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The Aging Workforce

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The Aging Workforce
The Aging Workforce

Executive Summary
We have come to the conclusion that the ageing workforce still have many barriers to overcome such as: training, health and safety, age discrimination; and although employers will experience, the additional costs to Group benefit – health, dental and pension plans. We must keep in mind that, to spite some barriers and mistaken beliefs regarding the older workers, they have proven to be valuable Human Resources in today’s labour market.
Imagine someone who worked for 40 years as a productive engineer, or marketing executive, or highly involved community leader. They do not to retire! They want to rewire!
Millions of people over the age of 50 want to know what they can do to archive a future they can look forward to. Therefore, they some postpone retirement.
It is the responsibility of everyone, at all levels: Executives, managers, HR, trade unions and the older workers themselves, to create the conditions in which the aging workforce can flourish. The aging population in Canada will have an influence on economic growth as retiring baby boomers and low fertility rates leads to a diminished workforce. With improvements in health and increasing long life, mature workers are able to not only stay employed longer, but may also consider more active retirement options. The public and private sector employers are vigorously examining the labour market participation of mature workers and developing strategies to influence their knowledge and skills more effectively1
The Canadian labour market is going through a significant demographic shift. Its labour force is becoming much older, more diverse and will grow slower than in the past as the economy absorbs a wave of baby boomers going into retirement. Currently, among all Canadians that are employed, 1 out of 6 is 55 years of age and older, up from 1 in 10 in 2000. In 2011, the first baby boomers turned 65 years of age. By year 2020, all baby boomers will be 55 years of


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