diversity at work
Demand for older workers set to quickly increase
[img_assist|nid=2476146|title=|desc=|link=none|align=left|width=480|height=469]American workers that are age 55 and older, once seemingly confined to being greeters at Wal-Mart or bagging groceries, are emerging as one of the most sought after diversity groups for employment in a variety of industries. Smart, forward-looking executives know that a labor shortage is sure to come, and they know that in order to get the work done and to keep their companies growing, they will need to find ways to employ retired people and older workers looking for a second career.
And that’s good news, because according to a national survey conducted by the American Association of Retired Persons (AARP), 69 percent of individuals between the ages of 45 and 74 who are looking for work or currently working plan to continue working in some capacity during their retirement. In addition, 68 percent of workers between the ages of 50 and 70 who have not yet retired reported that they will either never retire or that they plan to work in some capacity during their retirement years.
An increasing amount of older individuals—even those who are already retired— want to get back into the workforce in jobs that are different from what they did in their careers. According to forecasts by the AARP, by the year 2012, 20 percent of the total US workforce will be age 55 or older, nearly a 7 percent increase from the year 2000.
The main reason that older workers are passing up retirement, continuing to work, or reentering the labor force is the increased cost of living: they simply need the money. Likewise, as a result of the recent corporate scandals that have destroyed pension funds and the dwindling Social Security and Medicare coffers, many older workers are not confident that they will be able to achieve financial security in their golden years without continuing to work.
Many experts feel that as the US labor supply begins to shrink, there will be strong competition among employers for skilled and talented older workers. Health care companies, financial services firms, and telecommunications corporations have already realized the need for older workers and are aggressively recruiting them.
And that’s good news, because according to a national survey conducted by the American Association of Retired Persons (AARP), 69 percent of individuals between the ages of 45 and 74 who are looking for work or currently working plan to continue working in some capacity during their retirement. In addition, 68 percent of workers between the ages of 50 and 70 who have not yet retired reported that they will either never retire or that they plan to work in some capacity during their retirement years.
An increasing amount of older individuals—even those who are already retired— want to get back into the workforce in jobs that are different from what they did in their careers. According to forecasts by the AARP, by the year 2012, 20 percent of the total US workforce will be age 55 or older, nearly a 7 percent increase from the year 2000.
The main reason that older workers are passing up retirement, continuing to work, or reentering the labor force is the increased cost of living: they simply need the money. Likewise, as a result of the recent corporate scandals that have destroyed pension funds and the dwindling Social Security and Medicare coffers, many older workers are not confident that they will be able to achieve financial security in their golden years without continuing to work.
Many experts feel that as the US labor supply begins to shrink, there will be strong competition among employers for skilled and talented older workers. Health care companies, financial services firms, and telecommunications corporations have already realized the need for older workers and are aggressively recruiting them.
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