Few companies are addressing aging workforce issues yet
Gord Hart, Partner, Employee Benefits & Pensions
Almost 80% of Canadian organizations believe they will face the consequences of an aging workforce within the next five years, but few are taking steps now to address impending retirement-induced labour shortages, according to a Conference Board of Canada survey .
"Canadian organizations are aware that by 2015 there will not be enough qualified people to go around. For the most part, they are doing little to tackle the problem," said Senior Research Associate, Owen Parker. "Employers will have to develop more effective ways of managing their aging workforce to maintain operational continuity."
Based on the survey of 137 corporate executives conducted in 2005, 23% of respondents are already feeling the effects of an aging workforce on their organization, and four in five believe they will be affected within five years. The findings are published in a briefing, Too Few People, Too Little Time: The Employer Challenge of an Aging Workforce.
One source of labour is older workers, yet the survey found that recruitment and retention programs and policies targeted at mature workers are applied inconsistently. Half the respondents indicated that their organizations devote little or no effort to retaining their own older workers, and few employers are looking to attract retirees who may be looking for new employment possibilities.
