Home > All articles Motivation low to recruit and retain older workers What are organizations doing to prepare for an aging workforce? Not a lot, according to a global survey of more than 28,000 employers across 25 countries and territories. Employers were asked 2 questions: (1) A large percentage of the population is aging and will be eligible for retirement soon, which is expected to create talent shortages for employers over the next 10 years and beyond. In light of this challenge, has your organization developed a strategy to recruit older workers (50 years and older) into your organization? (2) Has your organization developed a strategy to retain older workers past retirement age? The findings showed that 14% of employers worldwide had strategies in place to recruit older workers, and 21% had implemented retention strategies to keep them participating in the workforce. Recruitment strategies targeting older workers were highest in Singapore (48%), Hong Kong (24%) and Austria (21%). Strategies to retain older workers were most frequently found in Japan (83%), Singapore (53%), South Africa (34%) and New Zealand (33%). The focus on workforce retention in Japan and Singapore is likely due to government legislation and incentives that encourage keeping older adults employed. "Many employers have not yet recognized the need to forecast the percentage of their workforce that is set to retire in the next 5 to 10 years and planned ahead to stem the potential loss of productivity and intellectual capital that will occur when those people walk out the door," said Jeffrey A. Joerres, chairman and CEO of Manpower Inc. "A surprisingly large number of organizations are still viewing upcoming retirements as cost-savings opportunities, but this is a dangerous and shortsighted view, as older adults will be relied upon as one of the most important sources of talent for the future workforce." Source : http://www.icaa.cc/     By icaa Date 04-05-2007 Print this article | React to this article