How Google, Microsoft, Walmart, and other corporate giants are preparing for an aging workforce

"Corporate America is facing a silver tsunami - and some companies are better prepared than others. Walmart is redesigning jobs to keep older workers on the payroll. Microsoft is offering what it calls "wraparound care" to support healthy aging. Google is coaching its employees to prepare for retirement. Some smaller companies have introduced chief longevity officers to help workers navigate health, wellness, and the transition into retirement."

"These are some of the initiatives companies shared with Business Insider, after we contacted more than 75 major employers about their efforts to support aging workers. Fifteen responded and shared policies that address healthcare and well-being, career longevity, flexible work arrangements, and retention. Many of the companies contacted employ thousands of people working past retirement age. Most didn't respond or declined to comment."

"By 2040, it's estimated that about 22% of Americans will be 65 and older, compared to about 18% today. If companies wait to address this aging acceleration, they may miss out on talent, hurt productivity, and lack medical benefits needed to keep workers healthy, experts on aging said. At Walmart, the largest private employer in the US, about 13.3% of the workforce - or over 200,000 employees - is over 60 years old."

U.S. employers are confronting a rapidly aging workforce and adopting varied strategies to retain older employees. Strategies include job redesign, expanded health and wellness benefits, retirement coaching, flexible work arrangements, and dedicated longevity roles. Large employers such as Walmart, Microsoft, and Google are piloting programs to keep experienced workers productive and supported while smaller companies appoint chief longevity officers. Outreach to more than 75 major employers found a subset sharing formal policies addressing healthcare, career longevity, and retention. Failure to plan for the demographic shift risks talent losses, reduced productivity, and insufficient medical support for aging staff.

Read at Business Insider