Some Companies Are Managing the Labour Shortage Created by Retiring

question 62

Multiple Choice

Some companies are managing the labour shortage created by retiring employees by

• A)offering "retirees on call" programs.
• B)offering bonuses to employees about to retire to stay on past normal retirement age.
• C)contracting out work performed by retiring employees.
• D)hiring younger workers who are able to work harder and longer hours than the older employees they are replacing.
• E)making greater use of information technology to automate functions performed by retiring employees.

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Definitions:

Sharecroppers

Individuals who farm land owned by another and pay rent either in cash or by sharing a portion of the produce.

Corporate Taxes

Taxes imposed on the income or profit of corporations and businesses by the government.

Nationalizing Industries

The process by which a government takes control of private industries and transforms them into state-owned enterprises.

Social Security Act

A U.S. law enacted in 1935 that was designed to provide retirement income and assist the unemployed, as well as provide support for the disabled and families with dependent children.