Benefits or Drawbacks of Older Adults in the Workforce and Retirement

Benefits or Drawbacks of Older Adults in the Workforce and Retirement

Currently, organizations foresee skills, labor shortages and the impacts of young generations retiring from the work force, and as such organizations are forced to keep the older generation still working. Skills, experience and expertise are retained in the workforce where the number of older generation is greater than the youths. To the woman, retirement brings other approaches of thinking. Apprehension and joy are feelings she usually experiences during this period. The first thing that comes to mind is joy because no person outranking her is giving her anxiety from work. Fear sets in when she starts worrying about how to maintain the lifestyle she was used to. She has various ways and views with which she can use to make money. Gardening is a simple task to keep her active while still keeping herself healthy. Knitting is an excellent relaxation and can be used to make money while still at home. After retiring, she can start a business that she will manage as an alternative of staying idle. This is because a business will provide her with money and keep the mind sharp and healthy. As opposed to the woman who is working at an office, she has the freedom to do what she wishes.

Skills and experience are used to offset a decline in performance by aged workers in order to catch up with the young workers. Mature-aged workers bring more important market intellect in a business thus creating a good market for the company. Initially, companies retired their women in order to bring in younger workers but lately, companies are rethinking their approach on recruitment and training to benefit and provide new challenges for the older women (Potuzak, 2010). This is because they are just as flexible as their young counterparts are and in addition, they are more experienced and highly skilled in their scope of work. I consider that aged women have more comprehension than their young counterparts do hence they posses more skills and intelligence to facilitate the running of the company.

To the man, retiring early has some advantages; he will get the time to explore further the areas that he is not familiar with. He can establish a business from what he had saved in all the years he spent working. The man will get more time to spend with the family and be able to pursue his hobbies, which he had to postpone because of work. Otherwise, he can set up his dream career such as starting a car repair shop or another business. Traditionally, the man retired at an early age but now people are living longer. As a result, the time spent on retirement is also increased. In the society, early retirement is a means of creating job opportunities to the younger individuals. On the other hand, retirement also has a negative aspect to it because people love their work and are not ready to retire. Traditionally, workers retired at a certain age but nowadays people retire at different ages depending on their jobs.

In an organization, mature employees are given the first priorities because they are the backbone of many organizations (Rothwell, 2008). Retiring the older workers would be a big mistake because many of them would go and spend a little time at home then find another organization that they would work for and this would be a loss to the retiring company. Older men are a great tool in the work force because they have all the necessary skills and experience that are in short supply. Strategies are put into place to increase the number of older men who have all the skills that are needed to increase the labor force and potential growth rate. The increased labor force of the older men will have a positive impact on the future growth of the companies. Currently, restructuring the work situation of the older men should be done carefully with sensible modification so that they can perform the job efficiently. In my view, I noticed that early retirement has more reward despite some minor drawbacks. However, I do advocate for retirement because it will create job opportunities to the young age group.

 

References

Potuzak, J. T. (2010). Early retirement – A roadmap to success: A “How-to Book” for Ordinary, Hard Working Folks. Bloomington, IN: Authorhouse.

Rothwell, W. J. (2008). Working longer: New Strategies for Managing, Training, and Retaining Older Employees. New York, NY: American Management Association.

 

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