Empty nesters or not, older workers often have unique needs

Retaining golden-age workers may require benefits creativity
By Sarah Beech
|Canadian HR Reporter|Last Updated: 05/20/2004


o attract and retain employees past retirement age — an increasingly common goal for organizations facing an exodus of older staff — employers may consider adding new benefit options that older employees need or want. Employers will have to consider the cost of these changes and of an older workforce in general.

Not all workers will be older and not all older workers will be alike, so a total revamp of the benefits plan is neither desirable nor advisable. Many workers age 55 or older, for example, will still have young children. Thus, dependent coverage and benefits like RESPs continue to be important for many older — as well as younger — workers.