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Aging Population in Modern Workforce

In: Business and Management

Submitted By lourdesmassa
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Aging Population in Modern Workforce
Southern New Hampshire University
September 13, 2014

Abstract
This paper refers to the changes current workforce relationships have to go through, due to the constant aging of their employees and population in general. I will discuss the changes that are most likely to occur, how the aging of the workforce affects managers and companies, what policies eliminate age discrimination, the importance of diversity in workforce, and what actions companies can take into consideration in order to maintain a well-balanced, diverse and satisfied workforce.

Aging Population in Modern Workforce

Changes in Workforce: Yesterday, Today and Tomorrow
Companies and workers have been around for centuries, and the labor force has had a gradually but significantly change. It wasn’t until the 1940, after World War II, when the workforce started to change; 28% of American women was in the workforce (United States Department of Labor, n.d), and the number of workers per retiree was 45/1 (ncpa.org, 2012). Now, the women workforce comprises 57.7 % (Bureau of Labor Statistics, 2013) of the USA workforce and the seniors (65 +) consist of a 25% of the USA workforce (Gallup Economy, 2014).
Over the next 5 to 10 years, we are expecting to experience an increasing rate of the senior population in the workforce. “This group is expected to be nearly 40 million in 2018, an increase of 43%. As a result, this age cohort will compose nearly a quarter of the labor force in 2018” (see table 1) (bls.gov, 2009). Changes Likely to Occur in Employment Relationships
As society changes, the employment relationships changes too. There are many changes that could occur due to the increasingly number of elderly in the population. The more likely to occur are the following (Oxford Journals, 2014): 1. Project expenditures are likely to increase, like...

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