Saturday, August 3, 2019
Norway & Project Exit Age - Hustler Daily Thumbs Up - August 3
Hello fellow Encore Hustlers
In past posts I have highlighted stories from a round the globe about seniors working past retirement age. In most cases the reason cited for continuing to work being economic - not having sufficient money saved, insufficient pensions or unplanned expenses.
Read this story about why Norwegians are the exception for the reason to continue to work in their 60's and 70's. In a decades long study, Project Exit Age, it was determined that twenty percent of Norwegians past the age of 67 continue to work, and about a third of these seniors work over 30 hours a week, even while drawing a state pension.
Norway has a generous pension system, comprehensive social services and state health care, funded in part by an enormous national trust fund from decades of North Sea oil production, so economic hardship is not reason for continuing to work. It appears that senior Norwegians who continue to work do so because they enjoy working and this holds true across the labor force, for both professionals and trade positions.
Mr. EH has visited Norway, performing quality audits in the oil and gas service industries, and can confirm that the Nordic workplace is very progressive. For example, one machine shop had large monitors mounted throughout the shop floor to display production information, but during the World Cup they broadcast football games. They determined it was better to broadcast the games rather than having employees call off "sick" when there was a critical match.
Can anyone think of an American company that would do the same for their shop people?