The Graying Workforce
Russ Knight, CEAP, CACII, SAP
I was still pursuing my bachelor’s degree
by attending the University at night when I landed my first full time counseling
position with a state agency. Even though I was not yet a college graduate,
this was a senior level position for this agency. I was replacing a gentleman
who had successfully been in the position for many years. He was widely
respected by his clients, coworkers and manager. They all referred to him
as, Mr. Jim. He had received the highest annual reviews during his
entire career with the agency. His wisdom was so revered, that many coworkers
and senior managers would tell me stories for many years later, about the
times that they sought his counsel for their personal and professional
lives.
Even though Mr. Jim had a stellar record
and he would loved to continue working for years, he had placed the state
in a position where they had no choice but to force him to retire. No one
wanted to lose the skills and commitment this employee brought to his job
every day. His health was good and he had the energy level that would make
many of us envious. Still, he had done something that left the state
and the agency no other choice. Mr. Jim had achieved his sixty-fifth birthday
and the law was clear. He must retire. They did bend the rules to allow
him to work two more weeks so that he could try to orientate me to the
job. I was a very naive twenty something with no inkling about the skills
that he would be “retiring” and he had two weeks to prepare me to replace
him.
About 36 years have passed since my two
weeks with Mr. Jim. Even though his task of preparing me for the job in
two weeks was impossible, I still think often of some of the pearls of
wisdom he did share during our brief time together. I actually ran into
him in a restaurant over 20 years after our orientation time. His wife
had passed away several years before and he was 86 years old. He remembered
me and so many details about me and my family. He was very excited to introduce
me to his “new young wife,” who was a cheerful 72 year old lady that was
having lunch with him that day. As I left the restaurant, I was amazed
to think about what a loss the state suffered by forcing Mr. Jim to retire
so he could be replaced by me.
Today he would not have had to retire.
The state has no mandatory retirement age and in fact most employers now
do not have an age where people are forced to retire. One of the main provisions
of the Age Discrimination in Employment Act is that employers, with very
few exceptions, can no longer force an employee to retire.
On average, 7918 Americans turn 60 years
old every day.1 There are more than 78
million baby boomers living in the U.S. and nearly 20 million of them have
at least one college degree.2 By 2014,
21 percent of the workforce will be 55 or older.3
As these Boomers enter the age that forced Mr. Jim to retire, they are
redefining the age. Many will choose to work well past the age of 65, either
for the same employer as before, or in a completely new area. A lot of
these employees are saying, “I’ve earned my retirement, now let me decide
what work I really want to do.”
This new group of workers has realized
there are so many more choices other than continuing to do the same job
at 100% or not working at 100%. So many are going back to colleges and
universities that many of these schools are building elaborate retirement
communities that are tied to the institution. Many of the schools offer
reduced or free tuition for those over the age of 60 and are finding that
more than a few are jumping at the chance. These seniors are gaining even
more skills and knowledge that they can add to their years of experience.
Forward thinking employers are seeing the
writing on the wall. The expanding economy is anticipating widespread labor
shortages and here is a ready made source of highly experienced and educated
workers. They can be tremendous bargains in terms of contribution to the
organization for the dollar. The challenge is how to attract and optimize
this very lucrative human resource. They are finding the answers by asking
the Boomers. Among the answers:
Look at more vacation, both paid and unpaid.
They may want to do some traveling but not all year. For example, allow
them to take the normal vacation or PTO, plus have two additional months
of unpaid leave without losing seniority and benefits.
Identify positions where they can best
teach and share their knowledge. This can provide satisfaction beyond the
salary for many.
Identify job sharing possibilities. You
may be able have the benefit of two for the price of one.
Identify Work From Home jobs.
Find ways to continue to challenge the
older worker. Jobs that are challenging and interesting may look more attractive
than “the old grind” at higher pay.
Design jobs that allow people to ease into
retirement over time.
Continue to explore solutions to the challenge
of retaining talent and knowledge that are win/win for both the employee
and the organization.
Another real opportunity for non-profit
organizations is in using Boomers on the board. These professionals
may be looking for opportunities for contributing and serving on a non-profit
board of directors can accomplish that with much more satisfaction than
simply writing a check to a charity.
The best directors will be able to determine
the skills needed and recruit the board accordingly. If the agency has
a tight budget, would a retired CPA with time to contribute make as much
sense as hiring a bookkeeper?
Older workers will be the fastest growing
population for many years to come. A real concern is that the younger workers
will have to maintain the economy and provide support for the Boomers.
I believe the older workers can actually be a vital part of the solution.
I’m now wondering if it would be possible for me to contact Mr. Jim and
get his take on it.
1Time; July 3,
2006; U.S. Census Bureau
2Time; July 3,
2006; National Center for Education
3U.S. Bureau of Labor
Statistics
Russ Knight is Regional Vice President
for First Sun Solutions, and is currently serving as District Director
– Upstate for the SC State Council of the Society of Human Resource Managers
SHRM.
