Challenges and Opportunities
New Horizons in Management series
Edited by Ronald J. Burke, Cary Cooper and Alexander-Stamatios Antoniou
Chapter 17: Getting a good fit for older employees
There is an abundance of research that indicates that today’s older adults anticipate extending their labor force participation beyond the traditional retirement years of 62–65 years. In 2002, the labor force participation (LFP) rate in the United States was 61.9 percent among 55- to 64-year-olds and 20.4 percent among 65- to 74-year-olds. By 2012, those rates were 64.5 percent and 26.8 percent respectively. It is anticipated that, by 2022, the LFP rates will be 67.5 percent for those aged 55–64 and 31.9 percent for people aged 65–74 (Bureau of Labor Statistics, undated). Furthermore, surveys find that almost half (47 percent) of workers aged 50 and older say that it is very likely that they will continue to work (either part or full time) during “retirement,” and another 35 percent say it is somewhat likely (Benz et al., 2013). (See also AARP, 2013; Bureau of Labor Statistics, 2014; Dalirazar, 2007.)
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