An uncapable workforce reason #1
BLS projects working adults 55-64 years old, will increase by 36% between 2006-2016. The baby boomers, although close to or at retirement age are not ready for retirement. Studies find that less than 30% of Americans in this age bracket have less than $10,000 in savings. With the recent financial crisis, poor money management practices, and lack of strategic financial planning, people are working longer. Industries with heavy labor positions and employers that have a high level of incidents with repetitive motion injuries have increased risk. The sons and daughters of the greatest generation might end up being the generation of greatest frustration for employers. The solution is not as simple as “escorting the elderly out the door”. Due to EEOC guidelines and FEHA (in California) employees over 40 are a protected class, however, employers who turn a blind eye to the aging workforce are likely to get knocked out by worker’s comp claims.




1 year ago