Employing Older Workers

 

In the coming years, our economy will face an increasingly severe shortage of workers as the baby boom generation begins to retire. Small businesses are already having a hard time finding workers that are adequately prepared for the workforce and who possess much-needed math, science, and engineering skills. To narrow the gap between the jobs we need to fill and the number of workers available to fill them, we must convince older workers to remain in the workforce longer.

 

That's why the U.S. Chamber is launching the Alliance for an Experienced Workforce coalition tomorrow in partnership with organizations like AARP.

 

With 40% of people with college degrees set to retire in the next few years, employers -- and especially small businesses -- face a serious challenge. A total of 78 million baby boomers begin to reach retirement age in 2011 and the gap between available jobs and available workers could soon grow to 35 million or more. There just aren't enough workers aged 25 - 54 to fill the jobs formerly held by the baby boom generation.

 

We must work together to create workplaces that are eager and equipped to hire and retain older workers. We can do this by dispelling stereotypes about older workers such as that they aren't as productive as younger workers. According to recent analysis by BusinessWeek, the increased productivity of older Americans and higher labor-force participation could add 9% to our gross domestic product by 2045.

 

Advances in science, medicine, nutrition, and pharmaceuticals are allowing older people to do more and live longer. It's time to create a culture of lifelong learning so that older workers can stay on top of technological changes and work part-time or seasonally.

 

The Chamber is uniquely positioned to help the Alliance achieve these objectives because we reach millions of businesses of all sizes and types, as well as thousands of local chambers of commerce.

 

One of our first projects, in partnership with AARP, will be four regional, one-day employer training workshops, to be held at metro and regional chambers in Connecticut, South Carolina, Kentucky, and Arizona. These workshops, run by the Chamber’s Center for Workforce Preparation (CWP), will educate employers on ways to hire and retain workers age 50 and older. 

 

We no longer have the luxury of neglecting or dismissing older workers. They hold the key to our continued economic growth and prosperity, and the Chamber is firmly committed to engaging and nurturing this valuable resource.

 

Learn more.