Tokyo
October 14, 2021
In April of this year, the Japanese Cabinet passed a bill requiring companies to employ their workers until the age of 70, raising the retirement age from 65 to 70.
The passage of this bill is an attempt to address problems such as the declining birth rate, the aging population, the resulting labor shortage, and rising pension rates.
It gives companies the option of retaining older workers and even allowing them to work well beyond the age limit.
However, companies and workers must reach a consensus on employment beyond the normal age limit, according to the law.
Electronics retailer Nojima, for example, decided last year to allow its employees to work until age 80 if they wished, raising the retirement age from 65 to retain experienced employees.
Many of the company’s employees even said they wanted to work past age 80. The company complied with this request and now allows its employees to work beyond the 80-year mark for as long as they wish, macabre as it sounds, until they die if it is their wish.
Nojima is known for its customer service, which depends on the company’s employees rather than manufacturers’ sales representatives. As a result, the company particularly values its sales staff for their beneficial skills, such as their extensive product knowledge and strong connections with the customer base.
Another Japanese company, zipper manufacturer YKK allowed its employees to continue working as full-time employees for as long as they want in April this year.
As companies face labor shortages exacerbated by the economic impact of the COVID-19 pandemic, they are increasingly relying on older workers to fill vacancies.
