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Yet when companies want new employees, they still look on college campuses. When they want to get rid of people, they offer early retirement. "The idea of creatively using older workers hasn't caught on," says older anal Donna Wagner of Towson University's Center for Productive Aging, Baltimore. A FEW EMPLOYERS have made strides; 15% of the employees at CVS, a drugstore chain, are over 55, up from 7% in 1992. CVS actively recruits older workers. It says they stay with the company longer and show older anal more commitment. But most companies have a long way to go to attract and retain top-flight older workers. Age bias is a deep-seated barrier, of course. And there are cost obstacles. Too many pension plans require the largest employer contributions as workers approach retirement, making older workers more expensive. Beyond that, many employers need to fine-tune work-life conditions, an element of workplace quality that's more important to many older workers than to younger ones.
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