Associate Director Ruth Finkelstein on managing an aging workforce

August 14, 2014  From The Economist, an interview with the Columbia Aging Center's Associate Director, Ruth Finkelstein:

"The idea that having an aging workforce affects the competitiveness of a country is based on the erroneous assumption that having an aging workforce alone will have a positive or a negative effect. The impact depends entirely on the policies and practices that are in place.  For example, if people work longer, the overall pension and social security costs (the costs to the public of supporting older adults) decline, making labor cheaper overall. Furthermore, if people work longer, they act as consumers longer and at a higher level, which positively impacts economies. There is also increasing evidence that a mix of older and younger workers brings different strengths and skills into the workplace (for example, a mix of technology skills and institutional knowledge), which drives companies’ performances."

For the full interview, please click here.