There is an age after which one’s efficiency decreases. Should young people in the working fields replace all the old people?

Retirement age is emerged as a hot topic in human resource sector in recent years, retirement age ranges from 55-65 years in different countries. As a person gets old his/her efficiency to work falls, now the question is, whether change them or not. While making this decision, at least two factors should be considered, firstly profession and the second one is position.
A guideline may be taken from industrial needs. There some professions which demand more energetic workers than others, whereas, some are pro experience oriented, so this should be kept in eye while replacing elders with the youthful. Highest levels of physical fitness is a core requirement of some jobs like, sports, mining and driving. In contrast, knowledge and experience are key of success in others, for instance, teaching, science and financial analysis. So, while deciding about the staff renewal specific working requirements should be taken into account.
The other side of picture is that, what level of employee is to be replaced. Positions matter a lot, lower grade jobs are physically more stressful as compared with higher ones. Apex of an organization is not involved in day to day activities, instead they are more indulged in decision making and policy setting tasks. A research article was published in a reputed newspaper, which revealed that, 80 to 90 percent of higher management and directors say that ,” our job description involves strategy setting and attending board meetings”. Whereas, operational tasks are being performed by new comers. So, positions should be identified for which more powerful staff is a necessity.
In conclusion, I would like to say that, both concerns should be addressed before replacement. A hybrid model might be used to ensure effective decision making for lay off of existing and fresh hiring.