¶ … Aging Workforce:
The issue of an aging workforce is one of the major growing challenges that organizations and industry experts face. This issue not only presents an actual safety challenge but also a huge opportunity to address other socio-economic forces. For employers seeking to maintain a top-notch workforce, the issue of aging workforce is not only a challenge but an opportunity for employees who may want to earn extra income in retirement. In the United States, the aging workforce accounts for one-third of the country's workforce and are set to retire by the end of this decade (Reeves, 2005). However, the country faces a challenge regarding the lack of enough younger employees to replace the aging workforce. Consequently, industry experts need to radically rethink about recruitment, retention, adjustable work plans, and retirement due to labor shortages in major industries.
Dealing with Labor Shortages:
According to Ip (2011), the United States shortage in skilled employees can be adequately addressed through leveraging the aging workforce (p.27). Leveraging the aging workforce is regarded as a means of engaging these employees properly in order to provide significant solutions and cost savings. Actually, the failure to properly engage the aging workforce will contribute to numerous threats o future growth and productivity in the country. The aging workforce is usually viewed as an issue to be addressed rather than asset to leverage.
Unlike younger workers, the aging workforce tends to be more motivated and focus on quality despite taking fewer days off from work. The intrinsic motivation and focus on quality by the aging workforce is attributed to fact that these people have mastered the mechanisms of the workforce over time. Leveraging the aging workforce is seen as an effective way of addressing labor shortages in the United States because the actual effects of retaining experienced employees are all positive. The labor shortage in skilled workforce can be dealt with adequately through leveraging the aging workforce because there are relatively fewer younger workers entering the workforce. The...
The demographic tide of Canada is becoming a nagging problem with a dwindling number of active workforce having to bear the increasing burden of quality universal healthcare. However, the problem is that the prospect of a slow growth in the labor market would only imply a slower growth of the general taxpayers and hence raising the tax is not a simple solution to managing the fiscal pressures. As the
S." (Liu, 2008) the actual solution to the challenges facing the health care system in the United States is one that makes a requirement of three components: implementing tort reforms; mandating the use of best practices; and driving systemic process improvement. (Liu, 2008) This report states that the threat of litigation gets in the way of health care delivery in that is "causes providers to hide problems and engage in unnecessary procedures
How Managers Can Address Risks of an Aging Workforce Abstract This paper examines the effects of the aging workforce on companies and how managers should address the issue. It identifies the risks associated with an aging workforce, looks at the challenges that this issue brings for managers, offers solutions and recommendations for what managers can do to address these risks and challenges, discusses ergonomic issues and how to face resistance within the
Demographics are changing rapidly and dramatically in the United States. People are living longer, but the ethnic composition of the senior age cohort is not the same as it is for the young. While the young generations are becoming more ethnically diverse by the minute, the older generation remains more proportionately white. This demographic shift is being referred to as the “gray and the brown,” with seniors and young brown
……How Veterans Can Make a Positive Impact on Workforce Development in the Construction IndustryABSTRACTThe U.S. construction industry faces significant workforce development challenges, mostly in terms of labor shortage. Addressing this challenge is important for meeting the present and future needs of the industry. Hiring veterans is a valuable way through which the construction industry may overcome the workforce development challenges it faces. In spite of the several initiatives introduced by
Aging Workforce The workforce in America is rapidly aging. This rapidly aging workforce creates challengers for organizations that must manage an aging workforce. The purpose of this discussion is to explore the challenges of managing an aging workforce within any given organization. This topic is of particular interest because many older baby boomers are retiring while other are choosing to work well passed the retirement age and managers must devise ways
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