America’s workforce is getting older, or rather more people over the age of 55 are continuing to work full-time, year-round jobs according to the Employee Benefit Research Institute’s August 2007 Notes. "Those ages 55 or older in the labor force increased from about 38 percent in 1993 to 45 percent in 2006. For those ages 65–69, the percentage increased from about 18 percent in 1985 to 29 percent in 2006." EBRI speculates that this is due to the rising cost of health care in the individual market. The report also anticipates that the number will continue to rise as employers phase out retiree health insurance and defined benefit pensions are replaced with defined contribution retirement plans. The full report can be downloaded at the EBRI website (pdf).

This trend is neither unexpected or alarming, but it presents both opportunity and challenge to employers: with many older employees needing the income and/or benefits associated with employment, employers lacking a defined benefit retirement and retiree medical plans will find it more difficult to encourage early retirement to reduce labor costs; it will make experienced talent easier to attract and retain; but it’s corollary might prove true – employers may find it challenging to retain only highly-productive older employees.