• Follow us

Economy

Where is workforce really booming? Among the oldest workers.

Older workers are the fastest growing part of the U.S. labor force. The number of workers age 65 to 74 will be 55% higher in 2024 than in 2014, the Labor Department projects. And the projected increase for workers 75 and older is 86%.

For some senior workers, it’s about earning needed income. For others, it’s about improving one’s lifestyle by giving of one’s talents. Among employers, the hiring boom is partly cyclical. In a tight job market, McDonald’s for example announced it was teaming up with AARP to recruit seniors to fill 250,000 openings this summer. But companies also see it as a long-term shift in their employment base. For many, age diversity in the workforce helps them cater to older customers as well as young ones.

A bias against maturity persists, as some prominent age-discrimination lawsuits attest. Still, opportunities are growing for people like Darneese Carnes, who hit a mental low point after losing her job in her mid-50s. Now, after help from a nonprofit called Operation Able, she’s happy in a job for Boston’s iconic duck-boat tours. “I love driving!” she says. “I love people.”

Newton, Mass.

Darneese Carnes was in a bad mental place three years ago. In October, she was fired from her job at a group home in suburban Boston, especially tough for a woman in her mid-50s with few job prospects. The next month, her sister died. Her brother-in-law, a trucker, was so worried about her he took her along for two months while he made his runs.

Back home, she ran across a flyer from Operation Able, a Boston nonprofit aimed at getting people, especially older people, back into the workforce through training and job placement. She did so well there, the nonprofit itself hired her. “Operation Able really did save my life,” she says.

Since then, Ms. Carnes has moved to Boston Duck Tours, which offers land-water tours of the city, and drives its iconic duck boats. “I love driving!” she says. “I love people.”

A funny thing is happening on the way to America’s aging crisis, which is expected to strain government resources and could well drag down economic growth. Increasingly, senior employees are staying in the workforce, either holding onto their jobs long beyond traditional retirement or returning to work after retirement. And companies, which once tried to push seniors out the door, are waking up to the potential value that they offer.

“There seems to be more understanding about the characteristics, the value that older people bring to workplaces,” says Paul Irving, chairman of the Milken Institute Center for the Future of Aging.

More than 800 employers have signed AARP’s pledge to promote equal opportunity for all workers, regardless of age. In 2018, the number of firms making the pledge grew 72%; this year, the Washington-based senior advocacy group expects another hefty increase.

“Age is now a new flavor of diversity,” says Tim Driver, CEO of Age Friendly Ventures, which operates RetirementJobs.com and other job websites for senior workers.

‘This is not temporary’

Companies are getting increasing recognition for their efforts to attract older workers. Last year, job website Glassdoor highlighted 12 employers hiring workers over 50, including KPMG, Bucknell University, and General Mills. Also in 2018, Columbia University’s aging center awarded 13 New York City area businesses for being “age smart,” including utility National Grid, high-end piano manufacturer Steinway, and the Bronx Zoo, whose 2,400-member workforce ranged in age from 16 to 91.   

Part of firms’ interest in older workers is cyclical. With the unemployment rate at a 50-year low, businesses are desperate for workers.

Just last month, McDonald’s announced it was teaming up with AARP to recruit seniors to fill 250,000 openings this summer.

But once the next downturn hits, the focus on older workers will continue, experts predict.

“I can assure you this is not temporary,” says Glassdoor’s chief economist, Andrew Chamberlain. “This is a long-term shift that has been going on for years.”

The reason is demographics. With longer and healthier life spans, seniors are staying in the workforce – sometimes because they’re worried about running out of money, sometimes because they’re worried about getting bored. Older workers are the fastest growing part of the labor force, according to the Bureau of Labor Statistics. It projects that between 2014 and 2024 the number of workers age 65 to 74 will rise 55% and those 75 and older will increase 86%. By 2024, a quarter of all workers will be 55 or older.

The shift isn’t enough to fully counteract the economic challenges that many expect from an aging society, says Mr. Chamberlain. But having more workers working longer will help. And all those workers are also consumers.

