Employers need to plan for the aging workforce-the “gray-haired demographic” is here to stay.
Aging Workforce News (AWN) talks about a newly introduced piece of legislation, the “Incentives for Older Workers Act.” The proposed bill is designed to provide incentives and eliminate barriers for older Americans wishing to stay in the workforce longer, and encourage employers to recruit and retain older workers. AWN explains some of the bill’s highlights:
The proposed legislation (S. 2933, text not yet available) would, among other things: |
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Given the statistics on Baby Boomers in the workplace, this law could help employers deal with what Forbes.com calls the “Gray-Haired Workforce.” By 2010, the number of workers aged 35 to 44–or those typically moving into upper management–will decline by 19%; the number of workers aged 45 to 54 will increase 21%; and the number of workers aged 55 to 64 will increase 52%. These statistic show that the workforce will include more and more employees aged 45 and over for several years to come. And they’re not going anywhere-AARP reports that 79% of baby boomers say they have no plans to retire any time soon.
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