Among the key findings of a new Transamerica Institute report on how employers are dealing with an evolving workforce is the need to be age-friendly (There are lots more trends and insights, but this is most relevant to the active-aging industry). “Amid current labor shortages, employers may be overlooking an opportunity to expand their talent pool to include older workers,” said Catherine Collinson, CEO and president of Transamerica Institute and TCRS.

Almost one in four workers are now 55 and older, and from 2023 to 2033, workers 65 and older are projected to be the fastest growing segment of the workforce. Yet, among employers with available job openings last year, only 26% gave “a great deal” of consideration to age 50-plus applicants, according to the report.

The report suggests these strategies as “best practices” for becoming an age-friendly employer, and provides data to support the need for them: promote lifelong learning and foster a multigenerational workforce so that workers and organizations alike can grow and adapt to change; embrace flexibility and offer alternative work arrangements; support caregivers; and offer transitions to retirement.

“We currently have four-to-five generations in the workforce, and they bring a powerhouse of diversity in skills, expertise, and perspectives,” said Collinson. “To tap into this opportunity and attract and retain employees, employers must recognize the needs of workers of all ages and life phases.”

The report is based on a survey of more than 1,800 for-profit US employers conducted in late 2024, and features comparisons with a survey of more than 5,400 workers of for-profit companies. Analyses are provided by small, medium, and large companies.

To download the full report, “New Frontiers: Employers and the Evolving Workforce,” click here