Older Workers: Labor Can Help Employers and Employees Plan Better for the Future

TitleOlder Workers: Labor Can Help Employers and Employees Plan Better for the Future
Publication TypeReport
Year of Publication2005
AuthorsUnited States Governmental Office
InstitutionWashington, DC, U. S. Government Accountability Office
KeywordsEmployment and Labor Force, Public Policy, Retirement Planning and Satisfaction
Abstract

Question: The US faces significant challenges as a result of the changing demographic landscape. What areas of the labor market are most affected by the aging workforce and what can employers do to recruit and retain older workers? Finding: Using the NIA-funded Health and Retirement Study, GAO found that All areas of the labor market are likely to be affected by the aging of the workforce. As a result, older workers may be an increasingly important resource for employers. The study found that few employers had begun to prioritize programs that might encourage recruitment and retention of older workers, such as flexible work arrangements, although many employers expressed a willingness to do so. Recommendation: Design a public awareness program to improve planning for both employers and employees, particularly by encouraging retention and recruitment of older workers and providing assistance in locating continued work opportunities. The Department of Labor agreed with the recommendations, initiating an outreach campaign, identifying a number of other initiatives to encourage employment of older workers, and convening an interagency task force to collaborate with other Federal agencies in addressing the demographic challenges on the horizon.

Endnote Keywords

labor Force Participation/retirement planning/Older Workers/Public Policy

Endnote ID

62554

Citation Key5642