Understanding the Risks of Your Aging Workforce
March 15, 2017
Do you have the right policies, procedures and benefits in place to transition employees into retirement, or transfer knowledge from one generation to the next?
As America’s baby boomers approach 70, a strong 45 million of them remain in the workforce.1 Not yet ready to pack up their desks and migrate south, the number of older Americans still at work is expected to grow at about 2 percent annually, or more than 3 times the growth rate of the overall labor force.2
This growing, aging U.S. workforce has created several new challenges for employers. For one, older workers cost more. From healthcare expenses to executive salaries, disability insurance and other benefits, employers with an aging staff must consider the potential significance of these items in their annual budget. Other challenges include intergenerational conflicts between employees, age discrimination, the physical demands of some jobs, new skills training and flexible work schedules.
While older workers come with more skills and on-the-job experience, organizations need to consider issues related to phased retirement, workers’ compensation, return-to-work and wellness programs as well as the transfer of knowledge from one generation of employees to the other. How is your company making changes in response to your aging workforce?
Assessing Your Potential Risk is the First Step .....繼續閱讀