To address the challenges of demographic changes, organizations often adopt which strategy to support older workers?

Phased retirement is a strategy that allows older workers to gradually reduce their working hours or responsibilities instead of abruptly stopping work altogether. This approach acknowledges the valuable experience and knowledge that older workers bring to organizations while also accommodating their potential desire for reduced workloads as they approach full retirement.

Implementing a phased retirement program can provide several benefits; it helps retain skilled employees, allows for knowledge transfer to younger employees, and contributes to a more flexible work environment that meets the needs of different generations. It also helps older workers transition to retirement at a manageable pace, which can improve their overall job satisfaction and well-being, as they might still want to contribute while also enjoying increased personal time.

Other approaches, such as mandatory retirement or incentives for early retirement, tend to push older workers out of the workforce rather than support their continued participation. Extended leave policies might offer some flexibility, but they do not specifically address the balance of work and retirement that phased retirement successfully provides.