Navigating the Shift: What the Aging Workforce Means for Freddie Mac Employees

Healthcare Provider Update: Freddie Mac offers a comprehensive benefits package that includes flexible healthcare plans such as POS, HMO, and high-deductible options with HSAs. Employees also receive dental, vision, life, and disability insurance, along with access to an on-site wellness center and fitness facilities. Additional perks include student loan repayment assistance, adoption and fertility benefits, legal services, commuter subsidies, and generous paid time off. The company contributes to 401(k) plans with matching and automatic contributions, and supports employee well-being through EAPs and backup care services 1. Freddie Mac Healthcare costs in the United States are projected to continue rising through 2026, with insurers proposing significant premium increases for Affordable Care Act (ACA) plans. A recent analysis found that ACA insurers are seeking a median premium increase of 15% for 2026, marking the largest hike since 2018. This surge is attributed to factors such as the anticipated expiration of enhanced premium tax credits, rising medical costsincluding expensive medications and increased hospital staysand a shift in the risk pool towards higher-cost enrollees. Without the renewal of enhanced subsidies, out-of-pocket premiums for ACA marketplace enrollees could increase by more than 75% on average. Click here to learn more

The labor force in the United States is undergoing a notable shift, marked by a growing proportion of older workers. According to recent results from a Pew Research survey, the percentage of Americans 65 and older who were employed in 2023 was close to 20%, a number that has nearly doubled over the previous thirty years. Moreover, estimates from Bain & Co. suggest that by 2031, people 65 and older will account for over 25% of the world's labor force.

This change in the population brings with it both opportunities and challenges for Freddie Mac individuals. One of KPMG's national managing partners for talent and culture, Jason LaRue, stresses the value of drawing in a varied pool of candidates, including individuals with a wealth of professional experience. LaRue's viewpoint highlights a significant change in the nature of the workplace where an individual's capacity is not based on their age.

The changing nature of the labor market, which is made worse by the severe lack of workers in the United States, points to possible advantages for both companies and older employees. Research has demonstrated that the effective integration of older employees into multigenerational teams can improve a company's financial performance, foster innovation, and effectively handle burnout issues among employees. In response, companies like Freddie Mac are looking at creative ways to interact and integrate seasoned workers since they understand how important they are to creating a vibrant and competitive work environment.

Adults are choosing to work longer in their professions than the customary retirement age due to both personal and economic concerns. Freddie Mac professionals and many other corporate individuals are being forced to reevaluate their retirement plans due to the cost of caring for others and the need for a stable income to enable living longer and healthier lives. The necessity to adjust to these new circumstances is expressed by John Beard, director of the International Longevity Center-USA and professor at the Robert N. Butler Columbia Aging Center. He notes that society is crossing uncharted territory when it comes to living and working past traditional retirement years.

Incorporating older people not only fills a gap in the labor market but also fosters a more vibrant and diverse work environment. The potential for reciprocal progress and innovation is becoming more evident as Freddie Mac and other company's adjust to this demographic shift, signaling a substantial evolution in the worth and perception of older workers in the global workforce.

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It's important to emphasize that older workers frequently bring a level of emotional intelligence and stability that is vital in the workplace, on top of the advantages for an aging population already discussed. According to research from the American Psychological Association, people over 60 typically have stronger coping mechanisms and emotional regulation, which improves team relations and facilitates conflict resolution (American Psychological Association, 2020). This quality of mature professionals increases the value they bring to their organizations by fostering a more peaceful and productive work environment.

Think about a wine that has been well-aged; with age, it gains value, depth, and appeal. In a similar vein, professionals over 60 are contributing to a revival in the modern workforce. Experienced employees contribute priceless insights, emotional intelligence, and stability to the workplace, much as a wine's maturity adds depth and character. This dynamic work environment, which is similar to a finely balanced wine, is created by combining more experienced workers with less experienced ones. This leads to more creativity, better output, and a more peaceful workplace culture. The aging worker of this century is not heading toward a retirement sunset, but rather heading into a golden age that will add to a richer, more varied professional landscape.