How Will Changing Demographics Affect Workforce Composition? Retirement Age?
China, to the massive overhang of Europe’s elderly—can private corporations, governments, and other sectors expect as the aging revolution unfolds across the globe?
How will changing demographics affect workforce composition? Retirement age?
Pension outlays? Taxation?
As per the report of international-economy.com (2010), the retiring age of male and female workers in China is 60-65 and 55-60. We know the fact when there is decline in the population, it will directly affect the operations of the business organizations. In order form managing the production activities in an active way, we required workforce.
While analyzing one child policy of China it will affect the economic and family structure of the country. For instance, child in the family must consider his or her parents, in which he is only source of income for the family. If the government is not ready to modify the policies and practices, it will increase the number of elderly people and it will affect operational functions of business groups and government.
Changing demographics affect workforce composition, if we are analyzing example of
India and America we can able to understand that Retirement age, Pension outlays and
Taxation is entirely different (Day 2016). Workforce composition mainly influenced by the both internal and external business environment factors. Technological factors can be called…