Take CVS Health, the nation’s largest retail pharmacy chain. Under its Talent is Ageless program, it has tried to attract older workers by making the workplace more friendly: increased lighting, carpeted floors, color-coded signage, and increased font sizes on its shelves. It has also come up with creative schedules to accommodate seniors, such as telecommuting, flextime, job sharing, and compressed workweeks so that someone can work four 10-hour days rather than a five-day schedule. In the early 1990s, 7% of its employees were 50 and over; today, it’s 24%.

“We’ve been focused on recruiting and working with mature workers for more than 20 years because we recognize that hiring mature workers makes good business sense for our company,” says David Casey, the chain’s vice president of workforce strategies and chief diversity officer, in a statement to the Monitor. “As we see the Baby Boomer generation age, having staff in our store that can personally relate to these customers – our fastest growing customer base – is a differentiator for us.”

That same dynamic is present in caregiving jobs for the elderly. Hospitals and senior care homes are a popular landing spot for older workers.

“We talk about recruiting every day,” says Tim Reilly, vice president of associate experience at Benchmark Senior Living in Waltham, Massachusetts. The company, which has some 60 facilities spread across the Northeast, started working with Age Friendly Ventures last year so that it could recruit more senior workers.

“I have never felt as content in my life as I have working here,” says Esta Avasalu, a septuagenarian and program assistant at Evans Park, one of Benchmark’s assisted living facilities in suburban Boston. “I can empathize with what people are going through. It takes me a month to clean my place instead of two days” like it used to.

Plenty of hiccups

Ms. Avasalu works full time because she has to. Her co-worker, Jeannette Offutt, works because she wants to. She retired for six years after her accounting firm laid her off after 30 years. “But I got bored.” She initially tried to get back into accounting. Eventually, she called on her experience in the Army as a medic, got certified as a nurse assistant at the YMCA, and landed a job as a med tech at Evans Park. “I love it! … I learn a lot from [the patients], and I admire them.”

Senior workers’ technical skills can be out of date and even their jobs can become obsolete. One man who came to Operation Able a couple of years ago had spent his career making sets and props for stage plays. He was suddenly unemployed because the theater was winding down. “What do you do with that?” says Chad Cotter, director of talent acquisition at Boston Medical Center and a volunteer at Operation Able.

But when he dug into the man’s background he found that he had to buy all his own materials (strong accounting skills), meet deadlines, and deal with any curveballs thrown his way. Mr. Cotter’s company (he worked for a different hospital then) hired the man as a project coordinator. “That was the absolute right fit,” Mr. Cotter says. The man went on to be promoted twice.

There are also plenty of hiccups. While a corporation’s leadership may be moving to embrace mature workers, the situation on the ground may be quite different.

“It all depends on the management of each store & those above the manager,” one CVS employee groused, anonymously, on retirementjobs.com. Younger managers “do not know how to treat an older worker & sometimes will try things to get rid of them or not promote them.”

And despite the move by a rising number of companies to embrace older workers, the bias against maturity persists. A global Deloitte survey last year of more than 11,000 human-relations and business leaders found that just under half the employers had done nothing to help older workers find new careers and another 15% viewed older workers as an obstacle to younger, more talented workers. (Research suggests that’s not true, Mr. Chamberlain says.)

Last month, a federal judge allowed a class-action suit against PricewaterhouseCoopers, which alleges that thousands of qualified job applicants 40 and older were discriminated against because the firm recruited new college graduates. A ProPublica investigation found that 20,000 U.S.-based IBM employees 40 and over were laid off in favor of younger workers – a charge the company denies.

Get the Monitor Stories you care about delivered to your inbox.

Changing mindsets about the value of these workers will take time – not only for employers but for the workers.

“Everything I do in my work is around improving the lives of older people, about changing the culture of aging,” says Mr. Irving, the aging expert at Milken. “And yet it’s the case when I look in the mirror that I know I have to get over my own biases about the implications of my own aging. ... The first thing we have to change is ourselves.”

