Study Shows Growth In Aging Workforce
Ever since the 2008 recession, businesses have seen aging workers sticking around far longer than ever before. In 2015, reports indicated that, for the first time, staffs spanned four different generations — Traditionalists (born before 1946), Baby Boomers (born from 1946 to 1964), Generation X (born from 1965 to 1980), and Millennials (born after 1980).
According to a recent CareerBuilder survey, that trend will continue.
Though the economy is improving, many U.S. workers are still pumping the brakes on their retirement plans. PRnewswire reports that 53 percent of workers aged 60 and above are postponing retirement, with 57 percent of men putting retirement on hold compared to 48 percent of women. In fact, 40 percent of those workers won't be able to retire until they are at least 70.
CareerBuilder representatives believe that postponing retirement will impact the entire workforce, as well as retirement policies and health care planning. Fewer openings will be available to younger generations, but businesses will be able to capitalize on the advanced abilities of mature staffs.
There are benefits to retaining older workers, but there are also hidden struggles. For those businesses where staffs stretch over various generations, here are a few managing tips to ease the burden.
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