Suddenly 50: the aging workforce and its relationship with the company

Abstract

Purpose This paper aims to discuss the findings of a study to identify the characteristics of organizations that implement policies and practices to attract and retain older workers. Design/methodology/approach This exploratory and descriptive research adopts a quantitative approach. The data analyzed were gathered from the database compiled during the 2020 edition of the “FIA – Employee Experience” survey. Notably, it identified the top 100 companies prioritizing investment in human resources policies and practices, awarding the “Amazing Places to Work” prize to those demonstrating the highest indices. Findings The findings highlight the proactive stance of both national and multinational companies, typically falling within the medium to large size category, in implementing strategies to attract and retain an aging workforce. These companies predominantly employ individuals with high school education and undertake affirmative action, targeting at least four other minority groups alongside older workers. Practical implications The insights provided in this article regarding the strategies and initiatives implemented to attract and retain older workers can empower other interested companies to enhance their preparedness in addressing the demographic shift toward an aging Brazilian workforce. Originality/value The analysis of the findings contributes to advancing understanding of the relationship between organizations and older workers, an area that remains underexplored in Brazil and worldwide. Furthermore, it furnishes insights into the specific policies and practices adopted by these organizations, equipping interested companies with knowledge to address the challenge of adapting to Brazil’s aging workforce.