Staying Employed Longer: Economist Suggests Relaxing Job Protection for Seniors to Boost Employment
Advisor Südekum of Klingbeil advocates for relaxed termination safeguards for senior employees
Get ready for a shift in hiring practices one day! Economist Jens Südekum, the fresh face as the Finance Minister Lars Klingbeil's personal advisor, is advocating for more flexibility in job protection for older workers. This change, according to Südekum, will encourage the continued employment of seniors who are near retirement age.
The current employment landscape is daunting for older workers, with companies hesitant to hire them due to job protection laws. Südekum argues that job protection for older employees should not be as stringent as for younger workers, as the former's prospective stay in the company might give employers second thoughts. He believes that easing these restrictions will provide more opportunities for older workers and help companies adapt to the changing workforce.
You might wonder, what about the previous government's initiatives? Well, during their term, they paved the way for temporary employment contracts for employees with pension claims. Unfortunately, the legislation failed to pass due to the coalition’s dissolution. However, with the new government, the groundwork can be picked up and implemented, according to the 49-year-old expert from the SPD.
As Südekum is a renowned professor of international economics at Heinrich Heine University Düsseldorf, and has lent his expertise to the federal government in the past, his optimism about the economy's ability to recover is worth noting. He believes that, barring any unforeseen incidents like the COVID-19 pandemic or the Russian invasion of Ukraine, the economy will rebound due to factors such as:
- A decrease in energy prices
- Government spending from the special fund leading to economic growth
- Relief measures for businesses
With the Foundation for Technological Entrepreneurship among his creations, Südekum is no stranger to economic resilience.
On the topic of employment contracts, it's essential to be mindful of potential pitfalls. While Südekum remains hopeful about the economy's future, it's essential to navigate employment laws carefully to avoid any unwanted complications.
[1] Zeit Online, interview with Jens Südekum, July 25, 2022[2] OECD, Employment Outlook 2019, Chapter 3: Labour market challenges in Germany
- Despite the proposed changes in job protection for older workers, it's crucial for the community to understand and abide by the revised policy to ensure fair employment practices.
- Attracting investments and fostering business growth can be achieved through strategic financial planning, vocational training programs, and a supportive political environment, as shown in the initiatives proposed by economist Jens Südekum.
