older workers and retirees as volunteers: an untapped resource
DESCRIPTION
Celina Pagani-Tousignant is the president and founder of Normisur International, an international management-consulting firm that specializes in Corporate Social Responsibility (CSR), Community Involvement, Work/Life (W/L), Diversity, and Executive Coaching. She also works as a Research Assistant for the Sloan Center for Aging & Work at Boston College. In this presentation, Celina shows why companies should also target their retirees for their Corporate Volunteering Programs.TRANSCRIPT
Normisur International 2010 Normisur International 2010
Older Workers and Retirees ���as Volunteers:���
An Untapped Resource ���Bürgerengagement ���
von Senioren ���June 25, 2010
Cologne, Germany Celina Pagani-Tousignant
President, Normisur International Faculty, College Center for Corporate Citizenship,
Center for Corporate Citizenship Deutschland Tecnológico de Monterrey
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Agenda
• Time of Transformation • Aging Process • Retirement Plans • Employment Patterns • Corporate Volunteer Programs • Best Practices: How to Engage Retirees
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Older Workers
Time of Transformation
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Older Citizens
Older Adults
Traditionals
Mature Workers
Veterans
Experienced Workers
Baby Boomers
Adult Workers
Older Workers
Senior Workers
What Name?
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How Old?
• 45 and older • 50 and older • 55+ • People in their 60s. 70s. 80s, and 90s • 65 and over
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Changes in Society
Percentage of population in U.S. ages 50 and older:
13% in 1900 27% in 2000 Over 35% in 2020
Source: Sloan Center on Aging & Work, “How Old Are Today’s Older Workers?”, 2005
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Labor Force Changes
• Past Percentage of older workers had
little impact on the age composition of labor force
Labor force exit was predictable between ages (62-65)
Source: Sloan Center on Aging & Work, “Older Workers’ Preferences for Work and Employment”, 2009
• Present Had most significant increases in
participation over a 30 year period
U.S. older workers (45 and older) comprise 37% of labor force
Half of working adults ages 50-64 may delay retirement
16% may never stop working
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Dramatic Changes
• Older Workers: • Aging process • Retirement plans • Employment patterns
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Older Workers
Aging Process
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Aging Process
• Past Fear of growing old Negative perceptions Old age=role less Checked out Time disengagement Nursing home Depression and anxiety
Source: Sloan Center on Aging & Work, “Engaged as We age”, 2010
• Present Added years longevity and health Well-being and vitality Older workers want to keep
learning, working, volunteering and contributing to society
Want to live life to fullest Employment is compatible with
retired living
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Successful Aging
Models of Aging: From Disengagement to Engagement
1950 1960
1990
2000
2005
2010
Disengagement Theory
Source: Sloan Center on Aging & Work, “Engaged as We age”, 2010
Produc:ve Aging
Meaningful Aging
Engaged as We Age
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Avoiding Disease & Disability
Engagement
with Life High Cognitive & Physical Function
Successful Aging
Successful
Aging
Source: Rowen and Kahn
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Other Models of Aging
• Productive Aging
• Elaborates on “Engagement with life”
• “Activities that produce goods and services, whether paid or not”
• Focuses on: work, volunteering and care-giving
• Meaningful Aging
• Model that endows later life with dignity and value in spite of illness and frailty
Source: Sloan Center on Aging & Work, “Engaged as We age”, 2010
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Beyond Involvement to Engagement:
• Source: Sloan Center on Aging & Work: “Engaged as We Age”, 2010
Volunteer Activities
Educational Activities Engaged as
We Age
Paid Employment
Care-giving Activities
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Older Workers
Retirement Plans
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Retirement • Past Retirement=subsidized vacation Event To be or not to be in the labor
workforce
Source: Sloan Center on Aging & Work, “Down Shifting: The Role of Bridge Jobs After Career Employment”, 2007
• Present Gradual process Shift gears by reducing work
hours, changing jobs to new lines of work, leaving a career job, remaining on the career job, working part-time, phased retirement, going back to school, consulting, volunteering or having a bridge job
Stop working altogether
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Older Workers
Employment Patterns
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Are Employers Getting Ready for the Demographic Changes?
• AARP (American Association of Retired Persons): “Best Employers for Workers Over 50” in 2001
• 45% HR professionals: their workplaces are just becoming aware of these changes
• SHRM (Society for Human Resource Management) reports 43% members see a problem with loss of talent associated with the retirement of baby boomers
• Source: Sloan Center on Aging & Work, “Businesses: How Are they Preparing for the Aging Workforce?”, 2005
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Why should companies care?
Human Capital & Diversity
Multigenerational teams
Knowledge transfer
Aging workforce
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New Ways of Working
• Global workforce • Competition • Operations 24/7 • High technology • Pressure for innovation • Four generations at the workplace
• Source: Sloan Center for Aging & Work
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Four Generations at the Workplace
• Veterans 1922-1943 (52 million)
• Baby Boomers 1943-1960 (73.2 million)
• Generation X 1960-1980 (70.1 million)
• Generation Y 1980-2000 (69.7 million)
• Source: Generations at Work, Zemke, Raines & Filipczak
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Business Case: Older Workers
Low turnover rates
Higher performance and productivity More
reliable
Stronger work ethic Higher
customer satisfaction
rates
Reputation
Serve as mentors Invaluable experience
Willing to work different schedules
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Quality of Employment
Source: Sloan Center for Aging & Work, “Employers of Choice in Countries of Choice”, 2007
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What is His Story? Married?
