Near 46% of young workers feel older colleagues should retire younger

Almost (46%) of young workers agree that older employees should retire younger as they pose a threat to younger workers’ career progression, a survey from KPMG reveals.

Worryingly, just 20% of those surveyed believed that employees will want to retain older workers to learn from their experience.

However, there also appears to be growing acceptance that older workers will have to continue working for longer. Eight out of 10 (81%) respondents said that due to living longer, more people will end their lives in poverty, highlighting the issue of insufficient pensions linked to longer life expectancy. In addition, two thirds also believed that people would be forced to work until they died as rising long term care costs drain retirement funds.

“As people remain in the workplace for longer, older workers will inevitably constitute a larger proportion of the workforce. Although this may breed the pernicious perception that the younger generation will lose out, this does not have to be the case,” KPMG HR global centre of excellence co-lead and partner Robert Bolton said.

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via Half of young workers feel career prospects threatened by older colleagues – Workplace Savings & Benefits.