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Lack of action for aging workforce
Ottawa—A new study by the Conference Board of Canada reveals most companies face labour shortages over the next few years, due to the aging workforce.
The survey, conducted in 2005, involved 137 corporate executives. It showed 23 per cent of respondents are already feeling the effects of an aging workforce on their organization. Four in five executives (80 per cent) believe they will be affected over the next several years. Even so, few are taking action to prepare for the shortage.
"Canadian organizations are aware that by 2015, there will not be enough qualified people to go around," said Owen Parker, senior research associate with the Conference Board.
"For the most part, they are doing little to tackle the problem. Employers will have to develop more effective ways of managing their aging workforce to maintain operational continuity."
Possible solutions include retention programs to keep older workers; recruitment strategies targeted at retirees who may be looking for new employment; and offering flexible hours and more financial support.
Yet, according to a report in the Globe and Mail, current pension regulations impede phased retirement programs, and income tax rules are disincentive to working while drawing a pension.
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