Retain older workers rather than replace them, says Canadian Chamber of Commerce

In its discussion paper, “Incenting Seniors to Continue Working,” the Canadian Chamber of Commerce reinforces the argument that retaining older workers in the workforce is part of the solution to avoid Canada’s impending skills crisis. The time is right, says the Chamber, to look at removing disincentives that discourage seniors from working.

“By the start of the next decade, people old enough to leave the labour force will outnumber those old enough to join it. In Canada, we predict a labour shortage of nearly one million people by 2020,” said Perrin Beatty, president and CEO of the Canadian Chamber of Commerce. “We have been talking about this challenge for years; it’s time to start looking at concrete solutions.”

Seniors represent a constituency that needs to be better integrated into the workforce, argues the Chamber.

“They possess the essential skills employers need. Many want to continue working and view work as an important part of their life balance.”

The Canadian Chamber of Commerce believes a new business culture aimed at retaining, rather than replacing, senior workers is the correct approach to pursue. The discussion paper identifies areas that must be addressed to pave the way for the retention of older workers, including pension and tax reform. CLICK HERE for a copy of the paper.