Aging Workforce
Aging Workforce
Richard Barger
Southern New Hampshire University
“ People will be working beyond traditional retirement ages,” said Peter Woolford, Executive Director of the Canadian Employers Council and the employers’ spokesperson at the ILO meeting in September. According to The U.S Population is Becoming Larger and More Diverse; The baby-boom generation-which has been a major force in the labor market for the past 20 years- has now reached its prime working years and makes up about 47 percent of the workforce. The youngest baby boomers, just reaching 35 years of age, will continue to participate in the workforce for many years. As this population ages, the median age of the workforce will rise. (U.S. Department of Labor, Bureau of Labor Statistics) It has been estimated that 25 percent of the workforce will be over 55 in 2020; this poses major changes in many of the organization we work in today. Our workforce is changing, and companies must adjust in order to be compliant with other companies. In the case incident; The Treasure Trove of the Aging Workforce explains, that our older workers (mostly baby boomers) face a variety of discriminatory attitudes in the workplace, and are more subjected to by stereotypes due to their age. Much of our work places are made up in diversity, whether its age, gender or race diversity. Robbins and Judge have compared generational differences in values, according to exhibit 5-4, even with age discrimination in organizations, it is the responsibility of the companies to ensure the employees are treated fairly regardless of age.
Exhibit 5-4 Dominant Work Values in Today’s Workforce
Cohort
Entered the Workforce
Current Age
Dominant work Values
Boomers
1965- 1985
Mid-40s to mid 60s
Success, achievement, ambition, dislike of authority; loyalty to career
Xers
1985 – 2000
Late 20s to early 40s
Work/life balance, team-oriented, dislike of rules; loyalty to relationships
Millennial
2000 to present
Under 30
Confident,
Richard Barger
Southern New Hampshire University
“ People will be working beyond traditional retirement ages,” said Peter Woolford, Executive Director of the Canadian Employers Council and the employers’ spokesperson at the ILO meeting in September. According to The U.S Population is Becoming Larger and More Diverse; The baby-boom generation-which has been a major force in the labor market for the past 20 years- has now reached its prime working years and makes up about 47 percent of the workforce. The youngest baby boomers, just reaching 35 years of age, will continue to participate in the workforce for many years. As this population ages, the median age of the workforce will rise. (U.S. Department of Labor, Bureau of Labor Statistics) It has been estimated that 25 percent of the workforce will be over 55 in 2020; this poses major changes in many of the organization we work in today. Our workforce is changing, and companies must adjust in order to be compliant with other companies. In the case incident; The Treasure Trove of the Aging Workforce explains, that our older workers (mostly baby boomers) face a variety of discriminatory attitudes in the workplace, and are more subjected to by stereotypes due to their age. Much of our work places are made up in diversity, whether its age, gender or race diversity. Robbins and Judge have compared generational differences in values, according to exhibit 5-4, even with age discrimination in organizations, it is the responsibility of the companies to ensure the employees are treated fairly regardless of age.
Exhibit 5-4 Dominant Work Values in Today’s Workforce
Cohort
Entered the Workforce
Current Age
Dominant work Values
Boomers
1965- 1985
Mid-40s to mid 60s
Success, achievement, ambition, dislike of authority; loyalty to career
Xers
1985 – 2000
Late 20s to early 40s
Work/life balance, team-oriented, dislike of rules; loyalty to relationships
Millennial
2000 to present
Under 30
Confident,
References: 6 advantages of Workplace Diversity. (n.d.). Retrieved November 30, 2014, from http://saharconsulting.wordpress.com/2010/03/26/6-advantages-of-workplace-diversity Avoid Age Discrimination in the Workplace. (n.d.). Retrieved November 30, 2014, from http://www.allbusiness.com/human-resources/workplace-health-safety-employment/11441-1.html A changing world: Adapting to an ageing population in the workplace. (n.d.). Retrieved November 30, 2014, from http://ilo.org/global/publications/magazines-and-journals/world-of-work-magazine/articles/WCMS_170533/lang--en/index.htm NIOSH Science Blog. (n.d.). Retrieved November 30, 2014, from http://blogs.cdc.gov/niosh-science-blog/2012/07/19/agingworkforce/ Futurework - Trends and Challenges for Work in the 21st Century - U.S. DOL. (n.d.). Retrieved November 30, 2014, from http://www.dol.gov/oasam/programs/history/herman/reports/futurework/report/chapter1/main.htm Robbins, S., & Judge, T. (2015).Organizational behavior (16th ed.). Boston: Pearson.