GRAND Magazine - Spring 2024 - 33

retirement
AN AGING WORKFORCE:
" An older workforce is already here. Altogether, more
than 10 million Americans who are 65 or older are currently
employed, and that number is projected to rise to nearly
15 million by 2032. Today 27% of Americans ages 65 to 74
work or are actively looking for jobs. And people who are
65 or older now represent the fastest-growing segment of
the labor force-by far. "
ACTIONS TO TAKE:
" We need to overcome lingering ageist stereotypes
RETIREMENT AND UNRETIREMENT WAVES:
" If it's unsettling news that so many Boomers are reaching
the traditional retirement age, the corresponding good news
is that many of them are looking for ways to spend their
time meaningfully and productively, including by continuing
to work after 'retiring' from their regular jobs. "
OLDER WORKERS' VALUE:
" What older workers bring to the table is well documented
and yet highly underappreciated. They have knowledge
and skills, both functional and organizational. They
offer commitment, loyalty, and engagement-valuable traits
often in decline these days. They can serve as mentors and
role models of resilience and emotional maturity to younger
colleagues struggling with the increasing demands of their
jobs and lives. They also possess the emotional intelligence
that's key to relating to customers, especially if the customer
base itself is aging. "
33 GRAND SPRING 2024
and start thinking of older and retired workers as a
large, versatile, and valuable labor pool-one that's
significantly underutilized. If you are experiencing labor and
talent shortfalls and have found that many of your valuable
employees are exiting into retirement, it's time to act. We
recommend that you take five steps: Preserve experience,
replenish experience, share experience, offer flexibility, and
leverage age diversity. "
AGEISM-FREE HIRING:
" As you search for experienced employees, root out any
assumptions and language in job descriptions and recruiting
methods that may discourage older candidates. Don't
put a cap on the years of experience required or use subtly
ageist phrases like 'energetic' or 'digitally savvy' that may
signal a bias against older workers. Field-test your organization's
career site with a small panel of older employees and
retirees. "
LEVERAGING AGE DIVERSITY:
" Perhaps the most beneficial way an organization can
make its commitment to age diversity tangible is to purposefully
create multigenerational work teams so that
people of various ages and life stages work together regularly,
learning from and about one another. If your organization
has intergenerational issues, it probably needs more
intergenerational teams. "
THE NEW AGE OF AGING:
" These workforce changes are part of a broader and
deeply significant transformation in the shape of people's
lives-and in what it means to 'age' and 'retire.' Seventyone
percent of Americans who are 65 or older say that the
best time of their lives is not in the past but right now or still
in front of them. And 83% say that feeling 'useful' is more
important to them than feeling 'youthful.' Working longer
can make them feel both. "
Excerpt reprinted with permission
by Harvard Business Review. Find original here. Link here
Over the past 45+ years, Dr. Ken Dychtwald has
emerged as North America's foremost visionary and
original thinker regarding the lifestyle, marketing,
health care, economic and workforce implications of
the age wave. Since 1986, Ken has been the Founder
and CEO of Age Wave, an acclaimed think tank
and consultancy focused on the social and business
implications and opportunities of global aging and
rising longevity.
Robert Morison, Senior Advisor at Age Wave, is a
researcher, writer, speaker, and consultant, and an
authority on what happens at the intersections of
business, technology, and people management.
Katy is the Senior Vice President of Research at Age
Wave where she leads the design and Katy is the
Senior Vice President of Research at Age Wave
where she leads the design and development of
thought-leadership studies and oversees research
that illuminate how aging, longevity, and retirement
shape the marketplace, the workplace, and our lives.
https://www.facebook.com/GRANDmagazine https://hbr.org/2024/03/redesigning-retirement https://hbr.org/2024/03/redesigning-retirement https://agewave.com/ https://agewave.com/ https://agewave.com/
GRAND Magazine - Spring 2024

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