Retention of Aging Employees and Organizational Performance: Comparative Study EU Countries and US

Both the developed and the developing countries face problem due to aging employees (those aged 50 and above). This paper address a comparative study of European Union countries and US on the importance of aging employees to current and future labour markets, relatively about the ways in which emplo...

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Bibliographic Details
Main Authors: Shah, Binal, Gregar, Ales
Format: Conference Proceeding
Language:English
Subjects:
Age discrimination
Age groups
Aging
Baby boomers
Brain drain
Demographics
Employees
Employers
Employment
Financial performance
Knowledge management
Labor force
Labor shortages
Life expectancy
Occupations
Older workers
Participation
Perceptions
Retention
Retirement policies
Stereotypes
Studies
Training
Trends
Work environment
Workforce
Workforce planning
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Summary:Both the developed and the developing countries face problem due to aging employees (those aged 50 and above). This paper address a comparative study of European Union countries and US on the importance of aging employees to current and future labour markets, relatively about the ways in which employers' attitudes, policies and practices influence their recruitment and retention. It is essential to retain the aging workforce in an organization in order to avoid the labour shortages and also to retain the knowledge and expertise of the employees. Strategies such as workforce development, altered workforce policies and practices can be implemented to retain the senior employees in an organization. Training can be provided to meet labour shortage and ensure professional development among the senior employees. Organizations need to develop a deeper understanding of where expertise resides and how it is retained. This paper present the retention processes of an individual expert.
ISSN:2048-9021
2048-903X