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Capitalizing on the New Mature Workforce - Assignment Example

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The paper “Capitalizing on the New Mature Workforce” makes an analysis of the growing decrease in the number of young workers in contrast to the young boomers of the 20th century. The author points out that in the coming years the workforce will primarily constitute of aged baby boomers…
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Capitalizing on the New Mature Workforce
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Download file to see previous pages This article focuses on such strategies which include forecasting the workforce aging trends, improving the ability to recruit a mature workforce, provision of flexible retirement programs with suitable benefits and providing a congenial work culture for the older workforce. Only such a reworked workforce strategy will help the progress of any organization in the coming years.
The youngest working class of the present generation falls under the age group of 40 years while the oldest are in their early 60’s. Studies also reveal that the 18-34 age group population is expected to grow only by 3% over the next decade. The population which is expected to show substantial growth will be those aged 55 years or above which would result in a shortage of several millions of workers. The human resource department in many organizations is already feeling the pinch as hiring the right candidates for a job has become increasingly difficult. But this study analysis that despite the difficulties faced by the organization in hiring the right talent they continue to follow hiring strategies that target the younger generation of workers which is becoming increasingly scarce. Additionally, when the mature workforce leaves the company after their service they carry along with them all their valuable contacts and expertise which the younger working class will definitely lack. Hence recruiting and retaining the mature workforce would be a more viable option in the given conditions. Thus the present study makes an analysis of suitable policy changes which are required to be undertaken by companies to utilize the potential of the mature workforce as long as they are physically and mentally active. ...Download file to see next pagesRead More
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