Age management and its implementation in banking institutions with regard to the concept of Corporate Social Responsibility

Abstract

Given the predicted global demographic trends and population ageing process the management of bank institutions and of all corporations generally, will have to respond to this invertible process. The bank institutions which will, among other things, implement as a part of their human resources management process the Age Management philosophy, i.e. the management reflecting the age and changing skills of employees in view of the concept of social accountability of corporations, may become profitable and achieve a competitive advantage. In this manner they will also endeavour to improve quality of working life of all their employees regardless of their actual biological age. The article presents an opinion to certain partial results of quantitative and qualitative research focused on the Age Management philosophy in direct connection with CSR concept. The goal of the article is, among other things, to initiate a discussion and contemplations about how the specific variables and elements of the Age Management concept should be set in a bank institution in order to ensure that the human resources management was efficient in terms of a competitive ability of a bank institution and targeted with respect to employees. This thesis should then be actively manifested in the fields of motivation, satisfaction and work performance which factor should increase or be improved and, on contrary, the fluctuation, loss and idle times or absences of personnel of a bank institutions should decrease.