Older Workers and Retirees Cologne

8/3/2019 Older Workers and Retirees Cologne

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Normisur International 2010Normisur International 2010

Older Worker

s and Retirees as

Volunteers:

An Untapped ResourceBrgerengagement

von Senioren

June 25, 2010

Cologne, GermanyCelina Pagani-Tousignant

President, Normisur InternationalFaculty, College Center for Corporate Citizenship,

Center for Corporate Citizenship Deutschland

Tecnolgico de Monterrey


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Agenda

Time of Transformation

Aging Process

Retirement Plans

Employment Patterns

Corporate Volunteer Programs Best Practices: How to Engage Retirees


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Older Workers

Time of Transformation


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Older Citizens

Older Adults

Traditionals

Mature Workers

Veterans

Experienced Workers

Baby Boomers

AdultWorkers

Older Workers

Senior Workers

What Name?


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How Old?

45 and older

50 and older

55+

People in their 60s. 70s. 80s, and 90s

65 and over


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Changes in Society

Percentage of population in U.S. ages 50 and

older:

13% in 1900

27% in 2000

Over 35% in 2020

Source: Sloan Center on Aging & Work, How Old Are Todays Older Workers?,

2005


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Labor Force Changes

Past

Percentage of older workers hadlittle impact on the agecomposition of labor force

Labor force exit was predictablebetween ages (62-65)

Source: Sloan Center on Aging & Work,Older Workers Preferences for Workand Employment, 2009

Present

Had most significant increases inparticipation over a 30 yearperiod

U.S. older workers (45 and older)comprise 37% of labor force

Half of working adults ages 50-64may delay retirement

16% may never stop working


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Dramatic Changes

Older Workers:

Aging process

Retirement plans

Employment patterns


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Older Workers

Aging Process


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Aging Process

Past

Fear of growing old

Negative perceptions

Old age=role lessChecked out

Time disengagement

Nursing home

Depression and anxiety

Source: Sloan Center on Aging & Work, Engaged asWe age, 2010

Present

Added years longevity and health

Well-being and vitality

Older workers want to keeplearning, working, volunteeringand contributing to society

Want to live life to fullest

Employment is compatible withretired living


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Successful Aging

Models of Aging: From

Disengagement to Engagement

1950 1960

1990

2000

2005

2010

DisengagementTheory

Source: Sloan Center on Aging & Work,

Engaged as We age, 2010

Productive Aging

Meaningful Aging

Engaged as

We Age


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Avoiding Disease &Disability

Engagement

with LifeHigh Cognitive &Physical Function

Successful Aging

Successful

Aging

Source: Rowen and Kahn


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Other Models of Aging

Productive Aging

Elaborates onEngagement with life

Activities that producegoods and services,whether paid or not

Focuses on: work,volunteering and care-

giving

Meaningful Aging

Model that endows laterlife with dignity and valuein spite of illness and

frailty

Source: Sloan Center on Aging & Work,Engaged as We age, 2010


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Beyond Involvement to

Engagement:

Source: Sloan Center on Aging & Work: Engaged as We Age, 2010

Volunteer

Activities

Educational

Activities Engaged as

We Age

Paid

Employment

Care-giving

Activities


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Older Workers

Retirement Plans


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Retirement

Past

Retirement=subsidized vacation

Event

To be or not to be in the labor

workforce

Source: Sloan Center on Aging & Work, Down Shifting: TheRole of Bridge Jobs After Career Employment, 2007

Present

Gradual process

Shift gears by reducing workhours, changing jobs to new

lines of work, leaving a careerjob, remaining on the careerjob, working part-time, phasedretirement, going back toschool, consulting, volunteeringor having a bridge job

Stop working altogether


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Older Workers

Employment Patterns


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Are Employers Getting Ready for

the Demographic Changes? AARP (American Association of Retired Persons): Best Employers

for Workers Over 50 in 2001

45% HR professionals: their workplaces are just becoming aware of

these changes SHRM (Society for Human Resource Management) reports 43%

members see a problem with loss of talent associated with theretirement of baby boomers

Source: Sloan Center on Aging & Work, Businesses: How Are they Preparing for the AgingWorkforce?, 2005


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Why should companies care?

