Employers Bending to Keep Boomers Working
A significant trend is emerging as one of America's 77 million Baby Boomers will be turning 60 every 7 seconds for the next 18 years: employers are finding ways to keep them on the job longer -- effectively countering thoughts of retirement. In many cases, this is a win-win scenario for both parties.The Baby Boomer generation is twice the size of any before it. Quite simply, many companies cannot afford a mass exodus of their most talented and productive workers in the next few years. Here, lost time in hiring replacements, high training costs and long learning curves are key bottom-line factors. One Atlanta-based accounting firm, Callaway Partners, employs 450 workers -- 90 percent of whom are Baby Boomers. Co-founding Partner Bruce Cox noted that Boomers are distinguished by their strong work ethic and solid integrity, priceless qualities for any organization. He also said, "they're the best workers we feel like we could imagine to put on our accounting projects."
Born between 1946 and 1964, a high proportion of Boomers are not ready to completely "hang it up," either. Surveys have shown that they expect to live at least two decades after turning 60. Approaching that milestone, many have no plans to suddenly retire to lives of pure leisure, as did their parents. Often, the desire is to phase into full retirement over several years. Research director Todd Harris of PI Worldwide fully supports flexible work schedules as a retention enticement for Boomers:
"Realizing that -- hey, maybe a Baby Boomer only wants to work 20 or 25 hours a week or wants to work every other day or only wants to work on certain projects -- having that flexibility is very important."
Not surpirsingly, many employers are now accommodating Boomers with flexible schedules and benefit packages. For example, one company lets its Boomers have Wednesday afternoons off to play golf. Others provide time for workers to assist their elderly parents.
At any rate, organizations desire to retain proven performers by keeping their work environments enjoyable, imaginative -- and even convenient.
~ BoomersTips ~
posted by B. Boomer @ 3:55 PM
5 comments
5 Comments:
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