Good story about employing older workers:
Older workers: At this company, average employee is 65.
Ferson is part of a unique workforce at the family-owned firm, Vita Needle, that may offer a glimpse of all our futures. Half of Vita’s 49 employees are 75 or older. Half the workforce is part-time and the average age of all employees is 65.
Ferson recently became the oldest worker when Rita Finnegan, who turned 100 in 2012, upped and quit.
“Her health is fine,” says 30-year-old Frederick Hartman, a third-generation member of the family to work at Vita. “She wanted to keep working, but her family moved 30 miles away and she couldn’t handle the commute. We miss her.”
Fred Vettese, chief actuary with Toronto pension consultants Morneau Shepell, says the day is coming when there will be more companies like Vita. Forget Freedom 55, he says. Think Freedom 67 and beyond.
“The cohort that’s growing the fastest in the workforce is the 60-plus group,” he says.
The reason for the growth is that baby boomers want to keep going and the economy will need them. As this demographic moves into retirement, it will leave gaps. There aren’t enough younger people to fill the spots.