The Aging Workforce: Business Strategies Used by Employers

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THE AGING WORK FORCE: BUSINESS STRATEGIES

The Aging Work Force: Business Strategies Used by Employers

S. L. Lemmon

Texas A & M University Commerce

Table of Contents

Introduction………………………………………………………………………………………3
Employee Benefits………………………………………………………………………………..3
Training an Aging Workforce…………………………………………………………………….5
Human Capital…………………………………………………………………………………….6
Summary…………………………………………………………………………………………..7
References…………………………………………………………………………………………8

The Aging Work Force: Business Strategies Used By Employers
Introduction

Each year the Social Security Administration mails an annual statement to individuals that provides information pertaining to the benefits they will receive at retirement. Armed with
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As a result of the aging worker having to pay an increased portion of their health insurance premium, it is anticipated that retirement will seem less attractive when confronted with the prospect of not having any health insurance at all.
For the most part, some aging employees will continue working just because they will receive health insurance as part of a benefit package. When purchased privately, health care insurance may be too costly for many retirees to afford. In addition to the cost, many aging workers may have chronic diseases or illnesses that will make them ineligible for coverage. Finally, since Medicare will not provide any type of coverage until an individual reaches the age of 65, aging workers know that if a company offers health insurance benefits to its employees, they must be provided covered no matter what their age or health history.
Training an Aging Workforce

Training an aging work force is another of the challenges businesses currently face and will continue to deal with over the course of the next decade. The types of training aging employees require is not only to keep skills current in order to perform everyday tasks, but to also provide new career paths and new skills that are necessary due to changing technology (Rosen & Jerdee, 1990). Although the cost associated with training is currently the burden of the employer, it is considered to be an investment in improved performance, productivity, and employee moral (O’Keefe,

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