in comparison the workers of age group 35 to 54 years. On the other hand, the earning gains among 70 to 74-year-old workers are 25%. Therefore, the earning gains of older workers can improve the educational attainment in compare to the younger workers.
The aging of workforce in GSK is likely to implement ethical dilemmas and increase complexity within the company as age discrimination is the all-new trend in the global business market. Being one of the leading pharmaceutical companies in UK, GSK does not support age discrimination within their company. Therefore, to meet the challenges that they are facing rapidly due to the aging of the workforce, company is aimed to train their elder employees and retain their skills. In this aspect, company can adhere to the education of elder employees. Employee education may involve training and workshops that can help the employees to get an idea about the new trends and technologies. Proper training and providing knowledge to the employees can help them to upgrade their skills. This can help the company to decrease the loss in productivity and can reduce the lack of skills within the workforce. Apart from that taking a decrease in population rate all over the world, company should focus to recruit elder aged employees.
According to this slide, the organization should improve their communication with other companies. The concern organization may face some issues due to aging of the workforce as they are not able to hire a wide range of employees. The organization may try to involve such kind of employees in their workplace. The organization has to concern about the skills of the elder employees and has to train properly to develop their skills related to the company activities. Proper training as well as knowledge should provide at the start of the work. It is helpful to understand the work in their workplace. The human resource department should more careful about the process of hiring the employees on the organization. Besides, it is also important to develop their business as global business in the UK market. The organization should follow so many activities to develop their business. It is important to improve the business process also. The human resource departmsent should follow the rules which are important. Besides, the HR department should more care in the time or hiring the employees. The employees should have proper knowledge as well as proper communication skills which is very important to the employees. Apart from that, the proper training should provide to the employees at the very first time of the workplace as they can work perfectly (Allen, 2015, p.55).
As stated in the recommendation part aged workers should be trained to increase their productivity. Therefore, it is ethical to keep the aged workers employed within the company. Companies are unwilling to unemployed aged workers for their experience and increasing rate of aging population. On the other hand, company has to unemployment younger employees too. Opposing age discrimination does not mean to cease the new employment. On the other hand, in some cases, it can be seen that older employees are promoted rapidly due to their experience in contrast to young people. This is unethical. Skill and knowledge should be appreciated without age discrimination. Therefore, as per the company ethics, new employment should be done along with older employees. On the other hand, the retirement of an employee should be done based on their physical ability and their willingness to work.
From this discussion, it can be concluded that the aging population has an deep impact on the labor market in UK. Unemployment of older workers is increasing reapi9dly in the global market due to the increasing rate of globalization. In that aspect, it can be mentioned that aging discrimination can be explained as an effective step for company growth but it can be a threat in extended future as the rate of world population is decreasing rapidly. Therefore, being one of the leading pharmaceutical companies GSK does not support age discrimination as experience of the older employees is their assets. Implementation of new young age people can help the company to use advanced technologies but the experience and skills of the older employees can not be overlooked to increase productivity. It can be recommended that new employment should be done along with decreasing unemployment of older people. Providing training to the elder employees can help companies to overcome this ethical dilemma. Apart from that aged employees are less tends to change their organization. They can improve productivity using their knowledge whereas, younger employees increase productivity using their skills and technical knowledge. Apart from that the accepting diversity and opposing demographic changes within the workplace can help employees to increase their productivity. It can lead to stakeholder satisfaction too. This organization is concerned about the various diseases and tries to develop their treatment by improving the activities. Besides, the organization hires large number of employees in different ages. It is helpful to develop their business rapidly.
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