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Lower fertility rates and declines in the number of births have created a tremendous labor shortage. This tight labor market has encouraged many companies to recruit and retain a greater number of workers older than the age of 55. Additionally, with the shift to knowledge and technology-based industries, older adult workers are finding that remaining in gainful employment beyond the mean age of 63 has social, financial, and professional benefits. Leadership in the work-place needs to redefine the learning and training strategies needed for successful businesses based on the age and skill set of the workforce.
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Ford et al. (2005) studied this question.
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