Presentation on theme: "Boomers on the Doorstep: The New Face of Work and Service Judy Goggin Civic Ventures May 3, 2007 Connecticut Commission on Aging."— Presentation transcript:
Boomers on the Doorstep: The New Face of Work and Service Judy Goggin Civic Ventures May 3, 2007 Connecticut Commission on Aging
2 A Demographic Revolution Is Underway The “Floridization” Of America
3 A RETIREMENT STORY How others see us Still Dr. Bill Schwartz
4 January 2006 & Counting…. 8,000 Baby Boomers turn 60 every day
Is this the work of America’s future?
6 Our Answer: “ We have the chance to create a society that refuses to squander the most experienced quarter of the population” Marc Freedman Civic Ventures
7 We’ve created a new life stage once every century
8 A new life stage is emerging
9 What Boomers Tell Us They Want Catch my breath Tackle new challenges Pursue deferred dreams Work on my own terms Find meaningful roles
10 Baby Boomer Volunteer Plans 71% plan to volunteer Why? Desire to help people 67% Feeling connected with community 56% Have more time 48% However 7 out of 10 report dissatisfaction with volunteer experience
11 Baby Boomer Work Plans 70% plan to work Why? Connection with people 59% Sense of purpose 57% Additional income 52%
12 Baby Boomer Work Plans Want work that improves quality of life in community 48% However 48% feel it will be very difficult to find “good work”
Traditional systems of pensions, Social Security and health coverage are collapsing Leading-edge boomers want to work and need to work Shortages of skills and talents are driving demand for experienced workers ‘Giving back’ is a major motivator as people seek meaning, purpose, connection and change Fundamental Trends
Finding Work that Matters in the Second Half of Life Introducing: The Encore Career June 11
…focus on work with a social purpose …follow after one’s earlier work life (including work in the home) …are compensated in traditional or non-traditional forms …last long enough to produce a significant body of work Encore Careers….
…build on experience and warrant investment in education and training …have flexible work arrangements …are purposefully chosen after a period of reflection and exploration. Encore Careers…
…a coherent set of work experiences …social impact …Individual fulfillment and renewal …new approaches to social challenges. Encore Career produce….
18 What does all this mean? Nothing less than……… Create pathways to encore careers Restructure the workforce system Design new recruitment and retention strategies
19 Confronting Ageism
20 Start Here: Reframe the Picture Are these people paid or volunteer? Does it matter?
21 Restructure Workforce System Create a workforce of highly skilled workers for the future best able to fulfill your mission
22 Redesign: Recruitment, Retention & Roles A range of options Tapping experience New roles Alternative compensation
23 What It Will Take Flexibility Opportunities to learn Opportunities to lead Experience used well New roles, new forms of compensation
24 Studies & Reports about Boomers AARP Boston College Center on Work and Aging Bureau of Labor Statistics Civic Ventures Harvard School of Public Health Conference Board National Council on Aging Financial Services: DeLoitte, Merrill Lynch, MetLife, Prudential, Putnam Society of Human Resources Management
25 a think tank and incubator generating ideas and inventing programs to help society achieve the greatest return on experience www.civicventures.org
26 Projects Experience Corps The Purpose Prize The BreakThrough Awards Community College Encore Career Grants www.civicventures.org
27 Resources The New Face of Work – CV/MetLife Study Boomers’ Guide to Good Work Encore Prime Time www.civicventures.org