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Roughly 1 in 5 Americans over 65 were employed in 2023, four times the number in the mid-80s. Employers are gradually recognizing the value of older workers and taking steps to retain them.
In fact, there are only a dozen of our 100 employees who work more than 40 hours a week, and that is by choice. Flextirement has had an incredibly positive impact for our team at Optima Office.
The graying of the U.S. workforce is gaining momentum. A Pew Research survey found nearly a fifth of Americans age 65 and older were employed in 2023, nearly double the three decades prior ...
An alternative motivation theory to Maslow's hierarchy of needs is the motivator-hygiene (Herzberg's) theory. While Maslow's hierarchy implies the addition or removal of the same need stimuli will enhance or detract from the employee's satisfaction, Herzberg's findings indicate that factors garnering job satisfaction are separate from factors leading to poor job satisfaction and employee turnover.
As difficult and controversial as it may seem, retraining older and younger workers alike to prepare them to be part of a changing workforce will have a lasting impact on workers across the globe. Unemployed workers are at significantly greater risk for poor physical health, greater stress, alcoholism, marital problems and even suicide. [11]
Employers want employees to be able to do more work while getting their reserved wages. [9] Obvious incentives would exist for firms to declare shirking when it has not taken place. In the Lazear model, firms have apparent incentives to fire older workers (paid above marginal product) and hire new cheaper workers, creating a credibility problem.