Tag

Aging Workforce

All articles tagged with #aging workforce

world2 months ago•9 min saved

Lessons from Japan's Aging Workforce for the US Economy

The article compares Japan's successful adaptation to its aging population, with nearly 30% of its citizens over 65 still working, to the US, which has a younger demographic but is also facing an aging workforce. Japan's government supports older workers through legislation, job programs, and healthcare, helping mitigate economic challenges. The US can learn from Japan's policies to better support its aging population, including expanding phased-retirement, training, and job redesign, while addressing issues like healthcare and labor market participation.

via Business Insider|

#aging-workforce #elderly-workers #employment-policies

financeeconomics1 year ago•3 min saved

BlackRock CEO Larry Fink Challenges America's Retirement Age

BlackRock CEO Larry Fink criticizes the U.S. retirement age of 65 as outdated, suggesting that Americans should work longer due to changing demographics and the strain on the retirement system. However, experts argue that ageism and health issues often force older workers to retire earlier than planned. Fink's comments are notable given BlackRock's influence in retirement accounts, and he also promotes a new target-date fund. He urges his generation, the baby boomers, to address the nation's retirement problems before their leadership positions fade, emphasizing the impact on future generations and the country's collective belief in the future.

via Yahoo Finance|

#aging-workforce #blackrock #financeeconomics

retirement-planning1 year ago•4 min saved

"BlackRock CEO Larry Fink Urges Longer Working Years to Tackle Retirement Crisis"

BlackRock CEO Larry Fink suggests that Americans should work longer before retiring to address the strain on the U.S. retirement system caused by changing demographics and longer life expectancies. This comes amid a debate about the future of Social Security, with some proposing to raise the retirement age. However, experts argue that aging in the workplace and health issues often lead to earlier-than-planned retirements. Fink's comments are notable given his firm's vested interest in retirement accounts, and he also promotes a new target-date fund. He emphasizes the need for public policy changes to make retirement investing more automatic for workers and calls on his generation to help fix the nation's retirement problems.

via CBS News|

#aging-workforce #blackrock-ceo #retirement-age

businessemployment2 years ago•7 min saved

"The Financial Benefits of Hiring and Retaining Older Workers in Today's Labor Market"

The U.S. workforce is seeing a surge in employees over 65, with older workers making up a significant portion of the labor force. Employers are recognizing the value of intergenerational teams, as older workers bring loyalty, experience, and a desire to make improvements. Research suggests that teams with a wide age range are more productive, and older workers can help combat burnout. However, pervasive ageism remains a barrier, with many older workers feeling unsupported. To foster age-inclusivity, companies are implementing policies and programs to support and retain older workers, recognizing the need to capitalize on their wisdom and experience.

via Fortune|

#ageism #aging-workforce #businessemployment

labor-and-economy2 years ago•5 min saved

"China's Aging Builders Face Retirement Challenges After Years of City Construction"

China's aging construction workforce, consisting of an estimated 300 million migrant workers who helped propel the country's growth, now faces retirement with little savings or formal pensions. With rules preventing men over 60 from working on construction sites and a fast-aging population, the country is grappling with the costs of supporting this vulnerable workforce. Many workers lack social benefits due to residency rules and informal employment, and the real estate slowdown has resulted in fewer projects and less work. As a result, many aging construction workers are left with little financial security and are forced to continue working despite their age.

via NPR|

#aging-workforce #china #construction-industry

work-and-retirement2 years ago•5 min saved

"Working Well Past Retirement: Inspiring Stories of 90s and 100s"

More Americans are working past the age of 75 due to longer life spans, changing attitudes about retirement, and insufficient savings. The Bureau of Labor Statistics reports that the share of people over 75 working in the U.S. has increased from 5% in 2002 to 8% in 2022, with projections of 1 in 10 people over 75 working by 2032. Three individuals in their 90s shared their advice for building a long and fulfilling career, which includes turning hobbies into careers, investing in relationships at work, and working with people you love. They emphasize the importance of staying active and enjoying what you do, as retirement isn't always easy.

via CNBC|

#aging-workforce #career-advice #elderly-workers

labor-market2 years ago•0 min saved

Skilled Trades Face Labor Shortage as Workforce Ages

A shortage of millwrights in a Canadian province has highlighted the urgent need to expand recruitment in skilled trades. The Carpenter Millwright's College reports high demand for skilled trades workers, with waitlists for industrial mechanic and carpentry programs. The aging workforce is a contributing factor to the shortage, with the average age of union members being in the mid-50s. There is also a shortage of industrial mechanics, welders, carpenters, scaffolders, and millwrights to fill the available jobs.

via VOCM|

#aging-workforce #industrial-mechanics #labor-market

business2 years ago•11 min saved

Rupert Murdoch's Legacy: A Century-Long CEO and Media Savior

Rupert Murdoch's retirement as chairman of Fox News and News Corp has sparked discussions about the age of CEOs and their ability to lead. With the average U.S. life span increasing and retirement age rising, older workers are staying in their jobs longer. While some argue that age brings experience and wisdom, others worry about the potential decline in performance and the lack of opportunities for younger leaders. The debate highlights the need for a conversation about age and leadership, as well as the importance of accommodating and empowering older leaders while also fostering diversity and mentorship between generations.

via Fortune|

#aging-workforce #business #ceos

workforce-and-employment2 years ago•2 min saved

The Rise of Older Workers: A Shift in the Workforce Landscape

A global study by Bain & Company predicts that by 2031, older workers will make up more than a quarter of the workforce in the Group of Seven countries, with a total of 150 million jobs shifting to workers over the age of 55 by 2030. This trend is not limited to developed markets, as China's elderly population is also expected to double by 2050. The study highlights the need for companies to invest in recruiting, retaining, and reskilling older workers, as their motivations and priorities differ from younger workers. To tap into the motivations of older workers, companies should design workplace experiences that offer interesting work, autonomy, flexibility, and opportunities for skill development.

via CNBC|

#aging-workforce #global-study #older-workers