As demographics change, companies will need to be more flexible in setting up work schedules, said Bank of Canada Governor David Dodge.

Many individuals might want to stay active in the labour force well past the conventional retirement age and it’s important to remove any barriers to their continued participation, he explained in a speech at the Calgary Chamber of Commerce this morning.

“It means that we, as employers, must look at the redesign of pension plans,” Dodge said. “It also means that we, as employers, must put more effort into upgrading skills and increasing our openness to hiring mature workers.”

He also went on to say that organizations should learn to concentrate on making the most of their experienced and trained workers.

Earlier this week, the Conference Board of Canada said Ontario will need approximately 560,000 more workers by the year 2030 to maintain projected potential growth in the province.

To comment on this story email craig.sebastiano@rci.rogers.com.

Copyright © 2018 Transcontinental Media G.P. Originally published on benefitscanada.com

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