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Retirement News
Older Workers May Get Help from New Research
Initiative
To study the inclusion of late-career workers in
corporations and organizations
June 7, 2006 Older workers, a growing demographic
in the workforce many passed typical retirement age, often express
dissatisfaction with how they are treated by employers and younger
workers. There is hope. Building on more than 25 years of research on
older workers in the workplace, The Conference Board, is launching an
expanded maturing workforce research initiative.
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Older Workers Underappreciated in Workplace, Says
Survey
Baby boomers and senior
citizens not considered good source of advice
April 26, 2006 Three quarters of older,
experienced workers age 55 and older said they relate well to
younger co-workers, but the sentiment is not returned by the young
employees only 56 percent say they relate well to older workers. Even
more startling in the new survey: 77 percent of the young workers say
their contemporaries do not seek advice and guidance from their seniors.
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more...
Retirement Plans Filled with Holes for Many Americans
Haven't saved enough and underestimate their needs
April 11, 2006 - A large majority of Americans expect to enjoy a
comfortable retirement, but many have not taken the actions needed to
turn their aspirations into reality and face the prospect of having to
work far longer than they expect, according to the 16th annual
Retirement Confidence Survey. The survey, released today, showed many
Americans retirement expectations are like a piece of Swiss cheesefull
of holes.
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Tough Retirement Ahead for Americans Relying on
Social Security, Pensions
Almost half expect
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April 4, 2006 - Many Americans are headed for tough
retirement years and may not be able to maintain their current standard
of living, suggests a new poll conducted by Harris Interactive for the
American Institute of Certified Public Accountants. The CPAs are also
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Study of Older Americans Finds Retirement More a
'State' Than a 'Date'
Limited savings,
longer life conflict with desire for self-employment, part-time work
April 3, 2006 Older workers today are changing
the concept of retirement as they live longer and work well past
traditional retirement age - some even returning to the workforce after
they "retire" and/or opting for "portfolios" of paid and volunteer
positions, according a new MetLife Mature Market Institute study, Living
Longer, Working Longer: The Changing Landscape of the Aging Workforce.
As an example of the state of retirement, this study says 37 percent of
those age 66-70 are either working of looking for work.
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Most Americans Worried About Retirement Costs but
Not Preparing
March 19, 2006 Several recent surveys are
pointing to a certain crisis for America as the cost of retirement and
health care spirals upward and the financial ability of senior citizens
to cope with these costs is inadequate. One survey released this month
found more than half of all Americans are worried about their retirement
security, yet, 29 percent did not save a dollar last year in
preparation.
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Current Retirees Need at Least $200,000 for Couples
Health Care
March 17, 2006 If you are age 65, married, ready
to retire and have $200,000 available, you can probably pay for your
medical costs in retirement.
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Changing View on Retirement May Allow You to Retire
Sooner
April 10, 2006 -
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on
Retirement News |
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The Conference Board, celebrating its 90th
anniversary, will examine the practices and policies of major employers
and business community leaders and related concerns and needs of todays
mature workforce. The Conference Board plans to share promising
practices for creating and maintaining a workforce inclusive of all
generations.
The effort received support from the Atlantic
Philanthropies USA, Inc., in the form of a three-year, $2 million grant
to study the inclusion and engagement of late-career workers in
corporations and not-for-profit organizations.
Some 64 million baby boomers active in the U.S.
labor force are poised to retire in large numbers by the end of this
decade or continue working.
It is more appropriate than ever to launch this
initiative during our 90th anniversary year because The Conference Board
was founded in 1916 by a group of visionary CEOs who believed that they
could both perform profitably and in the public interest, says Linda
Barrington, Research Director and Labor Economist, and co-director of
the grant project team with Lorrie Foster, Executive Director, Councils
and Working Groups at The Conference Board.
Analyzing the opportunities and challenges that
the aging of the workforce presents to business aligns perfectly with
our continuing mission to help businesses perform better and better
serve society, she added.
The maturing workforce initiative at The Conference
Board is underpinned by strong research capabilities in Strategic
Workforce Planning, Talent Management, and Employee Engagement.
According to Foster, A unique strength of our
research is that the Research Working Group model keeps it real. The
Conference Board Research Working Groups bring together consortia of
executives interested in actionable research on specific business
issues. In these groups, we have front-line executives serving as
research advisors and resources, adds Foster.
The maturing workforce initiative at The Conference
Board will convene separate Research Working Groups on mature workforce
issues in the private and not-for-profit sectors. Marketplace
opportunities related to the aging U.S. population will also be
addressed in research from the Consumer Research Center at The
Conference Board.
The Conference Board work will look at mature
workers in two distinct rolesas employees and as potential retirees. It
will focus on problems facing mature workers, the costs and value of
mature workers, the hidden values of their job satisfaction, the impact
of rising healthcare costs on these workers, emerging opportunities from
aging consumer markets, prospects for building a better
intergenerational workplace, and models for retirement. It intends to
create new strategies to help major employers leverage the skills of
employees who are late into their careers. The initiative will also
periodically issue timely briefings and updates.
The Conference Board initiative team also includes
Jeri Sedlar, Senior Advisor to The Conference Board on Mature Workforce
Issues, and author of the best-selling Dont Retire, Rewire!, and
academic researchers and topic experts who will collaborate with other
research organizations working in this field.
The Conference Board took the lead in research on
mature workers last year with the publication of Managing the Mature
Workforce, a definitive study on how the role of the mature worker is
rapidly changing in todays workplace.
The Conference Board also published a short
follow-up report (Age and Opportunity: Plan Strategically to Get the
Most Out of a Maturing Workforce) in April which found that companies
benefit by thinking of the issue of managing a maturing workforce as
more than a negative (a problem to be dealt with). The companies who are
succeeding in getting the most of older workers view the problem
strategically as an opportunity for change within the organization.
The report advises that even the most basic HR
strategy designed to deal with the challenges posed by a maturing
workforce should include three goals: capture critical
knowledge/expertise of retiring workers and transfer it; develop
flexible work arrangements and benefits to suit needs of valued
retirement-eligible employees; and create a culture welcoming to
employees of all generations.
The report also states that while 90 percent of
survey participants in a pulse poll of The Conference Board Councils for
Talent Management and Diversity executives said managing mature workers
was either a very or fairly important business issue for them, only 55
percent had conducted a strategic workforce analysis to determine the
profile of their employee populations.
The next report from The Conference Board on these
issues will be Strategic Workforce Planning, to be published later this
month.
About The Conference Board
Not-for-profit and non-partisan, The Conference Board is one of the
worlds leading research and business membership organizations. It
produces the widely-watched Consumer Confidence Index, Help-Wanted
Advertising Index, and Leading Economic Indicators for the U.S. and
eight other major nations. The Conference Board is also noted for its
economic forecasts and CEO surveys, and for its studies on global
productivity, corporate governance, business ethics, corporate
citizenship, workplace diversity and mature workers. Its conference and
council programs attract more than 18,000 senior executives each year.
http://www.conference-board.org.
About Atlantic Philanthropies USA, Inc.
The Atlantic Philanthropies are dedicated to bringing about lasting
changes in the lives of disadvantaged and vulnerable people through
grant-making. Atlantic focuses on critical social problems related to
aging, disadvantaged children and youth, population health, and
reconciliation and human rights. Programs funded by Atlantic operate in
Australia, Bermuda, Northern Ireland, the Republic of Ireland, South
Africa, the United States and Viet Nam. To learn more, please visit
http://www.atlanticphilanthropies.org.
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