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Employer Strategies for an aging workforce

There are a number of reasons why employers should ensure that workers over the age of 50 remain actively employed with their organization.

Nobody wants to lose good workers, and most in this age group have a wealth of experience within both their industry and their company. Many of them enjoy what they do and feel invested in the organization for which they work. They are also in a position to share what they’ve learned with younger employees.

Given all of this, it’s time for employers to consider developing an older workforce strategy.

Outside of certain narrow limitations—such as being unable to meet the physical requirements of the job—the decision on when an employee is going to retire has shifted to the individual. A number of factors come into play as individuals determine whether or not to stop working. They might need the money, especially with recent changes to Old Age Security eligibility. They might simply enjoy the company of colleagues. In many cases, the decision to hold off on retiring stems from the fact that they love what they do…

via Strategizing for an aging workforce | Benefits Canada.

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