Boomers Mean Business

By Marcia Akers

Baby Boomers are now entering their retirement years while some members of “The Greatest Generation” remain in the workforce. Gen Xers and Yers are looking for advancement and rewarding entry-level positions. This first-ever phenomenon of having four generations in the workplace at the same time is creating challenges for employers, including how to create a safe and pleasant environment while capitalizing on the unique resources, experiences, and talents that each group has to offer.

These intergenerational workplace issues have been studied by Chris Weiser, who leads an employee group at Sodexo. “It’s not like Gen-Xers and Gen-Yers need to be like their Baby Boomer boss . . . or Baby Boomers have to learn to text 140 words a minute,” Weiser says. “It’s about understanding that everyone has some style differences.” A high-functioning, age-diverse workforce can be a primary contributor to a company’s current stability and future growth.

A report prepared by The Sloan Center on Aging and Work states that, “Organizations are beginning to recognize that an integrated age management approach with a life course perspective can have the greatest positive impact on business. Age is more than just a number based on date of birth — age is where people are in life, how they perceive themselves, what each person has experienced.”

How Old Are You Really?

Sloan Center researchers further propose, “Age is related to many aspects of our lives. There is often a correlation between age, career-stage and life-stage.” They advise that when employers are calculating the real age of its workforce to keep in mind

• chronological age — a measure for individual human development;
• occupational age — an accumulation of knowledge, competencies, skills, and social capital related to a particular type of career or line of work;
• life events age — an individual’s development as he moves through life-course experiences such as marriage, child birth, and empty nest;
• generational age — societal influences that affect the way a large group of people see the world; and
  organizational age — the number of years an employee has been with a particular employer.

“Today’s linear life plan of distinct years for education, work and leisure is becoming obsolete,” reports Scott Reeves of Forbes. “In its place is emerging a cyclical and phased life plan in which education, work and leisure exist in different proportions throughout life.” This cyclical life plan is played out by members of all four generations, but is presently drawn into focus on Boomers who want to “continue employment on their own terms, doing work customized to their needs.”

Boomers keep going and going. AARP finds that 79 percent of Baby Boomers plan to keep working past age 65, creating a “working retirement.” People are staying active and working longer because:

• They are better educated and want to remain engaged in their areas of expertise.
• They are healthier and living longer.
• They need the additional income.

According to the Bureau of Labor Statistics, members of the workforce between ages 55 and 64 will increase 36.4 percent between 2006 and 2016. Workers between ages 65 and 74 will increase by 80 percent during the same time period. To accommodate this trend, many employers are making it possible for their current older employees to keep working in their present jobs. Some companies are actively recruiting older workers to fill new positions because customers and clients more readily identify with a person who is mature and settled. Others are developing flexible work schedules and even allowing their older workers to change job locations depending on the season of the year.

The Pros and Cons

There are myriad advantages to employing older workers, as well as some risks. In his article “Designing the Workplace for the Aging Workforce,” Lance Perry identifies the following as perceived positive characteristics of senior employees:

• expertise;
• reliability;
• maturity;
• strong work ethic;
• adaptability;
• stability;
• honesty;
• loyalty; and
• compassion.

On the downside, older workers are at greater risk for a fatal accident on the job. When a work injury does occur, they require more time to heal and return to work. Workers who are aged 50 to 70 are more likely than younger people to experience the following
injuries:

• wound of the finger or hand;
• sprain of the back, knee, or shoulder;
• bruising of the knee or face; and
• carpal tunnel syndrome.

Change Happens

According to Perry, an older person’s vulnerability to workplace injury stems from changes in the physical, physiological, and psychosocial capacities. He identifies the following as being the most important capacities for employers to be aware of.

Physical:

• strength — 25 to 30 percent decrease at age 65
• flexibility — 18 to 20 percent decrease age 65 years
• balance — one-third of those 65 or older fall each year
• sight — all aspects deteriorate
• reaction time and speed — decreases
• hearing — one-third of 65- to 74-year-olds have problems
• manual dexterity and tactile feedback — motor skills deteriorate
• body fat — increases

Physiological:

• oxygen exchange — 40 percent decrease at age 65
• respiratory system — 25 percent less at age 65, 50 percent less at age 70
• cardiovascular system — 15 to 20 percent less at age 65
• systemic blood pressure — increases
• fatigue — occurs more rapidly
• extreme temperatures — more challenging

Psychosocial:

• shift preferences — mornings, less shift work
• training and learning — structured training and education
• disenfranchisement and disengagement — more likely

A Good Plan Will Help

Employers who want to help keep their experienced and loyal older workers happy and functioning at top efficiency should:

• augment safety programs to include prevention of slips and falls;
• make ergonomics a priority to lessen the risk of injuries caused by strain and over-exertion;
• assign tasks that require heavy activity such as lifting, pulling, twisting, stooping, and kneeling to workers who are physically stronger, or reduce the expectations for older workers;
• provide training and education;
• schedule rotations and breaks;
• offer health and fitness opportunities; and
• develop reasonable return-to-work programs.

An age-diverse workforce is an economic plus for business. Focusing adequate time and resources on the older generation strengthens their physical and emotional well being. It also builds a stable and loyal workforce for the company and mentoring opportunities for younger employees.

Marcia Akers is editorial assistant for the Tennessee Workers’ Comp Reporter and Tennessee Attorneys Memo. She has written and edited publications produced by Blue Cross and Blue Shield of Alabama, The University of Alabama, and Vanderbilt University. She recently moved to Nashville from Charlottesville, VA, where she worked at the CFA Institute, an international association of financial analysts.