Roughly 1 in 5 Americans over 65 were employed in 2023, four times the number in the mid-80s. Employers are gradually recognizing the value of older workers ...
According to many employers, 62 is the cutoff for working, and 58 for hiring.“Many employers are focusing on diversity, equity, and inclusion, but they may be overlooking age in their hiring efforts,” said Catherine Collinson , CEO and president of Transamerica Institute and the Transamerica Center for Retirement Studies, which conducted the
"What has been left unaddressed is how we are going to ensure that this part of the workforce is prepared for the never-ending changing nature of work," Ramona Schindelheim,More than half of employers say that their company culture "emphasizes professional growth and development among employees of all ages, including those age 50 and older," per the Transamerica data, yet a fraction — 2 in 10 — emphasize it a "great deal.
“Retaining and hiring older workers has become critical to our organization because it is more difficult in the rural environment to find qualified workers,” Suzanne Cooner, 68, CEO of “In the hiring process, for example, we are now much more thoughtful about really whittling down our list of required qualifications. We may not need new employees to arrive with every skill set, so long as they are eager to learn,” she said.Then again, while almost 9 in 10 employers consider themselves to be age-friendly, according to the Transamerica report, fewer workers agree: Only 7 in 10 workers consider their employers to be age-friendly.
Nonetheless, the majority, roughly 6 in 10 employers, don't offer a formal phased retirement program for workers who want to transition into retirement. Kerry Hannon is a Senior Columnist at Yahoo Finance. She is a career and retirement strategist, and the author of 14 books, including "Click here for the latest personal finance news to help you with investing, paying off debt, buying a home, retirement, and more
Older Workers Transamerica Pew Research Center Catherine Collinson Employers Transamerica Center For Retirement Studies Retirement
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