Why Not Tap Into the Demographic Dividend Of Elders?

The focus on the young has obscured another demographic dividend of experienced, fit, and capable retirees/ rewirees who wish to remain productive.

About Rewirees

• Refers: Rewirees are a subset of retirees who are looking to rewire/reorient their lives by doing something different and meaningful.
• Lump of Labour Fallacy: The belief that elderly workers displace youth employment is misplaced; the engagement of retirees does not reduce opportunities for the young because their skills, expectations, and work roles differ significantly.

Advantages of Rewirees

• Wisdom Capital: Elders possess experience and maturity in the workplace, which is currently being wasted.
• Benefits for Start-ups: Even start-ups can benefit from links with rewirees due to their accumulated skills and practical wisdom.
• The Mentorship Model: A powerful combination for the economy is pairing 25-year-old CEOs with 60-year-old mentors who can manage crises.
• Flexible Compensation Expectations: Some rewirees may be willing to accept below-market wages or even work without monetary compensation.

Retired Armymen- Significant Group of Rewirees

• Focus on Retired Defence Personnel: Despite life expectancy rising to ~70 years, many soldiers retire between 45–54 years; though highly disciplined and trained, they are often confined to low-skill security or supervisory roles in Tier-2 and Tier-3 cities.
• Pre-training by India’s Defence Forces: Pre-training is provided to the defence personnel, and there are job fairs where defence retirees seek jobs with private companies.

Agents of Change 

• Social Impact Groups: These retirees should be engaged as Social Impact Groups. 
• Agents of Social, Economic, and Technical Change: By involving retired senior officers (like Brigadiers) to lead and JCOs (Junior Commissioned Officers)/on-commissioned officers (NCOs) to implement projects at the village level, they can drive improvements in education, sanitation, and technology due to their high social legitimacy.
• Family-Based Participation: This effort should include the family members of rewirees.
• Focus on Women in Families: Particular emphasis should be placed on families’ women, including wives, daughters and daughters-in-law.
• Capacity Building: These participants would require hands-on training for the work they are expected to do.
• Nature of Work: The nature of the work should depend on the aims of the social impact groups for the local area.
• Matching Local Aptitudes: The work should also be aligned with the aptitudes of the local rewirees.

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Conclusion

India’s experience with defence personnel demonstrates that the rewiree dividend can deliver stronger economic and social outcomes; the logical next step is to extend and harness this dividend in the civilian sector.

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