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Elderly Workers in Society

February 22, 2012 | Comments: 0 | Views: 209

An increasing number of elderly people are opting to spend their retirement years, continuing to work in their family businesses, using their experience from their work life in very profound and adaptive ways. Some are teaching their grandchildren and their peers, others prefer employment in service jobs and giving treasured advice in business and their place of work.There is an economic argument to this. Tax legislation often has an influence on the labor force and on individual's decisions about joining the labor force. This is especially true of elderly people who may want to spend their time in paid work. Elderly people are often part-time workers due to their utility and leisure compensation from work post retirement. To elaborate on this, work is forthcoming as a result of its compensation, that is the hourly wage or monthly income and off-work time is spent as leisure time. More hours worked means less time spent leisurely and although more hours of work also mean more income, there is a decline in utility that stems from ageing.

As part time work does not often get compensation pay, which is for over time, lower tax rates on incomes or tax exemptions that have become legislation in some Western countries allow more of this labor to be forth coming. However, the other side to this argument is government debt. A lot of governments do not raise this issue of government debts, as a matter of policy avoiding a political debate over a potentially controversial issue. Instead they turn to the argument of lowering the tax rates to reduce withdrawals from household expenditure and the economy.

Elderly workers who come from an age cohort where they believe in government services and public schemes are very supportive of these initiatives taken by the government to bring them within the reach of empowering their vote and hold particular sway over the old age pension benefit schemes and tax policies.

The issues outlined here political and economic, most income benefits schemes and income tax are designed to increase employment especially. In countries with aging populations this has become crucial with the ageing workforce. In South East Asia, the decline in birth rates as a result of the one child policy that a lot of Asian Governments have pursued during their development growth stages is also gradually changing their demographics.Elderly workers post retirement age depend on pension schemes and other fixed income, retirement funds that are an asset. Why is this labor forth coming? And what do the majority of elderly workers do?

Teaching; working in a particular household industry; as most entrepreneurs work till after post retirement age at 65 years; private tutelage; professors; jobs in tertiary services; small domestic businesses; factory worker in poorer regions although there is legislation on work on the factory floor by elderly people; managing an inspection team based on experience are just a few examples of what elderly workers contribute in employment.

At times the decision to work comes primarily as a decision to not be entirely dependent on their families. The following interviews show how some elderly people work and the hindrances they come across; their disabilities and impediments of rapidly changing technology and their inability to adapt to it.

The first one of these is an elderly entrepreneur, the owner manager of a small restaurant business, that requires little paid up capital.

How long have you had this restaurant? Thirty years.

Here, in the same place? No. We have relocated recently. Competition has improved sales and it has been more fruitful to move to a location where other similar restaurants are locating. We serve traditional and western cuisine, so we have done reasonably well.

What changes have you noticed in your business over the years? It has grown rapidly. People have to eat. Most of our customers come from nearby for their lunch break and people who are in town.

How are you coping with the price rises every year? Prices are rising, but we have managed to cope.

How has that affected your business? Prices have been rising gradually,but we have also experienced a steady rise in our walk in customers.

How about the popular food chains that have opened up?Yes, younger people prefer fast food. Without these fast food chains my business would have been much better off.

How have you adapted your business to the changes in this environment? Relocating has improved our customer base.

How many assistants do have to help you? I have 5 assistants to help me. Two men, including my son, manage stores and supplies; I have a shop assistant at the sales counter and a cook with an assistant.

And what do you do? I manage them. It was a 12 hour work job when I started but nowadays I prefer an early morning start and leave at noon. Supervision is very important in the proper running of a business.

Do you enjoy your work? Yes, very much so.

Would you want your children to follow in your footsteps? One of my sons works with me. The other son works for a company.

What are your views of the increasingly technological environment and do you feel you or your peers can adapt to this?

It is a good trend. We have to keep up with the changing technology in this world in order to compete with other countries. I cannot adapt to it. We have a computerized inventory check and sales that does away with a lot of the paper work.

Is it encouraging? And do you feel it has increased productivity in your work? Yes. It is easier and more efficient to manage. You can keep a record of all transactions too.

Matthew Driscoll is CEO of a wealth advisory and financial consulting company that was founded twenty years ago. With robust health and a fitness regimen that few take time to enjoy, at 78 he has a hands on approach to his work based on his experience of 50 years in a company that boasts a growing clientele. But he says "I would never last in a new high tech firm with a rapidly changing market and sales planning well ahead of time". "I sell personal and corporate advise."

The incidence of elderly women in the workforce depends largely on their economic circumstances. Most women would work part-time for a monthly income of about $1000. The incidence of elderly women in the workforce is also lower than men. More elderly men are found in employment in tertiary sector and businesses although both elderly men and women find greater equality in job opportunity than earlier on in their lives.

A majority of female work is at home, groups of women assembling together to work on hand made products in cottage industry cannot be ruled out. Or simply helping to raise a fund. In western countries this has been a traditional past-time for the elderly that supplements family income in poorer regions in particular during times of economic crisis. It is the effort of these retired workers that produces quaint products that sell very well in the market.

What are some of the difficulties encountered by elderly workers in society? They are not easily adapted to a rapidly changing business environment and therefore are seldom found in work places that do not have a staple business with not more than 4-5 employees working as part of a team. Most elderly workers have simply stayed on post retirement as part-time employees, in jobs where there are opportunities of specialization resulting from their experience.

With the years of experience behind them, they can provide insights and are employed as instructors to train young trainees in shift jobs in a particular industry. Some of these shift patterns, their control and management involves developing communications skills and team work in producing a particular quantity of output. Productivity cannot always be measured precisely, high tech maintenance services for instance, are difficult to quantify in terms of productivity, and may be more fruitfully done through older technical workers with a considerable number of years experience behind them.

An entirely different aspect to this is elderly workers in society do not necessarily work in paid jobs. A distinction has to be made between paid economic work and non-paid work. Some elderly workers however, prefer not to join economic activity and make their contribution to society by working at home, work that full time working employees would simply not have enough time to undertake. Many elderly people work with children. It takes a lot of practice to help children with any work they have been given and having time to spend with children is a void that only grandparents and elderly people around them fill in.

With the increases in life expectancy we see a greater proportion of elderly people in society. Elderly people are often entitled to claims and benefits post retirement and so a legal definition arises for the elderly. Retirement ages are mandatory requirements in government jobs and corporations although most of these are abolished through legislation and elderly workers can work post retirement. Retirement normally has its problems primarily a loss of income and more leisure time and is for some a difficult transition to make. In societies where work economic and otherwise is an important aspect of life, retirement often means a loss of status and a withdrawal of society as a result of breaking contact with other workers.

Society is however, throughout the world becoming increasingly acceptable of elderly people in the work force and old age is not necessarily identified as ill health and ageing. In societies that are more traditional and the elderly have a status within the household, ambivalence to the elderly is certainly not absent.

With the aging populations in OECD countries, elderly people that continue to work is an important economic issue. However, the income differentials are an important indicator of work by the elderly and by younger income earners. Industry and the trends in the work force do largely cater to the younger and middle group income earners. Fixed income investments are all that the elderly age group have apart from their part time labour. Younger workers have expectations, but these expectations of future economic circumstances are uncertain.

The decisions of the elderly to stay in the workforce, where they have been self employed and are not a part of corporate pension schemes is encouraged by the fact that elderly workers are not entitled to unemployment benefits post retirement. Unemployment benefit schemes are largely for the working age group and are designed primarily to maintain their basic living expenses.

Source: EzineArticles
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