Future Friday: Are you prepared for a long life?

What are you going to do when he doesn’t want to retire?

We have all heard the trope that “60 if the new 40.” Those of us that are 60 or older are happy to hear that. That is causing problems for employers, however. An older worker that sees themselves as being younger is going to be less inclined to move into retirement. This will cause a traffic jam in companies in many positions as these workers do not vacate positions and make room for younger generations. What if it was going to get worse?

Longevity

As reported in the Arabian Gazette, world-renowned futurist Peter Diamandis, announced at a conference in Dubai that “100 is poised to be the new 60.” As we lengthen our lifespans people will be less inclined to want to retire at 65 or 75 or even 85, if being 100 is like being 60. Most people don’t want to spend 40 years or so in retirement.
What will you do as an employer? Will you have spaces for that 90-year old that only “feels” 50? Companies need to start thinking long-term about their older workers. Will this type of longevity require us to think of entirely new structures for our businesses? I think so.
Better get started on it now!

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