Close Close
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards

Life Health > Life Insurance

Report: Aging Workforce Leads To Little Action

Your article was successfully shared with the contacts you provided.

Large companies are not doing much to respond to the fact that employees are getting older.

Consultants at Ernst & Young L.L.P., New York, have to come to that conclusion in a summary of results from an informal survey of Fortune 1000 company human resources executives.

Even at companies with formal succession-planning programs in place, 75% of the programs focus only on senior managers, the consultants report.

Only 9% of the companies surveyed have phased retirement programs in place, only 29% are considering setting up phased retirement programs, and 52% say they already are seeing increases in the cost of hiring and training new staff members, the consultants report.

About 54% of the executives said they are not changing benefits and compensation programs or planning changes to address the risks associated with the aging of the work force, consultants report.


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.