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Addressing a Potential Labor Shortage

Date: 06/27/2006 | Category: Business | Author: developers

Experts are predicting a labor shortage due in large part to aging of baby boomers and fewer young people entering the workforce. According to the Bureau Labor Statistics, by 2014, 21% of the workforce will be 55 or older, compared with 16% in 2005. Many believe that as the gap continues to widen, more and more companies will need to redefine their needs and their definitions of retirement. Long gone are the days when workers retired at age 65.

Older Americans are remaining in the workforce longer and employers are becoming more receptive to hiring 50+ aged employees. To that end, several services have cropped up which specialize in connecting older workers with potential employers., and Senior Job Bank all focus on connecting workers age 50 and older with potential jobs.

Benefits associated with hiring employees age 50 and over:

  1. Twice as likely to stay on the job.
  2. Bring a wealth of experience to their jobs and are industrious.
  3. Typically are flexible regarding their work schedule and pay.
  4. Relate well to customers who are frequently, these days older themselves.

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