Read More



Leave A Comment

More News

BBC News - Business

'Pilots were not to blame for 737 crash' 2019-06-16 19:25:00The boss of Ethiopian Airlines has rejected the idea his pilots were at fault in 737 Max crash.

Brexit uncertainty 'hitting UK business investment' 2019-06-16 19:16:38Companies should be investing in measures aimed at growth, says the British Chambers of Commerce.

CEO Secrets: My clubs aren't 'pale, stale and 2019-06-16 19:06:43Entrepreneur Ronald Ndoro talks about his vision for private members' clubs in the 21st century.

Carole Ghosn: 'I'm a housewife, not a conniving 2019-06-16 19:02:06The wife of former Nissan chief Carlos Ghosn speaks out about his detention and campaign to free him.

Carole Ghosn calls for President Trump to back 2019-06-16 19:00:19The wife of the former Nissan boss Carlos Ghosn wants pressure put on Japan over his legal battle.

Argentina and Uruguay scramble to restore power after 2019-06-16 15:40:42Argentina's president promises a full investigation after a blackout left millions without electricity.

Tory leadership race: EU will renegotiate Brexit package, 2019-06-16 09:26:49Mr Hunt said if there is no prospect of a deal by 31 October he would accept a no-deal Brexit.

Babe Ruth jersey fetches record-breaking $5.64m at auction 2019-06-15 20:56:37The baseball legend's jersey becomes the most expensive piece of sports memorabilia ever sold.

Tattoos at work: Are they still an issue? 2019-06-15 19:58:56Employers have become more relaxed about visible tattoos at work, but some firms still don't allow them.

Illegal eel exporters exposed by Countryfile 2019-06-15 19:23:26International buyers offered high prices for eels caught on the River Severn in Gloucestershire.

'My parents wanted me to marry. I became 2019-06-15 19:10:43Photographer Sayan Hazra captures a day in the life of one of India's few female DJs.

India announces retaliatory trade tariffs against the US 2019-06-15 17:13:07The new duties come days before countries' leaders are expected to meet at a G20 summit in Japan.

Reuters: Business News

Trade, earnings caution weigh on stocks; oil drops New! 2019-07-18 13:55:31A gauge of global stocks lost ground for a third straight session on Thursday on worries over how the trade war between the United States and China co

Trump to meet with airline CEOs on Qatar New! 2019-07-18 13:54:08U.S. President Donald Trump planned to meet on Thursday with the chief executives of major American airlines and Qatar Airways to discuss their accusa

Trump to meet airline executives to discuss 'competition New! 2019-07-18 13:47:14U.S. President Donald Trump will meet with top executives from a handful of airlines on Thursday to discuss "competition and transparency," a White

Transport app FlixMobility gets Germany's biggest tech funding New! 2019-07-18 13:06:57Transport app FlixMobility has raised around 500 million euros ($561 million) in Germany's biggest tech funding round to date to back investments in

Netflix sinks on subscriber losses, analysts still see New! 2019-07-18 12:47:16Wall Street brokerages stuck to a positive outlook on Netflix Inc on Thursday, betting that a strong content slate for the rest of 2019 would reverse

Wall Street falls as Netflix adds to earnings New! 2019-07-18 12:43:48Wall Street's main indexes were set for their third day of losses on Thursday, as Netflix reported a surprise fall in U.S. subscribers in a downbeat

Oil falls nearly 3% as U.S. Gulf production New! 2019-07-18 12:37:57Oil fell nearly 3% a barrel on Thursday, weighed down by weakness in U.S. equities markets and an expectation that crude output would rise in the Gulf

Blackstone reports better-than-expected Q2 distributable earnings New! 2019-07-18 12:10:10Blackstone Group Inc , the world's largest manager of alternative assets such as private equity and real estate, said on Thursday its distributable e

Southwest schedules without Boeing 737 MAX until Nov. 2019-07-18 11:46:37Southwest Airlines Co joined U.S. rivals on Thursday in cancelling more flights until early November due to the continued grounding of Boeing Co's

