Understanding the Demand and Growth Potential of the Aged Care Services in Australia
The elderly care sector in Australia is growing. The Productivity Commission predicted that by the year 2050, more than 3.5 million Australians will require aged care services in a recent report on caring for older Australians. Accordingly, the elderly care industry will need 1 million additional staff by 2050, or four times as many as it needs now.
The aged care industry is “on the edge of far-reaching change, with demographic, legislative, and financial variables converging to transform the way healthcare and support services are procured, paid, and managed,” according to the network of aged care consultants. Here are a few of the primary factors contributing to Australia’s need for elderly care specialists.
According to health.gov, there will be 5.2 million more people over the age of 65 by 2027, up from the current 3.8 million. Another research predicted that the number of those 85 and older will grow by 360% by 2044. As more people rely on them, the need for senior care services will only grow.
Extended life span
Australians are living longer than ever because to advancements in their health. Following Queen Elizabeth II’s coronation, 40 Australians celebrated their 100th birthdays and received letters. In 2018, almost 2,600 individuals passed the century mark. In Australia, it’s expected that 18,500 people will turn 100 in 2044. The amount of years spent in retirement will increase demand for aged care services.
Workforce to Retiree Ratio
As the population ages, there will be a greater need for labour in Australia. For every couple who was of retirement age in 1970, there were 15 people in the working-age population, according to a McCrindle study. Only 10 individuals were of retirement age for every couple in 2010; by 2050, only 5 people are anticipated to be at that age.
Future workers in Australia could be concerned about how technological innovation might affect their jobs in addition to rising demand. However, technological development also creates job vacancies for occupations requiring care-intensive work.
Careers vs. Technological Change
Jobs in the elderly care and support sector frequently include irregular tasks that are difficult to automate. Renee Leon, the secretary of the federal Department of Employment, discussed this alteration in an interview with the Sydney Morning Herald:
Over the next five years, the caring industry that surrounds community services, elder care, and health care will create tens of thousands, if not hundreds of thousands, of jobs. By developing roles in the field of personal care that cannot be mechanised or outsourced, this was generating a large number of entry-level and medium-skilled jobs for the future workforce.
In order to fulfil the demands and desires of consumers, the aged care profession will alter as it gains popularity across the nation.
Care changing preferences (The Home-Based Care Trend)
Consumer preferences will become more significant as the government “moves toward a market-based consumer-directed care model for the aged care industry.”
The following are the baby boomers’ top recent trends:
- ageing at home
- more individualised care
- higher standards of care
According to a recent Deloitte report, client choice is being prioritised more in the aged care industry. For instance, more older Australians are choosing, if possible, to “age in situ” (i.e., at home). By offering independent living alternatives, cutting-edge amenities, and individualised care, providers are increasingly modifying their offers when residential care is chosen to match the desires of certain residents.
Australians desire to live in their present houses for extended periods of time while still receiving the resources needed to maintain an active and involved lifestyle. If you wish to work in home and community care, think about adding the “Home & Community” specialisation to your Certificate III in Individual Support.
Conclusion
Many Australians will want skills to support and empower them when they enter retirement so they may keep their independence. The elderly care support workers can provide these services to help their patients live better lives. According to anticipated trends, the need for understanding, caring workers will only rise, making Australia’s senior care sector an expanding business. Want to know more? Connect with Ritika Agarwal from E2VS and get your issues sorted.
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