The American workforce is graying and working into their
sixties. Enterprises TV looks into the reasons why the older worker is sticking
around.
One of the reasons why people continue to work into their
60s and 70s is because the Social Security Administration raised the age for
receiving benefits to 67 from 62.
Another reason why some people choose to work longer is because company
retirement plans are more defined
for both employer and employee contributions than in previous decades. This
allows the worker more time to save for their after-work life. The 2008
Recession is another reason why older employees are choosing to continue to
work. When older employees lost their jobs during the economic downturn, some
had to rely on savings to make ends meet. Retirement accounts were tapped and
investments lost money. In order to make up for that lost time, Enterprises TV
learns that the older worker went back to work when hired and is planning to
work well into their 70s to pad their finances for the so-called “Golden Years”.
Employers who
hire older Americans gain valuable experience and knowledge which is put to
work for the good of the business. The senior-aged employee is going to be
working for some time. Those who feel they are not “with it” and choose not
interview or hire them are doing a disservice to their business or
organization.
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Visit Enterprises TV on Blogspot
Watch Enterprises TV videos on Daily Motion
View Enterprises TV on Vimeo
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