San Antonio, Texas
June 10, 2012
June 10, 2012
June 13, 2012
Continuing Professional Development
25.48.1 - 25.48.14
A Force Multiplier for Professional Program Growth – Synergistic Effects of Hiring Senior Retired WorkersThis paper focuses on the success and sustainability of growing professional programs derivedfrom the synergy of hiring senior retired workers. It is based on real-life actual accounts anddiscusses the many hidden values stemming from the significant breadth and depth ofknowledge, both theoretical and experiential. The hiring of retired individuals provides not onlya wealth of knowledge, but different expectations for compensation and reward, this given theemployment expectations for retired workers are different from chronologically youngeremployees.In short, retired workers want to remain actively involved in, and remain a part of the greatersocial construct. They want to continue to contribute in a meaningful way; their motivation isslanted towards self actualization in the sense they wish to contribute all that they know and allthat they are. Senior workers are not necessarily motivated by traditional rewards. By this, theyare not typically looking to become the next business president, nor are they concerned aboutachieving the highest pay achievable. They want to be productive members of society and ifproperly folded into the vision of the organization, bring an unprecedented wealth of knowledgeand focus to meeting the challenges.This paper will focus on defining the older worker demographic, looking at the aging of theworld’s population, examining the proposed shortfall of skilled workers in the United States,examining the science and engineering supply and demand continuum, the international impact,examining the mindset of retired workers and the attendant cost implications.Defining senior retired workers begins with reconciling the many current age demographiccohorts in the workforce today. Although we have documented as many as eight individualcohort groups, in a nutshell, we have four primary demographic groups in our workforce today;Veterans (1922-1946; 52 million population), Boomers (1946-1964; 76 million population), GenX (1964-1980; 44 million population) and Gen Y (1980-2000; 69.7 million population).Retirement ages, coupled with the gains in life expectancy, mean adults are spending more oftheir life in retirement. In 1960, men on average could expect to spend 46 years in the laborforce and a little more than 1 year in retirement. By 1995, the number of years in the labor forcehad decreased to 37, while the number of years in retirement had jumped to 12. Some authorshave predicted an 18 million worker shortfall by 2014. Ironically, however, in looking at thesame data forecast for 2014, there will be 14 million people available to work between the agesof 65 and 74.Based on cohort characteristics there are four primary areas where senior retired workers bringadvantages to a work environment: work ethic, financial awareness, experience and emotionalintelligence.
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