How companies must adapt for an aging workforce

The world’s population is growing older, taking us into uncharted demographic waters. By 2050, over one-fifth of the U.S. population will be 65 or older, up from the current figure of one-seventh. Business has been slow to plan for population aging, but delay won’t be an option for much longer. Responding effectively to longer lifespans will require changes in business practices and public policies. Allowing people more freedom of choice regarding the timing of retirement is a good start. Next, employers need to recognize the increased value that older workers can bring, and allow for flexible schedules that will help entice older workers to stay on.