Purchase Solution

Managing Older Employees

Not what you're looking for?

Ask Custom Question

Does society need to rethink the traditional notion of retirement, and if so, what strategies can managers implement in an effort to manage effectively their older employees? Lastly, can employing older workers provide a competitive advantage?

Purchase this Solution
Solution Summary

The traditional notion of retirement in society are examined. The effort to manage effectively their older employees are given.

Solution Preview

Yes, society will have to rethink traditional retirement. Long gone are the days of workers spending 30 to 40 years working and retiring and living off their pension or social security. There are very few companies that still offer a pension to its workforce. Also, social security was intended to provide a foundation to retirees that would be supplemented by other retirement funds or a social net to help the working poor at the time of their retirement. In 2012, the maximum monthly benefit at full retirement age of 66 was $2,513. The average monthly benefit for retired workers in 2011 was $1,241. Again, social security was providing a good foundation or base. To make matters worse, the Center of Retirement Research at Boston College found that only 42 percent of workers between the age of 25 and 64 participate in any type of company sponsored retirement plan. Another example is that the median 401K and IRA balances with households lead by a person between 55 and 64 was $120,000, which would only generate $400 ...

Purchase this Solution
Free BrainMass Quizzes
Balance Sheet

The Fundamental Classified Balance Sheet. What to know to make it easy.

Transformational Leadership

This quiz covers the topic of transformational leadership. Specifically, this quiz covers the theories proposed by James MacGregor Burns and Bernard Bass. Students familiar with transformational leadership should easily be able to answer the questions detailed below.

Motivation

This tests some key elements of major motivation theories.

Lean your Process

This quiz will help you understand the basic concepts of Lean.

IPOs

This Quiz is compiled of questions that pertain to IPOs (Initial Public Offerings)

View More Free Quizzes
Related BrainMass Solutions

  • Issues in Management: Diversity and The Aging Workforce

    Looking at the type of work older employees do, we notice that older employees work less hours per week, and less weeks per year when compared with younger generations.

  • Equal Employment Opportunities

    A key objective of the law is to prevent financially troubled companies from singling out older employees when there are cutbacks.

  • Diversity and older workers

    341544 Diversity and older workers If you were a hiring manager of a company what would you do differently to recruit and retain older workers? How would you improve the managing of age diversity within your company?

  • Managing different workplace scenarios

    The solution explains how a manager can handle older employees. It suggests a strategy for dealing with older employees who have a problem reporting to someone younger.

  • When managing diversity, consultants need to consider the or

    451921 When managing diversity, consultants need to consider the organizational goals for this issue.

  • Case Study: Downsizing: Anathema to Corporate Loyalty?

    The third alternative is to encourage older employees who have accumulated several weeks of unused vacation. The employees could be encouraged to take unpaid leaves of absence. This would create areas where the new recruits could be deployed.

  • Affirmative Action Issues

    Older employees are punctual, dedicated, and honest. Older workers are good listeners. In addition, older workers make the work place more focused, attentive, and based on detail. Older workers are mature.

  • Employee Diversity Elements

    There are less young people entering the workforce and more older people staying in the workforce. This creates a need for organizations to change the way they manage employees, and create more flexible positions.

  • Marketing Diversity

    Case studies of managing diversity 2. Managing diversity training and prevention 3. Writing policy for managing diversity for the workplace and employee handbook 4. Investigating managing diversity complaints.

View More Related Solutions