Posts Tagged Boomers
The joke at retirement parties at Stanley Consultants is "See you on Monday."
About 60 percent of the Muscatine, Iowa, company's retirees do, in fact, head back into work—as special project leaders or contract workers, or in a part-time capacity.
In case you missed it, here’s what happened on We Know Next this week.
It seems that more of us are thinking about retirement lately. And why not? Everyone enjoys dreaming of their eventual freedom from the working world: random trips to the beach, time to putter around the house and, ahhhhh, sleeping late!
Increasing numbers of U.S. workers say they would be willing to trade some of their pay for more secure and generous retirement benefits, according to a survey by consultancy Towers Watson.
For many demographers and social scientists, the long-awaited year has come and gone, almost. It was estimated that between Jan. 1 and Dec. 31, 2011, more than 7,000 people would turn 65 years old every single day. Those numbers are astounding.
In AARP's 2010 survey of boomers turning 65 in 2011 finds this first wave of the boomer generation were generally satisfied with their lives and optimistic about the next third of life. Financial security and improving their health were a few top concerns which affected their outlook about the future, and their retirement plans.
Like most developed countries, the U.S. faces a major demographic challenge. This year, the oldest of nearly 80 million baby boomers turn 65. According to the Pew Research Center, about 10,000 Americans reach that milestone every day.
Most organizations can’t afford to suddenly lose such a reservoir of work experience and seasoned judgment. And that maturity and judgment is of particular value in forging collaborative teams within a workforce that now includes four and soon five generations.
Note: This series is based on the paper My Generation.
Each generation imagines itself to be more intelligent than the one that went before it, and wiser than the one that comes after it. - George Orwell
Scripps Health, a major hospital and health care provider in Southern California, has been recognized as the top company in the 2011 AARP Best Employers for Workers Over 50 awards program, a decade-long effort to acknowledge progressive policies and practices that are meeting the needs of the country's aging workforce. AARP is a nonprofit, nonpartisan membership organization for people over 50.
The workforce is aging around the world. Estimates indicate that by 2050, the number of people over the age of 60 will exceed the number of those in younger generations. Experts say companies should prepare now for this global shift.
Yet what most U.S. companies don’t realize, experts say, is that they need to reduce the chance of financial and legal problems arising with these employees—a group more subject to disabilities than younger workers.
Men in cohort are 36% more likely than Boomers to be out-earned by their spousesDespite being the smallest U.S. generation (46 million), Generation X might be “the most critical generation of all” for employers, according to a study by the nonprofit Center for Work-Life Policy.
The U.S. is getting older. Americans are living longer, and there are more seniors in the workforce. That means more care-giving responsibilities for everyone.
SHRM’s research shows that members feel two key demographic trends are the growth in the number of workers with eldercare responsibilities, and those with both childcare and eldercare responsibilities.
Huge demographic shifts in the workforce — from Baby Boomers staying in the labor market to Millennials unable to enter it — were at the forefront of today’s “Workforce Mosaic Policy Summit” at the Newseum in Washington, D.C. Other demographic trends including rapid growth in the nonwhite population and military veterans re-entering the workforce were also highlighted.
As the U.S. economy recovers, some older workers are feeling more comfortable about retiring, although most still foresee working longer than they had anticipated before the stock market drop of 2008-09.
Workforce Policies and Practices to Promote Effective Engagement and Retention of the Aging American Workforce
Funded: June 2007 Completed: July 2010
Lisa Hisae Nishii, Ph.D., ILR School, Cornell University
Susanne M. Bruyère, Ph.D., Employment and Disability Institute, ILR School, Cornell University
Ageism and the retention of high performers: The positive impact of three forms of inclusion.
Public policy needs to provide a framework that is flexible so employers are able to develop programs that address the needs of businesses and older employees, a member of the Society for Human Resource Management (SHRM) told the U.S. Equal Employment Opportunity Commission (EEOC).
The commission heard testimony Nov. 17, 2010, from a number of experts, including Cornelia Gamlem, SPHR, on the impact of the recession on older workers and the legal issues surrounding age discrimination.
Some organizations are looking at their current and future needs as the retirement of the Baby Boomer generation leads to a potential talent shortage. But more can be done to ensure that organizations have the talent they need to succeed, according to a "Strategic Workforce Planning Poll" that the Society for Human Resource Management (SHRM) and AARP released in November 2010.