Mandatory retirement. Several decades ago this might have made sense but today businesses and industries may be left with young, inexperienced workers after years of having knowledgeable workers. Mandatory retirement relies on the idea that once you hit 70 you don’t have the same abilities that you had when you were younger. It’s actually a form of age discrimination. Ageism as some like to call it now.
What are the pros and cons of mandatory retirement?
The Pros and Cons
- In an economy where jobs are badly needed, enforcing mandatory retirement does open positions for younger workers. At the same time, as older workers leave, the company will lose many years of experience. This could be what makes their company so popular.
- The major force behind mandatory retirement is paying employees less. Newer employees usually start at a lower salary. Companies save by retiring long time, older workers.
- For some professions a mandatory retirement age does make sense. If you are a fire fighter, police officer or air traffic controller, physical and cognitive decline can make you more of a danger to the public than a help.
- Some mandatory retirement ages are less than 65 years old which leaves older workers without a pension and often without any job prospects. After many years working for the same company, though they are very experience, older adults can end up working in coffee shops and driving taxi cabs for a living.
- Mandatory retirement ages had a purpose. Put in place when lifespans were younger. The thought being, retire before you were completely worn out. Times have changed and those well into their seventies bring new ideas and innovation to many companies.
What is your take on mandatory retirement? Do you think it’s a good idea or do you feel workers should be able to retire when they like? A balance of younger workers with older workers is best and companies should plan ahead to give their businesses a combination of young enthusiasm and older knowledge.