Evercore set to lose out as Aramco reshuffles 2019-07-18 11:46:06Boutique investment bank Evercore Partners has lost the chance to retain a prime position as an independent advisor for Saudi Aramco's potential $100

Morgan Stanley reports drop in profit, but wealth 2019-07-18 11:45:16Morgan Stanley reported a drop in quarterly profit Thursday, hit by lower market activity amid global trade tensions and expectations for U.S. inter

Justice Department may sue to block Sprint, T-Mobile 2019-07-18 11:33:51The U.S. Justice Department would sue to block the merger of T-Mobile US Inc and Sprint Corp if the parties do not settle next week, CNBC reported on

Business News - UPI.com

Pentagon: 2,100 more troops headed to U.S.-Mexico border New! 2019-07-18 12:07:42 An additional 2,100 troops, including 1,100 active-duty service members and 1,000 Texas National Guard soldiers, will be deployed to the U.S.-Mexico

Air Force pilot tests modified Black Hawk helicopter 2019-07-18 09:58:06 For the first time, an Air Force pilot tested an HH-60W combat rescue helicopter, which is a modified version of the Army's UH-60M Black Hawk.

Six companies to compete for $2.5B in funds 2019-07-18 09:10:08 The Navy awarded six companies task orders for a potential 10-year, $2.5 billion contract to install and support command, control, communications, co

Navy seeks proposals for unmanned surface vessel 2019-07-17 15:17:31 A U.S. Navy request for proposals calls for a new class of unmanned surface vessels.

Hospital ship USNS Comfort leaves Peru after treating 2019-07-17 15:07:43 The Navy hospital ship USNS Comfort left Peru on Wednesday, its second stop in Central America serving refugees from Venezuela.

Raytheon nets $40.2M for variants of Navy's AN/SPY-6 2019-07-17 13:41:15 Raytheon Co. was awarded a $40.2 million contract for long lead material for production on two variants of the U.S. Navy's AN/SPY-6 radar system, on

U.S. Air Force calls for proposals to replace 2019-07-17 13:21:35 The U.S. Air Force announced an RFP aimed at Boeing and Northrop Grumman for the Ground Based Strategic Deterrent, a new intercontinental ballistic m

U.S. Marines' new Mk13 Mod 7 rifle is 2019-07-17 12:11:44 An improved U.S. Marine Corps precision-firing rifle is now fully operational, the Marine Corps Systems Command announced.

Lockheed awarded $492.1M for HIMARS systems for U.S., 2019-07-16 11:36:52 Lockheed Martin was awarded a $492.1 million contract for High Mobility Artillery Rocket Systems M142 launchers and associated hardware for the U.S.

Britain's first P-8A Poseidon takes flight near Boeing 2019-07-16 09:43:14 The first of Britain's nine P-8A Poseidon patrol aircraft took off in an inaugural flight by Boeing test pilots from Renton, Wash.

BAE Systems wins $45M contract for howitzer modifications 2019-07-15 15:25:05 BAE Systems received a $45 million contract to improve the firing capabilities of the howitzers of the U.S. Army, the company announced Monday.

Raytheon nabs $110M contract for cybersecurity for Middle 2019-07-15 14:39:35 Raytheon Co. announced a $110 million contract on Monday to develop and deploy cybersecurity equipment for an unnamed country in the Middle East Nort

Christian Science Monitor |

Stock markets fall after US-China trade talk stalemate 2019-06-10 09:31:25Economists warn that U.S. and China’s escalating dispute over trade and technology will likely hurt economic growth. 

This Nebraska Republican says it’s time to think 2019-06-10 09:31:25President Trump is meeting with Democrats on infrastructure. Rural America says that, from roads to internet access, it needs to be part of any plan.

A doubly green deal? Clean energy jobs also 2019-06-10 09:31:25New analysis from the Brookings Institution suggests that transitioning to clean energy sources could open up a range of high-paying career paths.

