Tailoring your benefits strategy for an aging workforce and why it’s good for business

Abstract

Purpose

The purpose of this paper is to help human resources professionals tailor their benefits strategies to accommodate, recruit and maintain an experienced, talented, aging workforce.

Design/methodology/approach

Findings are based on the author’s professional experience in the employee benefits industry and recently published research from the Society for Human Resource Management and other industry and government sources.

Findings

By effectively tailoring benefits packages for their employees, companies can retain their older workers and capitalize on their knowledge and experience in ways that benefit their works and the business’ financial bottom line.

Originality/value

Individuals aged 55 and older will continue to comprise a significant portion of the workforce for the foreseeable future. This paper describes several strategies that companies can use to address the unique needs and challenges these workers face to benefit from their valuable skills and expertise.

Citation

Frend, A. (2016), "Tailoring your benefits strategy for an aging workforce and why it’s good for business", Strategic HR Review, Vol. 15 No. 6, pp. 258-261. https://doi.org/10.1108/SHR-08-2016-0067