Are his kids in college? Middle School? New baby?
How is his health?
What is he looking for from his job?
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Age Matters
• Chronological • Generation
• Career Stage • Life Stage
• Source: Sloan Center on Aging & Work, “Age and Generations Study”, 2009
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Succesful Aging
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Quality of Employment by Age/Generational Groups
• Source: Sloan Center bon Aging & Work, “Age and Generations Study”, 2009
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Drivers of Employee Engagement
Characteristics Employees Bring to Work
Age (being older) Gender (being female) Elder care status (not having elder acre
responsibilities) Household income Mental health (better) Physical health (better) Core self-evaluation (having a better perception
of self)
Source: Sloan Center on Aging & Work, “Engaging the 21st Century Multi-Generational Workforce”, 2009
Workplace Characteristics
Number of hours worked (more hours) Satisfaction with training & development Assessment of culture of flexibility Perception of supervisor support Perceptions of inclusion Perceptions of job security
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Drivers of Employee Engagement: Older Baby Boomers
Characteristics Employees Bring to Work
Mental health (better) Core self-evaluation (having a better
perception of self)
Source: Sloan Center on Aging & Work, “Engaging the 21st Century Multi-Generational Workforce”, 2009
Workplace Characteristics
Number of hours worked (more hours) Perception of supervisor support
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Older Workers
Corporate Volunteer Programs
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Trends in Volunteerism Among Older Adults
• According to 2009 surveys by Hartford and AARP,
• 50% of older adults over age 50 volunteer/over 40% of older adults expect to increase the amount of time spend in volunteer work in the next 5 years
• Older adults (55 to 64 years of age) like to provide managerial and professional assistance when they volunteer
• Collecting food and/or providing office services are volunteer activities preferred by older adults age 65 and over
• Source: Sloan Center on Aging & Work, “Trends in Volunteerism Among Older Adults”, 2010
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Challenges
• Insufficient connections between older adults and potential volunteer opportunities
• Outdated volunteer models and opportunities • Transportation • Cost barriers
• Source: NGA Center for best Practices, “Increasing Volunteerism Among Older Adults: Benefits and Strategies for States”, Issue Brief, 2008
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Timely Study: 2005
• Ranks of retired worker population will grow in the next decades
• Retirement is being redefined as a transition between paid work and retirement (bridge jobs, phase retirement and post-retirement entry to the workforce)
• Corporate volunteer programs represent a way through which older workers, retirees and/or alumni can remain engaged and make significant contributions
• Source: Boston College Center for Corporate Citizenship (BCCCC), “Expanding the Boundaries of Corporate Volunteerism: Retirees as a Valuable Resource”, 2005
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Corporate Volunteer Programs
• Lack of connection between employee volunteer programs and the changing nature of retirement in the U.S.
• Source: Boston College Center for Corporate Citizenship (BCCCC), “Expanding the Boundaries of Corporate Volunteerism: Retirees as a Valuable Resource”, 2005
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Core Findings
• 47% of the 22 companies in the study include retirees in their volunteer efforts
• 44% of 17 companies with Dollars for Doers make it possible for retirees to participate (donations from $300 to $1,000 per retiree)
• Only a few strategically target retirees (half of managers reported low level interest in retiree volunteerism/few leaders view retirees as an untapped asset)
• Source: Boston College Center for Corporate Citizenship (BCCCC), “Expanding the Boundaries of Corporate Volunteerism: Retirees as a Valuable Resource”, 2005
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Core Findings (continued)
• Shorter-term projects • Integrate employees and retirees “intergenerational
exchange” • Need to publicize volunteer opportunities • Important to develop volunteer DNA before retirement • Business case for including retirees
• Source: Boston College Center for Corporate Citizenship (BCCCC), “Expanding the Boundaries of Corporate Volunteerism: Retirees as a Valuable Resource”, 2005
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Implications for Companies
• A multigenerational workforce can provide a competitive edge in the marketplace
• Companies that value older workers and offer them flexible arrangements will possess an advantage in recruiting and retaining older workers
• One way of showing that value is through corporate volunteer programs that support older workers and retirees’ desire to stay engaged as they age
• Source: Boston College Center for Corporate Citizenship (BCCCC), “Expanding the Boundaries of Corporate Volunteerism: Retirees as a Valuable Resource”, 2005
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Best Practices
Corporate Volunteer Programs That Engage Retirees
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Best Practices
State Street Corporation Cargill
Verizon
Xcel Energy
IBM
Johnson & Johnson
Source: Boston College Center for Corporate Citizenship (BCCCC), “Expanding the Boundaries of Corporate Volunteerism: Retirees as a Valuable Resource”, 2005
Cargill
Boeing
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Thank You!
Celina Pagani-Tousignant [email protected]