Examining The Aging Workforce And Its Impact On Economic And Social Development

"This comprehensive and timely publication aims to be an essential reference source, building on existing literature in the field of the aging workforce for the economic and social development of countries while providing additional research opportunities in this dynamic and growing field. Thus, the book aims to reflect on this critical issue, increasing the understanding of the importance of the Aging Workforce in the context of the Business and Management Area, and providing relevant academic work, empirical research findings, and an overview of this relevant field of study. It is hoped that this book will provide the resources necessary for policymakers, academicians, interdisciplinary researchers, advanced-level students, technology developers, managers, and government officials to adopt and implement solutions for a new social and economic reality with a direct impact on the workforce derived from the aging population"--

The phenomenon of aging results from the transition from a demographic model whose birth and mortality rates are exceptionally high to another model in which both demographic factors are increasingly lower. Today’s organizations will encounter issues related to the aging of their workforce. It is necessary to consider and implement new strategies through age management that can contribute to society at various phases of life. Examining the Aging Workforce and Its Impact on Economic and Social Development builds on existing literature in the field of the aging workforce for the economic and social development of countries while providing additional research opportunities in this dynamic and growing field. This book reflects on this critical issue, increasing the understanding of the importance of the aging workforce in the context of the business and management area, and providing relevant academic work, empirical research findings, and an overview of this relevant field of study. Covering topics such as hiring practices, workplace age diversity, and retention practices, this premier reference source is an excellent resource for government officials, business leaders, human resource managers, sociologists, students and educators of higher education, librarians, researchers, and academicians.

This volume critically reviews the phenomenon of the aging workforce, adopting an interdisciplinary perspective that examines the challenges raised on an individual, organizational and societal level. Core issues framing the concept of the aging workforce and its consequences are presented by a team of leading contributors from around the world.

The United States is in the midst of a major demographic shift. In the coming decades, people aged 65 and over will make up an increasingly large percentage of the population: The ratio of people aged 65+ to people aged 20-64 will rise by 80%. This shift is happening for two reasons: people are living longer, and many couples are choosing to have fewer children and to have those children somewhat later in life. The resulting demographic shift will present the nation with economic challenges, both to absorb the costs and to leverage the benefits of an aging population. Aging and the Macroeconomy: Long-Term Implications of an Older Population presents the fundamental factors driving the aging of the U.S. population, as well as its societal implications and likely long-term macroeconomic effects in a global context. The report finds that, while population aging does not pose an insurmountable challenge to the nation, it is imperative that sensible policies are implemented soon to allow companies and households to respond. It offers four practical approaches for preparing resources to support the future consumption of households and for adapting to the new economic landscape.

The aging population of the United States has significant implications for the workforce - challenging what it means to work and to retire in the U.S. In fact, by 2030, one-fifth of the population will be over age 65. This shift has significant repercussions for the economy and key social programs. Due to medical advancements and public health improvements, recent cohorts of older adults have experienced better health and increasing longevity compared to earlier cohorts. These improvements in health enable many older adults to extend their working lives. While higher labor market participation from this older workforce could soften the potential negative impacts of the aging population over the long term on economic growth and the funding of Social Security and other social programs, these trends have also occurred amidst a complicating backdrop of widening economic and social inequality that has meant that the gains in health, improvements in mortality, and access to later-life employment have been distributed unequally. Understanding the Aging Workforce: Defining a Research Agenda offers a multidisciplinary framework for conceptualizing pathways between work and nonwork at older ages. This report outlines a research agenda that highlights the need for a better understanding of the relationship between employers and older employees; how work and resource inequalities in later adulthood shape opportunities in later life; and the interface between work, health, and caregiving. The research agenda also identifies the need for research that addresses the role of workplaces in shaping work at older ages, including the role of workplace policies and practices and age discrimination in enabling or discouraging older workers to continue working or retire.

The aging of baby boomers, along with the predicted decrease of the available labor pool, will place increased scrutiny and emphasis on issues relating to an aging workforce. Furthermore, future economic downturns will place strong pressure on older workers to remain in the workforce, and on retirees to seek employment again. Aging and Work in the 21st Century reviews, summarizes, and integrates existing literature from various disciplines with regard to aging and work. Chapter authors, all leading experts within their respective areas, provide recommendations for future research, practice, and/or public policy. This definitive source comprehensively reviews: trends and implications regarding the demography, income, and diversity of the aging workforce; the issue of age bias in the workplace; job performance, work-related attitudes, training and development, and career issues of older workers; and topics of age and occupational health, technology, work and family issues, and retirement. The intended audience is advanced undergraduate and graduate students, as well as researchers in the disciplines of industrial and organizational psychology; developmental psychology; gerontology; sociology; economics; and social work. Older worker advocate organizations, like AARP, will also take interest in this edited book.

Global aging, technological advances, and financial pressures on health and pension systems are sure to influence future patterns of work and retirement. This handbook offers an international, multi-disciplinary perspective, examining the aging workforce from an individual worker, organization, and societal perspective.

Exploring why governments, employers, and communities must address the needs of aging employees, this guide examines the impact of older workers on the economy, businesses, communities, and family life. Business strategies to meet the imminent challenges surrounding the aging workforce are discussed, as are the greater health care needs of the elderly, decreasing public and private investments, and potential skill shortages as baby boomers reach retirement.