Human Capital &Diversity

Multigenerational teams

Knowledge transfer

Aging workforce


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New Ways of Working

Global workforce

Competition Operations 24/7

High technology

Pressure for innovation

Four generations at the workplace

Source: Sloan Center for Aging & Work


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Four Generations at the Workplace

Veterans 1922-1943 (52 million)

Baby Boomers 1943-1960 (73.2 million)

Generation X 1960-1980 (70.1 million)

Generation Y 1980-2000 (69.7 million)

Source: Generations at Work, Zemke, Raines & Filipczak


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Business Case: Older Workers

Low turnoverrates

Higher performanceand productivity More

reliable

Strongerwork ethicHigher

customersatisfaction

rates

Reputation

Serve as mentors

Invaluableexperience

Willing to workdifferent schedules


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Quality ofEmployment

Source: Sloan Center for Aging & Work, Employers of Choice in Countries of Choice, 2007


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What is His Story?

Married?

Are his kids in college?Middle School?

New baby?

How is his health?

What is he looking forfrom his job?


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Age Matters

Chronological Generation

Career Stage Life Stage

Source: Sloan Center on Aging & Work, Age and

Generations Study, 2009
http://images.google.com/imgres?imgurl=http://timesonline.typepad.com/photos/uncategorized/2009/03/11/youtube_logo.jpg&imgrefurl=http://timesonline.typepad.com/technology/2009/03/music-lovers-lo.html&usg=__BIpSqMiCFHCkGW5RSykqQ7xlElk=&h=450&w=600&sz=27&hl=en&start=3&tbnid=uG9PhuBLX4dJJM:&tbnh=101&tbnw=135&prev=/images?q=you++tube&gbv=2&hl=enhttp://images.google.com/imgres?imgurl=http://www.cobyusa.com/files/hi_res/TVDVD1390_HR.jpg&imgrefurl=http://www.cobyusa.com/?p=prod&prod_num_id=69&pcat_id=2002&usg=__dP7teSRdT5SuwddF9_VziGc0qfQ=&h=2000&w=2000&sz=1736&hl=en&start=25&tbnid=_07rUy3RAk06gM:&tbnh=150&tbnw=150&prev=/images?q=color+tv&gbv=2&ndsp=18&hl=en&sa=N&start=18http://images.google.com/imgres?imgurl=http://www1.istockphoto.com/file_thumbview_approve/126618/2/istockphoto_126618_black_and_white_tv.jpg&imgrefurl=http://auldreekierants.blogspot.com/2008/03/those-black-and-white-days.html&usg=__ej-MNDq8e_ZPmizYDBVOV_pzISY=&h=380&w=334&sz=22&hl=en&start=1&tbnid=aW93P0yFhO3XOM:&tbnh=123&tbnw=108&prev=/images?q=black+and+white+tv&gbv=2&hl=en&sa=X


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Normisur International 2010

Succesful Aging


Quality of Employment by

Age/Generational Groups

-0.6

-0.4

-0.2

0.0

0.2

0.4

Wellness, Health & Sa fety Protections

Opportunities for Meaningful Work

Prov isions for Employm ent Security &

Predictabilities

Workpla ce Flex ibilit y

Cult ur e of Respect, Inclusion & Equali ty

Promotion of Construct iv e Relationships

at t he Workplace

Fair, Attra ctive and Competitive

Compensation & Benefits

Opport unities for Dev elopment,

Learning & Adv ancement

A ge 2 6 or y ou nger (G en Yer s/Mil le nnia ls) A ge 2 7 to 3 5 (Y ou ng er Gen Xers)

A ge 3 6 to 4 2 (O ld er Ge n Xer s) A ge 4 3 to 5 2 (Y ou n g er Boom er s)

A ge 5 3 to 6 1 (O ld er Boom er s) A ge 6 2 or old er (T r a di tion a li st s)

