Employers nowadays may feel bombarded with advice on how to retain millennial employees. Those younger workers have the reputation of moving from job to job, so employers wanting to get the most from the investment they make in their youngest employees put a lot of energy into encouraging them to stay. But what about older employees—those who are weighing the pros and cons of retirement, maybe wondering if they’re still appreciated? Are those workers also worth special retention efforts? And, if so, what should employers do?
“There is no substitute for experience,” Susan G. Fentin, an attorney with the Skoler, Abbott & Presser, P.C. law firm in Springfield, Massachusetts, says “Employees with a long record of experience with a company will undoubtedly have contacts in the industry that are invaluable. Any type of knowledge that is built up over time is generally hard to replace, so keeping employees on staff after what might otherwise be retirement age would work to the company’s advantage.”
Researchers report that the millennial generation now makes up the largest share of the U.S. workforce. To be sure, the baby boomer and Generation X contingents remain strong, but the sheer number of younger workers makes them a force to be reckoned with. Longtime workers may think their young colleagues have a lot to learn, but employers are finding the youngest workers also have a lot to teach.
Flipped, or reverse, mentoring is one way employers can cash in on the wisdom their youngest workers bring to the workforce. Mary George Opperman, vice president and chief human resources officer at Cornell University, is scheduled to present a talk called “Reverse Mentoring: Building Meaningful Intergenerational Relationships in the Workplace” at the Business and Legal Resources THRIVE 2016 Annual Conference, scheduled for May 12-13 in Las Vegas.
It is undeniable that the American workforce is getting older or, shall we say, more mature. In The Aging U.S. Workforce, the Stanford Center on Longevity estimates that by 2020, workers 55 and older will make up a quarter of the U.S. labor force, up from 13% in 2000. As the Baby Boomer generation hits retirement age, employers face a host of legal issues. Some landmines are rather obvious. For example, employers cannot terminate an employee simply because of her age.
Other issues are more nuanced. What if an employee is performing poorly because of age-related reasons? Can an employer terminate an older employee whose benefits are expensive? This article provides guidance on some of the issues employers with an aging workforce face.
Today’s workers are likely to celebrate their 65th birthdays with a cake and a short gathering of coworkers in the break room – not with a big retirement party complete with the awarding of a gold watch. Retirement has taken on a new look, and employers must be ready for that trend to continue.
The U.S. Census Bureau released a report in January showing that the workforce participation rate for people 65 and older has been on the rise for the past 20 years but especially during the last decade. The Census Bureau’s new American Community Survey brief says that the percentage of people 65 and older in the labor force increased from 12.1 percent in 1990 to 16.1 percent in 2010. Within the 65 and over population, 65- to 69-year-olds saw the largest increase in labor force participation.
Online job website CareerBuilder conducted a national survey between May 14 and June 4, polling more than 3,800 full-time workers and more than 2,200 hiring managers across industries and functions. Managers and workers ages 25 to 34 and managers and workers 55 and older were surveyed to get a picture of how the styles of the two groups differ.
“Age disparities in the office are perhaps more diverse now than they’ve ever been,” says Rosemary Haefner, vice president of human resources at CareerBuilder. “It’s not uncommon to see 30-year-olds managing 50-year-olds or 65-year-olds mentoring 22-year-olds. While the tenets of successful management are consistent across generations, there are subtle differences in work habits and views that all workers must empathize with when working with or managing someone who’s much different in age.” read more…
It’s often easy for employers to be understanding when workers occasionally need to duck out of work early for a meeting at school or a trip to a child’s doctor. It happens to nearly every working parent once in a while.
But what about an employee whose child has some kind of special need, a parent whose caregiving responsibilities are seen as especially time-consuming and difficult to juggle with work responsibilities? An employer in that situation may be sympathetic but worried about getting the job done, even nervous about the reliability of the employee.
In addition to those attendance and performance concerns, employers have to be aware of legal hazards. Can an employer’s treatment of employees with special-needs children become a legal hazard? It is possible. read more…
Modern medicine continues to increase life spans in the United States. Just as an example, the death rate for heart disease has dropped 60 percent in the last 50 years. The death rate for stroke has dropped even more, by 70 percent. And deaths from cancer have decreased 10 percent just in the last 15 years.
That all means that more people are living well into their 80s and even 90s. One consequence of that fact is that baby boomers — defined as anyone born between 1946 and 1964 — are increasingly likely to face the prospect of caring for their elderly parents. It’s the new “work/life balance” — rather than balancing work with the need to care for their young children, many are struggling to balance the demands of the workplace with the need to care for their ailing parents.
With Americans living longer, they are also working longer, making older workers an invaluable part of any company. They bring wisdom, knowledge, and experience to many aspects of business. They can become mentors for younger and less experienced workers. But there are certain changes that occur to both the body and mind of every individual as they age, which can affect safety in the workplace if an employer is unaware of them and does not take steps to keep aging workers safe.
The first members of the “baby boomer” generation have entered their sixth decade â€” the eldest in a generation that comprises the most significant portion of the U.S. labor force today. According to the Bureau of Labor Statistics, almost a quarter of all 65- to 74-year-olds are active in the workforce, representing the highest percentage of workers in this age group since 1970. As older adults return to work after re-tirement, whether due to financial need or the desire to continue working, health and safety professionals must address this population’s needs.
A wise employer recognizes that with age comes solid work experience. Thus, it is beneficial to both you and the employee to accommodate the needs of your aging employees. While an older workforce may trigger a few considerations, flexibility and additional training can ensure that your employees (and business) continue to prosper.
Baby Boomers are all grown up and represent a large portion of today’s workforce. According to the Bureau of Labor Statistics, more than 40 percent of people age 55 and older consider themselves part of the workforce. Before the recession, many companies were becoming increasingly aware of the needs of older workers. However, many initiatives aimed at meeting those needs have been scrapped because of tumultuous financial times. Labor experts now fear that employers are woefully unprepared to meet the needs of the aging labor force.