Why The Aging Workforce Has Hurt Productivity - 1339 Words

Abstract In years past the older generation was thought of being less productive, surveys provide the evidence that puts this in perspective Within their data one can find the importance of the older workforce when it comes to the labor market. It is relevant to note that compared to the years past the older workforce of today is well educated. Looking at their higher earnings and retiring later this can be seen as the explanation for this fact. It has also been proven that a more productive worker will remain in the labor force longer than those who are not as industrious. There has been little evidence that those considered as members of the aging workforce have hurt productivity. Introduction Observing the influence of†¦show more content†¦Mature, well-informed, and farther qualified workers are usually more fruitful and earn better hourly earnings than youthful, not as knowledgeable, and have a reduced amount of experience. These assertions can be verified in analyses of practicing workers, as well as the earning histories of Social Security over a lifetime (Bosworth, Burtless, and Steuerle, 2000). New challenges are happening due to the fact there has been a jump in the life expectancy numbers, causing many over the age of 55 to delay their retirement. As the populace grows older, it calls for the work correlation to go forward. Occupation tasks as we know them may have to be re-discussed or adjusted. In the article â€Å"Today is the Tomorrow-You Worried About Yesterday: Meeting the Challenges of a Changing Workforce† author Nancy B. Kiyonga touches upon what she sees as issues facing those within Human Resources dealing with the aging workforce. The article explains how she feels that the practices of Human Resource managers in organizations need to come to the realization that the aging workforce is not only a challenge but an opportunity as well. There is a need to strategize and come up with ways to retain this population, reviewing â€Å"the role of human resources management in workforce and succession planning† and the â€Å"status of workforce and succession planning efforts today† (Kiyonaga, 2004). Here s what most executives see when