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November 13, 2014
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Bureau of Labour Statistics (BLS) projects a labour force of 162.3 million individuals in 2012 and expects that the economy will require 165.3 million jobs to be filled.
Beyond the fact that these two numbers are not directly comparable, there are other variables at play that directly impact how organizations will be able to adapt to the changing demographic landscape...
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Some of the factors that organizations can control include retention of older workers, correcting gender imbalance in certain positions, the use of outsourcing and hiring newly arriving immigrants.
Several factors encourage older workers to stay in the workforce longer. The trend toward offering defined contribution pension plans that will pay out more the longer you work, instead of defined benefit plans, which pay out at a specific retirement age, is encouraging workers to stay in the workforce longer...
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