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flexible policies capable of accommodating any situation

  1. Engagement –Employee participation is essential to employee and workforce performance and efficiency. The Sloan Center study cites three critical engagement elements: employee participation in decision-making; opportunities for employees to advance and challenge themselves to develop new skills and competencies; and access to flexible work options such as partial hours and flexible hours (Pitt-Catsouphes M. S.-C., 2007).  Allowing older workers to maybe work ten hour days for only four days a week is important for older employees that may not want to travel from home as often.
  2. Retention – Only one-third of the employers have strategies that encourage aging employees to continue working past the retirement age. An organization’s ability to recognize the strengths and weaknesses of a multi-generational workforce and the company’s ability to manage the dynamics that occur in a diverse work environment lead to a better retention rate of employees of all ages.

For companies to effectively utilize their human capital and resources, the company has to know and understand the status and conditions of the resources by caring and maintaining them to be effective and competitive. Proactively providing policies and programs to accommodate an aging workforce, a company may gain a distinctive advantage over its competition.