Senior persons are respected in every step of society. Whenever, these people touch their age in a certain level, they would be dismissed from their position by the employer in different parts of the world. However, the main advantage of taking retirement of senior person is to vacant a position for the newcomers and the main disadvantage is losing the repository of knowledge.
However, the retirement of old people make the path smooth for the younger to take their position in future. New young age employees are more energetic and fill with more technological knowledge. As a result, it helps to generate a active workforce, productivity increase and hold the glory of the organization. In addition, the aged people mostly hold the top positions of the organization, so they have to pay a handsome amount of money as a salary. Occasionally, it mightn’t profitable for company.
Seniors are consider as a precious gem of the society. Despite of all the benefit we are unable to ignore the fact that, because of the retirement of the old employees we will lose the store of knowledge as well as experience. If they sign off from their job work disbalance, lack of guidance, hassle in decision making and take time for feedback. In addition, it create emptiness of proper experience people in every aspect such as managerial, technological, professional and so on. As a result it create a great mass.
Every employee is important whether the are new or old. Each side have benefits and drawbacks. There must be a balance between them.