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Employer Concerns and Responses to an Aging Workforce

Author

Listed:
  • Robert L. Clark
  • Steven Nyce
  • Beth Ritter
  • John B. Shoven

Abstract

Economist and public policy analysts have devoted considerable research to examining the work and retirement decisions of employees. Much less effort has been spent on understanding the concerns and challenges of employers if their workers delay retirement and remain on the job until older ages. In this study, we report findings from three employer surveys with the objective of learning how organizations are responding to the aging of their workforces. The surveys provide several important observations. First, employer concerns about workforce aging vary considerably across the economy. To some firms, these demographic changes are of immediate concern and are viewed as a significant risk to the organization while other firms remain more concerned about potential productivity and cost effect of an older labor force. Second, most employers expect the importance of workforce aging to increase in the next five years. In response, a significant proportion of organizations are making changes to working conditions and compensation policies. Third, firms remain reluctant to adopt formal phased retirement policies but are more willing to offer part-time employment, return to work, and other policies on a case by case basis.

Suggested Citation

  • Robert L. Clark & Steven Nyce & Beth Ritter & John B. Shoven, 2019. "Employer Concerns and Responses to an Aging Workforce," NBER Working Papers 25572, National Bureau of Economic Research, Inc.
  • Handle: RePEc:nbr:nberwo:25572
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    File URL: http://www.nber.org/papers/w25572.pdf
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    Cited by:

    1. Robert L. Clark & Beth M. Ritter, 2020. "How Are Employers Responding to an Aging Workforce?," NBER Working Papers 26633, National Bureau of Economic Research, Inc.
    2. Steven G. Allen, 2019. "Demand for Older Workers: What Do Economists Think? What Are Firms Doing?," NBER Working Papers 26597, National Bureau of Economic Research, Inc.

    More about this item

    JEL classification:

    • J1 - Labor and Demographic Economics - - Demographic Economics
    • J2 - Labor and Demographic Economics - - Demand and Supply of Labor
    • J23 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Demand
    • J26 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Retirement; Retirement Policies

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