Aging

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Aging Work A Defining Issue of Our Time

• Marcie Pitt-Catsouphes, Ph.D. Michael A. Smyer,
  Ph.D. Co-Directors

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Discussion

• Aging of Society
• Aging of the Workforce
• Implications for Older Workers
• Implications for Business
• Implications for Boston College

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University Institute on Aging at Boston College

• Building upon Faculty Strengths
• Building upon Existing and Emerging Research
  Centers
• Adding New Initiatives for Boston College and the
  Outside World

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Research Centers at Boston College

• Center on Aging and Work/Workplace Flexibility
• Center for Retirement Research
• Center for the Study of Home and Community Life
• Center For Healthy Aging

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In 2000 States with 18 Percent of the Population
65 and Over
Source (Committee for Economic Development.
1999. New Opportunities for Older Workers. New
York Research and Policy Committee of the
Committee for Economic Development. Updated
with the 2000 Census. Available at
http//wwww.census.gov/population/cen2000/phc-t13/
tab03.pdf
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In 2025 States with 18 Percent of the
Population 65 and Over
Source (Committee for Economic Development.
1999. New Opportunities for Older Workers. New
York Research and Policy Committee of the
Committee for Economic Development. Updated
with the 2000 Census. Available at
http//wwww.census.gov/population/cen2000/phc-t13/
tab03.pdf
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Saturday, March 5, 2005
Is phased retirement the next phase?
Wednesday, December 8, 2004
Retirees Return to the Grind, but This Time its
on Their Own Terms
Share of older workers increases
By Sue Kirchhoff Mar 14 '05
the workforce -- of people 55 and older,
reflecting demographic and economic changes and
lifestyle choices. The recent figures compare
with no increase for this group in the same
period after the 1991 recession, says Marisa
DiNatale, economist at Economy.com. Dean Baker,
co-director of ...... (Continued)
WASHINGTON -- Even as the percentage of Americans
in the workforce holds near 16-year lows, despite
an improving economy, one group has posted steady
gains older workers. Since the March 2001
recession, there has been a 3.7 percentage-point
increase in the labor-force participation rate --
the proportion of the population in
QUEENSLAND NEWS
Wednesday, 16 February 2005
Older workers the key to success in next decade
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Older Workers In the Past
Average Retirement Age of Men
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What are the Concerns of Older Workers?

• Predictable Income
• Access to Health Care
• Having Meaningful Roles
• Being Treated with Dignity and Respect
• Opportunities for Growth and Development

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What are the Employment Expectations of Older
Workers?

• 79 of Baby Boomers Expect to be Working in their
  Later Years
• AARP
• 10 Plan to Pursue Traditional Retirement
• The Conference Board
• 52 Plan to Work Part-time
• The Conference Board

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Labor Force Trends for Men
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Labor Force Trends for Women
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Flexibility

• Control over Work Schedule
• Ability to Reduce Number of Hours Worked
• Optional/Flexible Work Locations
• Ability to Change Responsibilities
• Access to Training

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Access to Flexibility

Source Families Work Institute. (2005).
National Study of the Changing Workforce.
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Use of Flexibility

Source Families Work Institute. (2005).
National Study of the Changing Workforce.
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Implication

• flexibility will be an important recruitment
  and retention tool
• The Conference Board, 2002

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Labor Force Supply and Demand
Source Employment Policy Foundation analysis and
projections of Census BLS and BEA data. American
Workplace Report (2002).
210 200 190 180 170 160 150 140 130
Labor needed Labor available

Millions
A projected shortage of 10 millionworkers by the
end of the decade
2002 2006 2010 2014 2018 2022 2026 2030
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Projected Growth in the U.S. Workforce by Age
1998-2025

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Are U.S. Workplaces Ready?

• 80 of Businesses Have not Established Employment
  Options for Older Workers
• Society for Human Resources Management (SHRM)
• 60 of CEOs do not Consider the Aging Workforce
  in Strategic Planning
• (SHRM)
• Only 8 of Firms have Formal Policies for Phased
  Retirement
• Cornell Study

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Challenges for Employers Challenges for Older
Workers
Our company and others need to fully understand
the needs of mature workers and how they can
continue to productively work together with their
younger colleagues for the success of the
company. GlaxoSmithKline
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Compelling Questions

• Why are some employers more responsive to the
  opportunities and challenges of the changing
  workforce than others?
• What links do employers make between the aging of
  the workforce and business challenges, business
  strategies, and practices at the workplace?
• What are the outcomes of exemplary practices
  for employees and for business effectiveness?

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Center Goals

• Develop Research Agenda Focused on Aging and Work
  in the 21st Century
• Become the Premier Source of Quality Information
  about Flexible Work Options for Older Workers
• Engage the Broader Business Community in the
  Adoption, Implementation, and Utilization of
  Flexible Work Options for Older Workers
• Impact Public Discourse and Policy on Aging and
  Work a Defining Social Issue of our Time

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Key Investigators

• Kevin Cahill, Ph.D.
• Michael Giandrea, Ph.D.
• John Havens, Ph.D.
  
• Jacquelyn B. James, Ph.D.
• Joanne N. Lahey, Ph.D.
• Tay McNamara, Ph.D.
• Marcie Pitt-Catsouphes, Ph.D.
• Director

• Joseph F. Quinn, Ph.D.
• Natalia Sarkisian, Ph.D.
• Paul Schervish, Ph.D.
• Ce Shen, Ph.D.
• Michael A. Smyer, Ph.D.
• Jennifer Swanberg, Ph.D.
• John Williamson, Ph.D.

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Competitive Advantages

• SENIOR Advisors Sloan Employer Network for
  Informing Organizational Response
• Research Advisory Committee
• Connections to BCs Research Centers and
  Corporate Membership Groups

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Aging Work A Defining Issue of Our Time

• Marcie Pitt-Catsouphes, Ph.D. Michael A. Smyer,
  Ph.D. Co-Directors