Employing Elderly Workers: What Are The Risks?

Control hazards and reduce risks associated with employing older workers

According to the Bureau of Labor Statistics, in 2016, individuals ages 65 and older accounted for 19.3% of the United States workforce and by 2026, they are projected to account for 21.8%.

There are many reasons individuals choose to work beyond the traditional retirement age of 65. Some may be working hard to cushion their savings accounts, erase debt or they simply love what they do for a living and aren’t ready to see it come to a close. As the trend continues, companies must not only carefully consider the risks associated with older workers, but how they can make accommodations that yield benefits for the entire team.

According to the Bureau of Labor Statistics, in 2016, the most dangerous time for employees was their first year on the job, but workers ages 65 and older took the most days off work after a nonfatal occupational injury or illness. Additionally, companies may need to seek out supplementary insurance coverage or revisit their current plan to make necessary adjustments. 

Older workers are an invaluable asset to companies looking to train the next line of workers. As a business owner, there are many things you can do to accommodate these workers. Adopting technologically advanced equipment, planning frequent educational trainings and implementing wellness programs to help workers stay healthy on and off the job, will not only yield positive benefits for older employees, but their employers, too.

Two Rivers Insurance Services’ Special Risk Management Services are designed to control hazards and reduce risks associated with employing older workers. Interested in learning more? Contact a Two Rivers Insurance Services consultant below.

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