AARP Survey Explores Plans and Motivations for Michigan Seniors Working Past Retirement.

A survey of AARP residents in Michigan finds that retiring comfortably at age 62 is not a reality for many who expect to work well past the traditional retirement age due to increased longevity and rising health care costs. In particular, 36% work full-time and 9% part-time, and 49% consider it extremely (27%) or very (22%) likely that they will continue working beyond retirement. The most common reasons for continuing to work cited were;

• health insurance coverage (54%);
• enjoy working (45%);
• need for extra income (44%); and
• paying for prescription drugs (41%).

The survey also reports that 50% plan to work part-time and pursue hobbies when they reach the retirement age, while 37% intend to work at their current jobs as long as possible. With respect to when they will retire, 23% think they will retire at age 60-64, 37% at 65-69, and 20% at age 70 or older.

Sources: AARP Research Report (July 2008); Battle Creek (MI) Enquirer "Work at 50-Plus: New age of possibility and purpose" (July 1, 2008)

AARP Adds Federal Agencies as It Expands Its "National Employer Team"

AARP has announced that it has expanded its program connecting 50+ workers with employers who recognize the value of their experience and skills. In growing its "National Employer Team" to 38, AARP added the Internal Revenue Service, the U.S. Small Business Administration Office of Disaster Assistance, and the Peace Corps, becoming the first federal agencies to join the team.

National Employment Team employers undertake a detailed application process to demonstrate their interest in hiring mature workers. AARP’s website provides information on the employers and the positions they have posted on their websites, along with links to each employer’s AARP career page.

Source: AARP News Release (January 17, 2008)

Internet Radio Podcast Series Launced for Jobseekers Age 50 and Over Who Need to Remain Employed

"Job Security 50+ How To Be Employable for Life"--a radio pilot program aimed at jobseekers over the age of 50--has been launched by Jackstreet Media and AARP. The program, cohosted by AARP's Director of Employment Security Deborah Russell and author Anthony Burnham, is designed to serve the needs of mature workers who either want or need to work beyond the traditional age of retirement. The program aims to help older workers stay on top of the skills, insights, and new resources needed to get and keep a good job at 50 and beyond.

Programs are streamed over the computer or can be downloaded to an mp3 player. and may be streamed via computer or downloaded to an mp3 player. Currently, there are monthly programs of around 10 minutes each. For example, the November 1 program was almost 13 minutes long on the topic "Thew New Face of Work in America" and featured James O'Toole, who served as Chairman of the National Task Force on Work in America.

Source: News Release (December 6, 2007)

AARP Creates Workfore Assessment Tool

AARP has announced the creation of a new online tool to help employers assess their current and future workforce needs and the impact of an aging workforce. The AARP Workfore Assessment Tool is available free to employers and requires the use of Adobe Reader. The tool automatically generate a report that can help an employer:

• Assess any potential impact the aging workforce will have on the organization;
• Map out current employer practices and identify areas for improvement;
• Provide recommendations on how to maximize the experience of an organization's older workforce; and
• Provide an inventory of workplace strengths that can be used to enhance the employer's brand.

Source: Casa Grande Valley Newspaper "Assessment tool helps employers prepare for aging workforce" (November 20, 2007)

AARP Announces 2007 Best Employers for Workers Over 50

In introducing its picks for the 2007 AARP Best Employers for Workers Over 50, AARP highlighted the number of major multi-national corporations demonstrating that enlightened policies toward 50+ employees make good business sense. Thus, for its top position, AARP named SC Johnson, a company based in Racine, Wisconsin, with operations in more than 70 countries, which, among other forward-looking practices, offers a range of flexible work arrangements that enable workers to balance their professional and personal lives--including an on-site medical center and various wellness, fitness and recreation programs; an on-site education program that provides lifelong learning and college credits; and paid sabbaticals to experienced employees.

Announcing that selection, along with the Principal Financial Group, its 9th selection, and Michelin North Americam, its 44th, AARP CEO Bill Novelli said that "[i]nternational companies that take a world class approach in their policies toward 50 and over workers understand that the result is more productive employees."

AARP alsp announced the winners of its annual Bernard E. Nash Awards for Innovation. Chosen from all applicants for the Best Employers honor, AARP singled out Mercy Health System of Janesville, Wisconsin, for flexible work options; Intuitive Research and Technology Corporation of Huntsville, Alabama, for retiree work opportunities; and Blue Cross Blue Shield Association of Chicago, Illinois, for training and development opportunities.

Source: AARP News Release (September 25, 2007)

Survey: Talent Gap Widens as Workforce Ages in G7 Countries

According to a study conducted by Towers-Perrin on behalf of AARP, as the number of workers reaching traditional retirement years increase in the G7 countries, the marketplace is experiencing a decline in the number of skilled younger workers available to fill in the ranks of those retiring. Thus, suggests AARP, employers must end age discrimination in the workplace if countries and employers are to be best positioned to thrive in the global economy tomorrow.

The study--International Profit from Experience--was released in advance of a conference on the same sponsored by AARP, in partnership with the European Commission, the Business Council for the United Nations and Nikkei. Among the survey's key findings:

• Age discrimination is the single largest barrier for those 50+ who want to continue working past their anticipated retirement age, with at least 60% of employees 50+ in each G7 country viewing age discrimination as the primary barrier to securing new jobs;
• Older workers in the G7 countries want to continue to work on average an additional 5 years;
• Surges of immigration and productivity that might offset the anticipated decline in skilled workers are unlikely to occur; and
• Allowing employees to continue working past their traditional retirement age will not only allow older workers to remain in their careers and stay active, but will have a positive impact on an employer’s bottom line.