One group not happy about older workers: young 2019-06-10 09:31:24Americans under 50 believe the rising number of older workers hurts the economy, a recent poll shows. Longer and healthier life spans have allowed mor

Robot baristas in South Korea push automation forward 2019-06-10 09:31:24South Korea's coffee scene has a new face: robotic baristas. While automation raises concerns that finding entry-level jobs will become har

SEC moves to require brokers to reveal conflicts 2019-06-10 09:31:24In the past, not all financial advisers were legally required to put clients' interest first. But some say the new measure by federal regulators does

Medicare for all – why supporters can’t agree 2019-06-10 09:31:24Support for single-payer health care seems to have risen over the past year or so, but such a plan presents complex, and controversial, choices.

Where is workforce really booming? Among the oldest 2019-06-10 09:31:24McDonald’s wants to hire 250,000 senior workers. A CVS program avows that ‘Talent is Ageless.’ And nationwide the ranks of older wor

Car trouble: How symbol of freedom became a 2019-06-10 09:31:24A record 7 million Americans are 90 days or more delinquent on car loans, a new report finds. U.S. auto debt is also at a record: $1.28 tril

Uber’s founders have cashed in. How about the 2019-06-10 09:31:24Uber relies on an army of drivers whom it refuses to call employees. But some see its “Partner Protection” plan as a model for the gig eco

As US-China trade war ramps up, how will 2019-06-10 09:31:24China-made goods will cost Americans more, as President Trump presses Beijing for trade-talk concessions. By July tariffs may hit cellphones, shoes.

Walmart follows Target to enter retail shipping wars 2019-06-10 09:31:24The nation's largest retailer joins the next-day shipping competition. Walmart has one big advantage over Amazon – its more than 4,700 sto

Home Page

Govt floats idea for Aadhaar-like database for mapping 2019-07-17 12:31:28The NDHM has proposed to provide the technology platform for collection of core health data from the providers and patients

USA's Ebix to buy travel services firm Yatra 2019-07-17 12:25:26Once the transaction is completed, Yatra will be a part of Ebix's travel portfolio, EbixCash

SC to hear Ram Janmabhoomi-Babri Masjid land dispute 2019-07-17 12:13:12A five-judge Constitution bench, headed by Chief Justice Ranjan Gogoi, had on July 11 sought a report on the issue and said that a day-to-day hearing

Best of BS Opinion: India's moon mission, social 2019-07-17 11:57:22From DHFL crisis to gender bias in India, Business Standard brings to you opinions and views of experts across the globe

Pakistan must review Kulbhushan Jadhav's death sentence, rules 2019-07-17 10:43:28The bench also ruled by 15 votes to 1 that Pakistan had violated India's rights to consular visits after Jadhav's arrest

Coal blocks contracts should be made public under 2019-07-17 10:21:27State information commission rejects state-owned power company's contention that the information won't serve public purpose.

After PNB, Punjab & Sind Bank detects Rs-238 2019-07-17 10:20:39Earlier this month, Punjab National Bank (PNB) said it had reported a borrowing fraud of Rs 3805 crore in Bhushan Power's account to the Reserve Bank

NCLAT suggests terms for fresh bidding in Jaypee 2019-07-17 09:22:51Builder-buyer agreements not to suffer any changes; tribunal says will hear banks on July 22 on exclusion of 250 days from CIRP process

Mindtree Q1 net up 41.4% to Rs 92.7 2019-07-17 08:06:55Mindtree's revenues rose 11.9 per cent to Rs 1,834.2 crore in the quarter as compared with Rs 1,639.5 crore in the year-ago period

Govt clears 7 amendments to IBC, extends Finance 2019-07-17 07:56:59The Cabinet has approved the changes to the Insolvency and Bankruptcy Code (IBC).

Yes Bank Q1 consolidated net profit slumps over 2019-07-17 07:47:06The bank had reported a net profit of Rs 1,265.67 crore in the April-June quarter of the previous fiscal ended March 2018

Wipro Q1 net up 12.5% at Rs 2,388 2019-07-17 07:32:08Revenue for the period came in at Rs 14,716.1 crore, up 5.28 per cent YoY.


Disclaimer and Notice:WorldProNews.com is not responsible of these news or any information published on this website.