Manpower Inc. announced today the results of a survey of more than 28,000 employers across 25 countries and territories that was conducted to determine the extent to which employers have recruiting and/or retention strategies in place for workers age 50 and above. The findings reveal that only 14 percent of employers worldwide have strategies in place to recruit older workers and only 21 percent have implemented retention strategies to keep them participating in the workforce.
"Many employers have not yet recognized the need to forecast the percentage of their workforce that is set to retire in the next five to 10 years and planned ahead to stem the potential loss of productivity and intellectual capital that will occur when those people walk out the door," said Jeffrey A. Joerres, Chairman and CEO of Manpower Inc. "A surprisingly large number of organizations are still viewing upcoming retirements as cost- savings opportunities, but this is a dangerous and shortsighted view, as older adults will be relied upon as one of the most important sources of talent for the future workforce."
The survey found that employers in Japan and Singapore are far ahead of their international counterparts with 83 and 53 percent of employers surveyed, respectively, working proactively to retain their older employees. Conversely, in Italy and Spain far fewer employers, both at six percent, have such strategies in place.
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