Presentation on theme: "Hiring Experience American Association of Community Colleges Funded with a grant from The Atlantic Philanthropies Place College Logo Here."— Presentation transcript:
Hiring Experience American Association of Community Colleges Funded with a grant from The Atlantic Philanthropies Place College Logo Here
Take the Quiz: True or False By 2009, the median age of the U.S. worker will be 40. People 55 and older take fewer sick days than their younger counterparts. The fastest growing users of the Internet are people over 50. Research has found no significant relationship between age and job performance.
I.Baby Boomers: Redefining Life (and the Workplace) After 50 II.The Pending Crisis: A Workforce Short on Experience III.What Our Community College is Doing IV.Opportunities to Partner Presentation Overview
I. Baby Boomers: Redefining Life (and the Workplace) After 50
The Demographic Revolution: It’s Here Our nation faces a demographic revolution as 78 million baby boomers enter their retirement years.
A baby boomer turns 50 every 7.5 seconds. Each day in 2008 – 10,000 baby boomers turned age 62. Boomers Go Plus 50
Experience Loyalty Attention to task Perseverance Emotional maturity Complex decision-making Plus 50 Workers: A Bonus for Employers
Retirement accounts have plummeted. Many have no choice – they must work to support themselves and their families. Economic Crisis = Baby Boomers Must Stay on the Job
For Many: Not Working Is Not an Option Many people will stay in the workforce well into retirement age so they can maximize their Social Security benefits.
II. The Pending Crisis: A Workforce Short on Experience “In all probability, the single dominant factor in all developed and emerging countries will be population changes.” -Peter Drucker
A Workforce Short on Experience Just as in the general population, the workforce is aging. But it’s also shrinking in size – with fewer younger workers available to take the place of older ones who are leaving.
The Loss of Experienced Workers: The Impact Losing experienced workers over the age of 50 results in: Shortages in skilled worker and managerial positions. A loss of institutional knowledge to the business or company. The loss of expertise and experience. A leadership void in the workplace.
Business Has Not Sounded the Alarm Studies by AARP in 2001, 2005, and 2006 found a majority of American businesses are not yet preparing for an older workforce.
The Impending Cataclysm Number of younger workers is declining. Businesses don’t realize they need to adapt to the needs of older workers. Baby boomers are entering retirement years in greater numbers.
35% will work mainly for interest and enjoyment. 23% will work mainly for income. 17% want to start their own business. Plus 50 Adults: Staying on the Job
Most people ages 55 to 70 continue to work, either full or part time, for money or for personal fulfillment. Plus 50 Adults: They Want to Work