By The Next Decade, 25% Of US Workforce May Be 55 Or Older
HRDIVE, Thursday, July 20,2023
Employers can prepare for an aging workforce by developing programs that effectively recruit, reskill and integrate older workers, a Bain & Co. report says.
By 2031, workers 55 and older will comprise 25% or more of the workforces in G7 countries (U.S., Canada, U.K., Germany, Japan, France and Italy), a nearly 10% jump from 2011, according to a July 13 report from global consultancy firm Bain & Co. Across the world, 150 million jobs will shift to older workers by the next decade - a figure almost equal to the entire working population of the U.S., the report found.
Despite the projected shift, 'we've found it rare to see organizations put programs in place to fully integrate older workers into their talent systems,' James Root, Bain & Co. partner and co-chair of its think tank, Bain Futures, stated in a press release. The report outlines three steps companies can take to recruit, retain and integrate older workers into the workforce.