Employers must prepare for an aging workforce – or face unexpected costs | Gene Marks

Strategies for transitioning older workers towards retirement such as flexible hours and positions are critical for small businesses

The American workforce is getting older. In fact, by 2024 the Bureau of Labor Statistics estimates that 25% of the US workforce will be composed of workers over the age of 55, and a third of those workers will be older than 65. The reasons, for the most part, are due to the country’s overall ageing population as a result of declining birth rates and better life expectancy. But there’s also something else going on. Employees are not only working longer because they can. They’re working longer because they have to. Retirement savings are just not keeping up.

Related: Will there be a recession? What small business owners can expect in 2019 | Gene Marks

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from US news | The Guardian http://bit.ly/2QUy2Je