Before we worry about taking care of employees for life, how about we first fix stagnating wages? Companies are still making excellent profits, some are at record profits even after inflation adjustment. Skyrocketing CEO pay is one of the causes. Please see graph in Figure 3:
https://www.vox.com/policy-and-politics/2019/6/26/18744304/c...
I couldn't find any European curves, but things are slightly better over there.