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By Bill Leonard
A survey released Tuesday by The
New York Times Job Market, the printed job listing
and online recruitment service of The New York Times,
found that approximately 60 percent of workers 50 and
older plan to stay on the job beyond 65—the traditional
age for retirement. The survey also found that employers
hoping to retain more workers approaching retirement
age should consider offering a wider range of benefits
and work options, such as flexible work hours, job-sharing
and part-time employment.
Beta Research Corp. conducted the
survey on behalf of the New York Times Job Market
by interviewing 200 full-time workers 50 and older and
250 human resource professionals. The survey found that
approximately 45 percent of the HR professionals working
for companies with 100 or more employees believe employers
will be struggling with a severe labor shortage in the
next five to 10 years. Research conducted by groups
such as the Society for Human Resource Management (SHRM),
AARP and the Committee for Economic Development (CED)
also suggests that older workers could play a pivotal
role in helping employers cope with a shortage of qualified
workers.
“To ensure success over the
next 20 years, U.S. businesses will need significant
contributions from older workers,” said Charles
E.M. Kolb, president of the CED. The CED report New
Opportunities for Older Workers urges companies
to prepare for a looming labor shortage by removing
barriers for employees who wish to extend their careers.
When the new Job Market survey asked
employees what type of work options would encourage
them to delay their retirement, the top choice (42 percent
of the respondents) was flexible work hours. The other
options included the following:
• Part-time work (35 percent).
• Extended leave and sabbaticals (28 percent).
• Phased retirement plans (24 percent).
• Job sharing (16 percent).
While older workers clearly believe
they will continue working well after retirement age,
very few employers have implemented strategies to keep
them on the payroll. Only 7 percent of employers responding
to the Older Workers Survey conducted and released in
June by SHRM, CED and the National Older Worker Career
Center reported that they had defined a plan or proposed
specific changes to prepare for the large number of
workers who will reach retirement age over the next
10 years. According to the SHRM study, more than half
of organizations are only now becoming aware of the
issue or are beginning to examine their workplace policies,
and most respondents said they neither actively recruit
older workers nor do anything specific to retain them.
The AARP study Staying Ahead
of the Curve 2003: The AARP Working in Retirement Study
was released late September and shows that workers aged
50 to 70 could have a profound effect on any labor shortage.
In the study, older workers expressed a willingness
to work in service-related and retail positions, which
employers traditionally have a tough time filling during
labor shortages. AARP researchers interviewed more than
2,100 workers between 50 and 65 and found that they
were most willing to take the following jobs:
• Customer service representative.
• Teaching assistant.
• Teacher.
• Retail salesperson.
• Landscaper or groundskeeper.
• Cashier.
• Computer support specialist.
• Real estate agent.
• Secretary or receptionist.
• Truck driver or courier.
• Bookkeeper or accounting clerk.
• Child care worker.
“Our research tells us that
older workers will continue to have a prominent and
increasing role in the labor force in the coming decades,”
said John Rother, AARP’s director of policy and
strategy. “And they will step up and fill the
jobs that are most likely to need workers.”
The AARP survey results were similar
to The New York Times Job Market research by
revealing that nearly 60 percent of workers 50 and older
plan to find a new job after retiring from their present
position, with 45 percent saying they plan to work into
their 70s or even later.
Bill Leonard is senior writer for
HR News.
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