"Older Workers" in APA format
...on D.C. the old boomers between the ages of 48 to 56 are behind on saving for retirement which is two thirds of the aging population. There is an estimated 25 percent that have no retirement savings at all. (Wellner, 2002) EMPLOYER BENEFITS Older employees offer extraordinary opportunities to employers in today’s’ job market. John A. Challenger, executive vice president of Challenger Gray, & Christmas, a national outplacement firm, refers to the new older worker as the new workaholics. Challenger states the older worker has an upbringing where there was little or no training and a strong work ethic and family values. Accustomed to little or no training is very attractive to employers because it means there is an immediate start period and no delays from a training period. Challenger also states that the older worker may be an empty nester which means there is no time commitment any longer with raising children therefore affording more time dedication to the job (Berger, 2000). Superior work habits, dependability, customer service skills, low absenteeism, work ethic & pride, they do what they say they will do, and they appreciate having a job are just a few of the many benefits employers can expect from this older workforce.(Berger, 2000) CHALLENGES Employers need to be thinking of new benefits packages in order to attract and retain the older worker. For the older worker that has met financial goals benefits are important. Adding benefits such as elder-care benefits, wellness programs, home health care, and long term care insurance are more attractive than the salary alone. Flexible work arrangements or job sharing is another area for employers to explore to attract the older worker. Focus will need to be on individual development and not on professional development.(Beech, 2003) Human resource departments will be faced with challenges in updating compensation policies, flexible work arrangements training and benefits. The battle to attract and retain the older worker will be a team effort within organizations. Now is the time to be preparing and implementing plans for this workforce change. Mastering of new skills becomes more difficult for the older worker which requires continual training opportunities to keep the older worker refreshed. People learn differently at all ages but the older people get the more learning opportunities need to be expanded. Reaction times are slower and need consideration in the learning process as well as the performance process.(Sitzman, 2001) Allowing older workers to participate in the development of the training programs allows the employee to share experiences. This type of involvement is geared towards training with skill in mind of the older worker.(Wellner, 2002) Although significantly less thanks to the Age Discrimination in Employment Act (ADEA) the fact still remains the age discrimination is still a large concern. The most blatant forms are gone but there are still many subtle forms such as advancement, equal pay and benefits. AARP surveyed 1500 working people between the ages of 45 and 74 and found that 67 percent felt that age discrimination was just a fact of life. Advanced opportunities and job cuts for the older worker were top responses from the group polled.(Grossman, 2003) Older workers say that age-diversity training is important but not just for co-workers also for managers. Technology is another area where older workers have challenges because technology was not always a part of the workforce earlier in their careers. The younger generation has literally grown up with computers therefore technology is much less of a concern to operate or learn. Modifying the training process to accommodate the older worker is beneficial in the case. By the time the major wave of boomers hit the retirement age technology will be just as much a part of the older workers life as it is with the younger generations. Currently according to Deloitte & Touches Canathan Technology Fast 50, the fastest 50 high tech CEO’s are between the ages of 40 and 49. There is 22 percent that are between the ages of 50 and 59. Drake Beam MorinCanada Inc. states that a persons age can not be sole consideration it is the part of the attitude that really matters especially in the IT department.(Bolan, 2000) The high tech industry is no longer being thought of as just a young person’s industry. CONCLUSION Millions of baby boomers are looking towards retirement which will have a huge impact on the worker shortfalls. The new social security laws allowing workers from age 65 to 69 to earn as much as they desire without the earnings affecting the retirement benefits is another great incentive for older workers to continue working either in their current positions or changing career paths. The AARP reports that the boomers in their 50’s are looking forward to retirement but not in the traditional sense of rest and relaxation. The boomer population wants to remain active and plan on staying in full time positions or part time positions. The study shows that the majority of the 76 million boomers 80 percent plan on working at least part-time after they retire and five percent will work full time.(Berger, 2000) Since March 2001, when the last recession began, the percentage of working people in the population of 66 years to 64 has steadily risen. As the economy recovers and the participation of older workers in the workforce continues to increase, employers will need to provide the kind of incentiv...