While some people argue that replacing elderly but experienced employees with new, young and unskilled individuals is imprudent. I strongly agree with this view. Senior staff should not be replaced with fresh minds however it is superior to replace them as they start to become frail and have cognitive decline.
To begin with, seasoned, veteran employees is needed for companies to be aware of loosing time and industry properties including some machines. When a company signs off senior workers and get younger applicants, they ought to spend time and money for their training lessons. Instead they can sign them as teachers for young applicants and make them provide professional guidance on job information and teach it practically too. For example, after Apple signed elderly workers for training groups, the company successfully decreased its expenses by almost 25%. Thus, instead of ejecting senior staff companies can use them efficiently and cut their expenses.
However, as people age they start to lose their memory and become easily fatigued. In physically demanding job it is good to sign off pre-retirees earlier, otherwise this may result in decline of productivity and net worth and drop in net profit. For instance, only after signing elder workers to other sectors and getting young staff for physically demanding jobs, company’s productivity grew by almost 17%. Therefore, it is good to replace older workers or move them to other sectors as they hit the retiring age.
To conclude, it is good to replace elderly workers with young and energetic staff however companies should not terminate them. Instead they can sign them to easier sectors or assign them as teachers in training sectors for recently joined employees.