There has been lots of debate since the Canadian Federal Budget came out about retirement getting further out of reach for many Canadians and how it will cost more out of individual's pockets to cover retirement costs.
Added to that cost is the fact that we are all living longer. It was assumed in the past that the lengthening of our lifespans in the developed world would slow over time. But that is not happening.
In North America and advanced Europe, lifespans increased by eight years between 1970 and 2010, and are projected to increase by an additional four years through 2050 — that's about five weeks more per year.
At the same time old-age dependency, or the ratio of population over 65 to those in the prime working ages of 15 to 64, is expected to increase from 24 per cent to 48 per cent of the total population in advanced economies by 2050— in other words, roughly one worker for every retired person.
http://www.hrreporter.com/articleview/12812-cost-of-aging-rising-faster-than-expected-worldwide-imf
Given that we are going to live longer and therefore need more money for retirement (money that won't be supplied by the government in the form of increased pensions), we can assume that many of us will have to work longer. Add to that the fact that we will be facing a labour shortage as the boomers exit the work force, we need to make sure there are strategies in place to retain older workers.
Sloan Center on Aging & Work at Boston College released a study titled 'Flex Strategies to Attract, Engage & Retain Older Workers' that looks at how employers can use flexible strategies to retain older workers.
The report found that the employers in its case studies used a variety of flexibility initiatives. Offering part-time positions, hiring retirees as consultants and temporary workers and offering flexible work arrangements are among the most commonly used strategies with older or retired workers.
The report goes on explain how Marriott Hotels, Central Bapist Hospital, and MITRE Corp have successfully used retention strategies to keep their older workers engaged and working.
http://www.shrm.org/hrdisciplines/benefits/Articles/Pages/Flex_OlderWorkers.aspx