Dive Brief:
- Of any U.S. city with a population bigger than 200,000, Plano, Texas, is home to the most working seniors, according to data compiled by Provision Living, a company that runs senior living centers. A quarter of the city's citizens ages 65 an older are still employed, its research found. Washington, D.C.; Anchorage, Alaska; Minneapolis and Garland, Texas, round out the top five cities with the biggest populations of working seniors.
- At least 20% of the senior populations in Provisions Living's top 25 cities were still employed. Provision Living said it could not determine why so many seniors in these cities work, but it could be because of financial situations or because they enjoy the work they do.
- The senior workforce in Durham, North Carolina, experienced 109% growth since 2009. In Plano and Austin, Texas, the senior workforce has grown at 99% and 95%, respectively, Provision Living found.
Dive Insight:
In today's multigenerational workforce, employers are stretched to meet the needs of all workers. Even as members of Gen Z enter the workforce, the number of older workers continues to grow; the U.S. Department of Labor estimated that 25% of the workforce will be 55 or older by 2024.
Employers face no easy task in managing so many generations at one time. Many workers younger than 50 view the country's aging workforce negatively, according to a poll from the Associated Press. Considering such research, it may not come as a surprise that age discrimination continues to cause problems for employers and older employees. Despite this, baby boomers are interested in working jobs in construction or transportation, according to Indeed.
As much as businesses need to be prepared for older workers to stay, they may want to gear up for workers to retire, as well. Research from Willis Towers Watson revealed only half of employers said they have a good understanding of when employees will retire, even though 83% of them said a significant portion of them are nearing or at retirement age. As employers consider how to prepare their workforces for retirement, they might consider offering financial wellness benefits that help workers save enough before they near retirement, experts previously told HR Dive.
