The impact of future demographic shifts on the employment of older workers

Article Abstract:

A reduced pool of young and skilled labor has prompted a reassessment of retirement policies that effectively discourage the participation of elderly workers. These policies were developed under the assumption that the aged are less efficient than their younger counterparts, whose numbers were increasing explosively between 1965 to 1985, thus providing the rationale for the former's replacement. On the contrary, three case studies indicate that these older employees are cost-effective workers whose potentials are under-utilized. The US retirement system has successfully contributed to the reduced participation of workers over 55, a situation which must be reversed given the recent demographic trends. Tapping this segment of the work force may entail career advisory and continued education services for the elderly, their enrollment in community centers and phased retirement programs.

Research, Demographic aspects, Labor supply, Labor force

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Facing up to the needs of the older manager

Article Abstract:

Organizations should become aware of the importance of older managers. The Institute of Personnel Management and KPMG Peat Marwick surveyed over 3,000 managers between the ages of 40 and 55 about their organizations' attitudes toward older managers. The results indicated that older managers were dissatisfied with several practices, including the lack of flexible retirement plans, the lack of skills development, the existence of pay ceilings, and the existence of age barriers for promotion. The ways in which organizations can meet the needs of older managers include providing a compensation system that retains and motivates older managers, changing salary structures to reduce the adverse effect of pay ceilings, and implementing equity share schemes.

Human resource management, Surveys, Age discrimination, KPMG Peat Marwick L.L.P., Institute of Personnel Management

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