Tailoring Benefits for Your Most Senior Employees

senior employeesIn the US, workers are keeping their careers going longer and longer – according to the NYT, 19% of workers continue past 65, up from 13% in 2000. What’s more, many are reporting working ‘better’. The decision of senior employees to continue past retirement is often out of enjoyment of their career, rather than due to money problems.

Those employees approaching or meeting retirement age are worth keeping around. Satisfying the needs of such high performing employees is one aspect, but senior staff often have specific benefit package requirements. Here’s how to ensure you meet them while keeping your business ticking.


As members of a generation that prizes financial responsibility, many workers around the 65-year mark will have a good handle on their money. However, as technology and the ways we work advance, their understanding can fall behind. Research by Pew found that only 67% of seniors use the internet, compared to 90% of adults as a whole, demonstrating the divide; and research by American Journal of Public Health found that 5.6% of older adults are fraud victims, showing their vulnerability. Offering financial awareness and advice as an employee benefit can help to reduce the threat of fraud and keep employee financial stress levels down, providing a benefit to your staff and your business.

senior employees


Most responsible companies will offer healthcare. However, this coverage often generalized and does not cover the problems specific to your senior employees. Research by AARP found that businesses offering senior-tailored health benefits can stand to recoup between $3 and $14 per $1 spent due to the increases in productivity and reduced sickness time claimed by employees.


Older workers will often have close relatives, including their spouses, parents, and siblings, who will be at an older or similar age. Even if your employees are in good health, they may have relatives diagnosed with a disability. This is clearly shown by the Caregiver’s Associations statistics that state 34% of caregivers are over 65. You can make a huge impact on your valued employee’s life by providing caregiver benefits that help with the outright costs of care, or allow them more time to stay in the office – or simply spare time – by providing resources.

Senior members of every organization have very specific needs from their employee benefits package. With health posing new challenges and technology creating gaps in understanding, many benefits offered to older and senior employees are best tailored to bridge any new gaps. Reassess your offered package, and see if you could do better for your professionals.

If you are looking for a partner to help you assess and/or formulate a benefits package that caters to all age groups, contact us to speak to a consultant.

Guest post by freelance writer Jenny Holt.