Grey Matters: Intergenerational Issues in the Workplace

1. Grey Matters: Intergenerational Issues in the Workplace Best Practices Larry Cohen, Manager Workforce Programslcohen@aarp.org | 202-434-3004

2. Agenda • Background – Age Cohorts, Demographic Trends • Business Case for Age Diversity - Highlights • What 50+ Workers Want • Key Strategies To Attract and Retain Older Workers • Additional Resources AARP

3. Common Experience + Shared Values Your Generation = CE + SV = YG Four Generational Cohorts • Each generational group has different needs shaped by their collective experience. • Each generational group has different expectations for their managers. • Challenge: Build management capability and culture to respond to expectations of age cohorts “Generations at Work” , Zemke, Raines and Filipczak, 2000. AARP

4. CE + SV = YG Four Generational Cohorts “Generations at Work” , Zemke, Raines and Filipczak, 2000. AARP

5. CE + SV = YG Traditionalists- 75 million • Great Depression • Disney’s Animation • WWII • GI Bill • Cold War • Pearl Harbor • Patriotic • Loyal • Make Due • Leave a Legacy • Fiscally Conservative • Faith in Institutions AARP

6. CE + SV = YG Baby Boom Generation80 million • Booming Birthrate • Suburbia Expansion • John Glenn in Space • Vietnam, Watergate • Anti-War Protests • Women's | Civil Rights • Sex, Drugs, Rock -n- Roll • $$ Prosperity, Recession • Competitive • Questions Authority • Their Own Way • Sandwiched • Optimistic AARP

7. From AARP’s Business Case: Employer Perceptions of Older Workers • Loyalty and dedication to the company • Come to work on time; low absenteeism • Commitment to doing quality work • Someone you can count on in a crisis • Solid performance record • Solid experience in job/ industry • Basic skills in reading, writing, arithmetic • Getting along with co-workers AARP

8. The Baby Boom Bulge Source: U.S. Census Bureau AARP

9. 60% 50% 40% 30% 51% 43% 20% 10% 14% 13% 10% 0% -7% -10% 20-24 25-34 35-44 45-54 55-64 65+ Fastest-Growing Age Cohort:55-64 Percent change 2002-2012 Source: Mitra Toossi, “Labor force projections to 2012: the graying of the U.S. workforce,” Monthly Labor Review, February 2004. AARP

10. We’re Losing Tomorrow’s Workers Today Fast Fact: Currently, two workers exit the workforce for every one entering • For every 100 students in 9th grade…. • Only 68 graduate on time…. • Of those only 40 enroll directly into college…. • Of those, only 27 are still enrolled the following year…. • Of those, only 18 earn an Associates Degree within 3 years or a BA within 6 years. -- Conference Board-- SHRM AARP

11. Skills Ahead Shortages Jobs with Current Shortages: • RNs and other health-related fields • Teachers • Public administration Jobs Likely To Have Shortages: • Highly skilled professionals • Engineers • Scientists • Skilled craft people AARP

12. Federal Retirement Tsunami:How many employees are eligible? • 44% in next 5 years • 61% total within next 9 years • 58% of supervisors by 2010 • 42% of non-supervisors by 2010 • 42% of senior executives by 2010 • Plus – 200K will resign • TOTAL = 900K potential losses of 1.9 million www.opm.gov AARP

13. The Business Case for Workers 50+Planning for Tomorrow’s Talent Needs in Today’s Competitive Environment • AARP study on the value of 50+ workers • http://www.aarp.org/erc AARP

14. Business Case: Key Findings Costs: Health & Retirement Benefits • Motivation: Increases With Age • Retention: Costs Are Low For Workers 50+ Fast Fact: Less than 30% of North American workers are fully-engaged at work, and the costs of a disengaged workforce runs into the trillions of dollars – Gallup AARP

15. Myths About Older Workers • Older workers can’t adapt • Older workers can’t handle technology • Older workers skill’s are not up-to-date • Older workers can’t get along with younger managers AARP

16. What Do 50+ Workers Want? • Money: a primary reason for working longer • Benefits: health care tops the list • Flexibility: a variety of work options AARP