Total Sam ple

Source: Sloan Center bon Aging & Work, Age and Generations Study, 2009


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Drivers of Employee

EngagementCharacteristics Employees Bring to Work

Age (being older)

Gender (being female)

Elder care status (not having elder acreresponsibilities)

Household income

Mental health (better)

Physical health (better)

Core self-evaluation (having a betterperception of self)

Source: Sloan Center on Aging & Work, Engaging the21st Century Multi-Generational Workforce,2009

Workplace Characteristics

Number of hours worked (more hours)

Satisfaction with training & development

Assessment of culture of flexibility

Perception of supervisor supportPerceptions of inclusion

Perceptions of job security


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Drivers of Employee Engagement:

Older Baby BoomersCharacteristics Employees Bring to

Work

Mental health (better)

Core self-evaluation (having a betterperception of self)

Source: Sloan Center on Aging & Work,Engaging the 21st Century Multi-Generational Workforce, 2009

Workplace Characteristics

Number of hours worked (more hours)

Perception of supervisor support


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Older Workers

Corporate Volunteer Programs


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Trends in Volunteerism

Among Older Adults According to 2009 surveys by Hartford and AARP,

50% of older adults over age 50 volunteer/over 40% of older adults expect toincrease the amount of time spend in volunteer work in the next 5 years

Older adults (55 to 64 years of age) like to provide managerial and professionalassistance when they volunteer

Collecting food and/or providing office services are volunteer activities preferredby older adults age 65 and over

Source: Sloan Center on Aging & Work, Trends in Volunteerism Among Older Adults, 2010


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Challenges

Insufficient connections between older adults andpotential volunteer opportunities

Outdated volunteer models and opportunities Transportation

Cost barriers

Source: NGA Center for best Practices, Increasing Volunteerism Among Older Adults:Benefits and Strategies for States, Issue Brief, 2008


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Timely Study: 2005

Ranks of retired worker population will grow in the nextdecades

Retirement is being redefined as a transition between paid

work and retirement (bridge jobs, phase retirement andpost-retirement entry to the workforce)

Corporate volunteer programs represent a way throughwhich older workers, retirees and/or alumni can remainengaged and make significant contributions

Source: Boston College Center for Corporate Citizenship (BCCCC), Expanding theBoundaries of Corporate Volunteerism: Retirees as a Valuable Resource, 2005


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Lack of connection between

employee volunteer programs and

the changing nature of retirement

in the U.S.

Source: Boston College Center for Corporate Citizenship (BCCCC), Expanding the

Boundaries of Corporate Volunteerism: Retirees as a Valuable Resource, 2005


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Core Findings

47% of the 22 companies in the study include retirees intheir volunteer efforts

44% of 17 companies with Dollars for Doers make it

possible for retirees to participate (donations from $300 to$1,000 per retiree)

Only a few strategically target retirees (half of managersreported low level interest in retiree volunteerism/fewleaders view retirees as an untapped asset)



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Core Findings (continued)

Shorter-term projects

Integrate employees and retirees intergenerational

exchange

Need to publicize volunteer opportunities

Important to develop volunteer DNA before retirement

Business case for including retirees

Source: Boston College Center for Corporate Citizenship (BCCCC), Expanding the

Boundaries of Corporate Volunteerism: Retirees as a Valuable Resource, 2005


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Implications for Companies

A multigenerational workforce can provide a competitiveedge in the marketplace

Companies that value older workers and offer them

flexible arrangements will possess an advantage inrecruiting and retaining older workers

One way of showing that value is through corporatevolunteer programs that support older workers andretirees desire to stay engaged as they age



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Best Practices


That Engage Retirees


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Best Practices

State StreetCorporation Cargill

Verizon

XcelEnergy

IBM

Johnson & Johnson

Source: Boston College Center for Corporate Citizenship

(BCCCC), Expanding the Boundaries of Corporate

Volunteerism: Retirees as a Valuable Resource, 2005

Cargill

Boeing


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N i I t ti l 2010N i I t ti l 2010

Thank You!

Celina Pagani-Tousignant

[email protected]
mailto:[email protected]:[email protected]

Older Workers and Retirees Cologne

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