Kasey Thompson: Idaho Workforce is Aging

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(Newswire.net — August 8, 2016) Boise, Idaho — Idaho’s workforce is aging, and according to a study, about 20% of its population will be over the age of 65 by 2030. Many of these people are predicted to continue working, especially since the economic crisis of the past few years has forced older workers to continue to work past the time they were supposed to retire. Kasey Thompson,  a renowned entrepreneur and current Chairman and Chief Executive of Brokerage TNT Logistics, Inc., talks about how the aging workforce affects companies and employers. According to Thompson, employers have been finding effective ways to retain their older workers. If these workers are successfully retained, they will be occupying key jobs in the workplace in the next 15-20 years.

One of the more effective ways that make employees choose to stay with their employer is phased retirement. This method allows retirement-eligible employees to work part-time schedules while maintaining their original position, providing them with a smooth transition from full-time work to retirement. While phased retirement may seem like a disadvantage to employers, it actually offers a very huge benefit to them.

Northwest Lineman College in Meridian has been working on a phased retirement plan that offers two advantages to employees that work at least 20 hours a week: health care benefits and the ability to withdraw from their retirement plans. Leanna Whitney, the school’s human resources leader and chief culture officer, states that allowing employees to work flexible times will help them retain employees who have the institutional knowledge necessary to train new workers. Giving employees some time off to pursue other activities also makes them happier, which further benefits companies since employees will be more productive and enthusiastic.

“One of the primary offerings that an employer can provide is flexibility,” Whitney says. “If it’s something that is going to make them happier and more productive during the time they’re here, it’s worth it.”

Studies have found that most employees of all ages consider retirement a gradual process, making phased retirement a great option for companies who want to retain employees. Unfortunately, only half of employers nationwide are offering the plan to their workers. Thompson says that legal and regulatory obstacles make it hard to change the distribution of pension benefits. However, Lineman College and many other companies continue to work on having a formal phased retirement plan in their company. In fact, Lineman College is doing everything they can to put this in place by the start of 2017.

Whitney, who is a baby boomer herself, says that people from her generation tend to have already invested so much in their careers. Proud of what they do, these workers see their job as part of their identity and usually do not want to stop contributing their talents and time overnight, preferring to slowly transition to retirement from their full-time jobs.

To learn more about Kasey and his professional career, click here

About Kasey Thompson

Kasey Thompson (Eagle, Idaho) Chairman and Chief Executive of Freight Brokerage TNT Logistics Inc. He is also the head of Cedar Creek Communications, a company which he founded in 2002. He was named Business Owner of the Year in the state of Idaho twice—first in 2009 and second in 2015. Thompson is the only Idaho resident who has received such an honor.

Kasey Thompson

1910 University Drive
Boise, Idaho 83725
United States