TAIPEI (TVBS News) — Taiwan's declining birth rate has given rise to labor shortage problems in various job markets. Against this backdrop, one solution is encouraging people approaching retirement age to continue working.
This approach could help sustain them financially and give them a renewed sense of purpose.
Shen He-ping previously sold jewelry but closed up shop after the pandemic. At 57 years of age, he decided to continue working, but this time, in a different field.
He began work as an employee at an all-you-can-eat hot pot restaurant in Taipei and shared his views of joining a team with a comparatively younger workforce.
"Collaborating with younger individuals can be invigorating and rejuvenating.; it can help you maintain a positive outlook and avoid stagnation," he said,
Shen added that he aspired to work until age 65 and is open to extending his career beyond that if possible.
Many senior workers share Shen's views and are open to working beyond retirement age. However, age discrimination could pose a challenge for them in finding employment opportunities.
Although Taiwan has seen an increase in labor participation rates among those aged 55 to 64 over the past two decades, rising from 41.8% to 49.2%, it still lags far behind other OECD countries such as Iceland with 80%, Japan with 79.1%, and the U.S. with 64.6%.
To better this situation, scholars and experts have suggested that Taiwan should focus on developing age-friendly workplaces to attract and retain older workers.
Hsin Ping-lung, an associate professor at the National Taiwan University's Graduate Institute of National Development, pointed out, "With the increasing number of middle-aged and elderly people wanting to remain in the workforce, I am concerned about their acceptance in the workplace in Taiwan."
"If age discrimination persists, many of them may be unable to stay employed or be forced to take lower-paying jobs."
Businesses may need to adjust their facilities and equipment and their standard operating procedures to accommodate the needs of older workers and make the transition easier for them.