Opportunities and Challenges of Aging Workforces toward HR Practices in Business Management: A Comparison Between Thailand and China

Abstract

As the number of elderly population are getting higher, many countries are now facing with rapidly growth in number of aging citizens due to increase in life expectancy, healthcare advancement, and baby boomers become aged. This leads Human Resource sector to understand more on aging workforces as an individual change process in terms of competencies, motivation, behavior and values. The aim of this study is to analyze and compare the opportunities and challenges in managing aging workforces toward Human Resource practices between Thai and Chinese business sectors. In line with the gathering of secondary data and literature-based analysis found that both Thai and Chinese business sectors recognize the common important challenges of the composition of the workforce and also shrinking young labor forces However, business sector in Thailand presents certain challenges from a human resources perspective. i.e.technology challenges when compared to China. Several companies in China realized that aging workforces tends to have positive contributions; as it will increase competitive edge and intellectual capital especially in technology development. However, several companies in Thailand has recruited of aging workforces by increasing the number of part-time employees and offering flexible work options which are a priority for aging workforces.