17. Diversity Best Practices: Grey Matterspresented by Larry Cohen Attract and Retain 50+ Workers • Recruitment • Flexible Work Arrangements • Benefits • Work Environment • Training and Development Handouts:Workplace Strengths InventoryWhat Workers 50+ Want and What Employers Can Offer

18. Attract and Retain 50+ Workers • Brand: Brand Images are reflected in all of your channels • Messaging: Direct, personal and clear messages with content over flowery language. Use graphs and charts to convey ideas, rather than text. Focus on experience, skills and flexibility. Don’t refer to a specific age group when advertising jobs, instead, use “we welcome applicants of all ages.” • Word Choice: Avoid the words seniors, older, high energy, fast-paced and replace with words like conscientious, professional, and adaptable. Magic words are “flexible, part-time, and training. AARP

19. Examples of Branding from AARP’s National Employer Team Home Depot • Teamwork • Benefits • “Passion never retires” – The Home Depot • “Talent is ageless” – CVS Pharmacy • “Now hiring your wisdom” –Walgreens • “Reinvent Retirement” – Manpower, Inc. Adecco • “New beginning” • Temporary positions • Flexibility • Benefits AARP

20. The Conference Board Mature Workforce Initiative Employer-Practices Locator CVS: Snowbirds http://www.conference-board.org/eplocator AARP

21. Demographic Risk The Very Next Steps Answer These Key Questions About Your Company: Where are the most acute skills shortages likely to occur? • Which Occupations • Are they Hourly Employees • Are They In Your Services Groups • Are They Knowledge Workers • Will Shortages Occur Across the board AARP

22. AARP Workforce Assessment Toolhttp://www.aarpworkforceassessment.org • Employee Age Demographic and Skill Shortage Projections • Knowledge Retention • Flexible Work Arrangements • Training and Development Benefits • Workplace Accommodations • Positive Work Environment • Recruitment Handout: AARP Workforce Assessment Tool Description AARP

23. AARP Resources for Employers Employer Resource Center http://www.aarp.org/erc Workforce Assessment Tool http://www.aarpworkforceassessment.org AARP SmartBrief Bi-weekly E-newsletter/Clipping Service http://www.smartbrief.com/aarp AARP Website http://www.aarp.org AARP

24. AARP National Employer Team Adecco – Staffing and Security Services AlliedBarton Security Services – Staffing and Sec. Express Employment Professionals – Staffing and Sec. Kelly Services, Inc. – Staffing and Security Manpower, Inc. – Staffing and Security Robert Half International – Staffing and Security Spherion Corporation – Staffing and Security Vedior North America – Staffing and Security AT&T – Communications Comcast Cable – Communications Verizon – Communications Internal Revenue Service – Federal Government Peace Corps – Federal Government Office of Disaster Assistance (SBA) – Federal MetLife, Inc. – Financial Services New York Life Insurance Company – Financial Services Principal Financial Group – Financial Services SunTrust Bank – Financial Services Avis Budget Group / ABG – Transportation and Travel Schneider National, Inc. – Transportation and Travel • The Home Depot – Retail • Borders Group – Retail • CVS/pharmacy – Retail • Walgreens – Retail • Toys R Us / Babies R Us – Retail • Staples, Inc.- Retail • Johns Hopkins Medicine – Health Care • Quest Diagnostics – Health Care • Scripps Health – Health Care • Universal Health Services – Health Care • Bright Horizons Family Solutions – Caregiving • Home Instead Senior Care – Caregiving • Right at Home – Caregiving • Synergy HomeCare – Caregiving • AnswerNet Network – Business and Mkt. • News America Marketing – Business and Mkt. • Pitney Bowes, Inc. – Business and Mkt. • APAC Customer Services, Inc. – Business • Sitel Corp. – Business and Mkt. To Apply:http://www.aarp.org/employerteam

25. Grey Matters: Intergenerational Issues in the Workplace Your Hired!ThanksAARP Best Practices Larry Cohen, Manager Workforce Programslcohen@aarp.org | 202-434-3004