How Older Adults Can Reinvigorate the Workforce

Findings that gross domestic product growth is decelerating in U.S. states where the aging population is expanding faster calls attention to the possibility of tapping seniors to revitalize the workforce, reports BBC News . Harvard Medical School's Nicole Maestas speculates that the decline may be less due to aging baby boomers losing competence, and more because of the loss of retirement-age employees who are still highly productive. Moreover, no conclusive evidence exists to indicate that older workers are innately less productive. Maestas suggests as skilled older workers leave the economy, younger ones inevitably replace them, and the youngest are not necessarily the most productive. In addition, the most productive members of society tend to be more affluent and better at planning for retirement. "Economists think of leisure as something that people want to consume more of, the richer they get," Maestas says. "It makes sense that as people earn more and more and more, they might choose to retire earlier, in order to consume more leisure." Boston College's Cal Halvorsen adds that employers should eliminate ageist attitudes, and see the opportunity in a multi-generational workforce, noting "there's research . . . which suggests that age diversity might actually stimulate and support creative thinking and innovation."