Line Vreven, Director of AARP International, says that “While the survey clearly identifies the talent gaps emerging within G7 countries, the responses by employers do not sufficiently address this challenge.” In addition, those "nations working to actively retain older workers and are providing incentives, rather than deterrents, to their continued employment, will reap economic gain in the long-run.”

An executive summary of the full 124-page report is also available.

Source: AARP Press Release (September 25, 2007)

Survey: AARP Finds Many Michigan Members Working Past Traditional Retirement Age

A mail survey of 3,000 Michigan AARP members age 50 to 62 finds that retiring comfortably at age 62 is not a reality for many of them who expect to work well past the traditional retirement age due to increased longevity and rising health care costs. In the research report written by Erica L. Dinger, J.D., AARP Knowledge Management--"What Retirement? Working and Learning for AARP Members in Michigan", of the 832 members currently working or looking for work:

• 36% work full-time and 9% part-time;
• 49% consider it extremely (27%) or very (22%) likely that they will continue working beyond retirement;
• 54% say health insurance coverage is a major factor in their decision to continue working, while 45% enjoy working, 44% need extra income, and 41% need income to pay for prescription drugs;
• 37% intend to work at their current jobs as long as possible;
• 23% think they will retire at age 60-64 and 37% at 65-69; 20% estimate retiring at age 70 or older.

Source: AARP Policy & Research (September 2007)

Survey: AARP on Georgia's Aging Workforce

A report developed by AARP in cooperation with the Georgia Budget and Policy Institute and the Georgia Department of Labor shows that between 2005 and 2025, fewer people will be entering the job market even as the demand for workers increases because of two trends: Georgia’s age 65+ population will be increasing considerably while its under-age-24 segment will be shrinking and, at the same time, the state’s economy will be expanding.

The report--White Collar, Blue Collar, Gray Hair: The Changing Composition Of Georgia's Workforce--written by Anita Stowell-Ritter concludes that if employers in Georgia are to maintain their competitive edge, they "will need to reach out to mature workers. Doing so may necessitate employers embracing a new vision of how work is done." The report provides a guide to the shifting landscape of work in Georgia with a compilation of employment projections, specific occupational profiles, and job trend indicators.

"We're going to have to change the culture of work because older workers are going to be the workers for the next 20 years," said Alan Essig, executive director of the Georgia Budget and Policy Institute, which also worked on the report. "The business community's going to have to figure out ways to reach older workers, or they're not going to be able to compete."

Source: AARP Research Report (May 2007)

Additional Source: Atlanta Journal-Constitution "Help wanted from older workers" (May 23, 2007)

Survey: AARP Explores Employer Readiness for Boomer Retirements in New York

According to an AARP survey conducted in late 2006, New York businesses understand the value of the knowledge and experience employees gain while working for an organization, particularly over long periods of time. Furthermore, most place a high level of importance on retaining departing employees’ wisdom and recommendations—however less than a third have an organizational process in place to preserve such institutional knowledge.

The survey--Preparing for an Aging Workforce: A Focus on New York Businesses--written by Katherine Bridges and David Cicero finds that, among other things, while 62% of employers believe their business is likely to face a shortage of qualified workers within the next five years, only 23% have taken steps to prepare for potential worker shortages due to baby boomer retirements. In addition:

• 11% say they are offering incentives to encourage their employees to delay retirement
• 72% say it is extremely or very important to retain institutional knowledge that might be lost when employees retire or otherwise leave (although only 34% have a formal process in place enabling employees to pass on their knowledge and experience before they leave
  
• 39% offer reduced work schedules for those considering retirement, mostly on an informal, case-by-case basis, but only 6% of those offering this option have a formal phased-retirement program

Source: AARP Research Report (May 2007)

Survey: AARP Finds High Interest in Nevada in Working after Retirement Age

According to an AARP membership survey in Nevada, 32% say they are extremely (21%) or very likely (11%) to work beyond retirement, but slightly more (36%) say that for them it's not at all likely. The report was prepared by Jennifer H. Sauer, M.A., AARP Knowledge Management, for AARP Policy & Research.

In the "AARP Nevada Survey of Members: Work and Retirement", needing extra income was a major factor in the decision of those likely to continue working beyond retirement, but having health insurance coverage, building up a savings, enjoying work or the job, and paying for other health related costs are also factors influencing members to delay retirement or work again after retirement.

Employers interested in retaining or recruiting mature workers should note that AARP members in Nevada who are likely to continue working through traditional retirement indicate that flexible work schedules and incentive pay are highly influential factors in their decision to keep working. Additionally, two-thirds of those likely to keep working say a that a job allowing them to use their skills and expertise is extremely or very important to them, and half say that a job suited to family and personal life is also extremely or very important to them when thinking about working beyond retirement.

Source: Research Reports "Survey of AARP Nevada Members" (February 2007)

Survey: Alabama Firms Not Prepared for Retirement

According to a survey of 348 Alabama employers conducted for the AARP, while 95% percent say it is no less than “very important” for their organization to retain skilled employees, only 11% report having taken actions to prepare for the retirement of baby boom workers.

The report--Alabama Survey of Employers’ Practices for Managing An Aging Workforce--found that in order to accommodate workers interested in working beyond normal retirement age, employers were were planning or considering: (1) enabling employees to ease into retirement by reducing their work schedules (49%); (2) hiring retired employees (47%); (3) providing part-time work arrangements without continuation of benefits (45%); and (4) upgrading training (43%).

Source: AARP Policy & Research Research Report (August 2006)

Other Sources: The Huntsville Times "Too few firms in state are planning for retirement" (December 3, 2006); The Montgomery Advertiser Survey: Firms not ready for boomers' exit (December 5, 2006); The Birmingham News "Baby boomers reaching point of mass retirement" (December 1, 2006)