Best Practices

Strategies to Respond to Aging Workforce: Succession Planning, Phase Retirement, Caregiver Leave

April 2019

The U.S. population – and the nation’s workforce – is aging. According to the US Census, from 2005 to 2035, the population of individuals over age 65 will double to more than 83 million. From 2015 to 2030, the population under age 18 is projected to grow by only 5%, while the population age 65 and over is projected to grow by 55%.

The nature of retirement is changing, and many workers do not wish to experience a sudden end to work, followed by the equally sudden onset of full-time retirement. Instead, many workers wish to ease into retirement, transitioning out of the workforce with a reduced workload.

In this report, key statistics and trends are identified, strategies and tips are provided, and case study examples of what other companies are doing to prepare for an aging workforce are presented.

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