the multi-generational workforce: lessons learned from sloan center research jacquelyn james, ph.d....
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The Multi-Generational Workforce:Lessons Learned from Sloan Center
Research
Jacquelyn James, Ph.D.
Boston College Center on Aging & Work
September 20, 2013
With Marcie Pitt-Catsouphes and Christina Matz-Costa
Lesson 1: Projected Changes in the U.S. Labor Force
2010-2020 by Age Groups
Toossi, M. (2012, January). Labor force projections to 2020: a more slowly growing workforce. Monthly Labor Review, 135 (1), 43-64.
Implications…
Living longer
Working longer, differently
Re-conceptualizing age/career
Evolving notions of “retirement”
Struggling to keep up (employers)
Chronological
Life stage
Career stage
Generational
Organizational
Relative
Social
Physical
Lesson 2: Age is Multifaceted
Exercise: Mapping Your Age
Mapping Your Age: Your Perception
Age, Flexibility Fit, and Employee Engagement
Workers at all ages, stages, and career stages may have different work styles, but they share a desire for better work-life fit. This is most important to older or late-career workers.
Lesson # 3
Lesson 4: Flexibility is not Enough
Just over three in five (62%) of workers aged 50+ described the availability of flex time as "very important" or "somewhat important.”
The most important aspect of job satisfaction for Baby Boomers is the opportunity to use skills and abilities, with 63% ranking this as very important.
Job Security (61%), Compensation/pay (60%), Communication between employees and senior management (59%) Organizational financial stability (56%).
Lesson # 5: Job Quality is Multi-faceted
Lesson 6: Business Drivers for Innovative Practices
Health concerns
Recruitment, retention, job satisfaction, engagement
Changes in workforce demographics
Changes in consumer demographics
Lesson 7: Organizations Respond in Different Ways
Interviews
Case studies: Cornell, Dell, GlaxoSmithKline, Marriott, MITRE, and Wells Fargo
Age: A 21st Century Imperative
Innovative Practice Families
Benefits
Dependent care
Diversity initiatives
Health and wellness
Leadership development
Recruitment
Retiring and retirement
Training
Workplace flexibility
Innovative Practices Central Baptist Hospital
Career Coaching
Career flexibility addressed by a leadership succession and competency program to identify and retain organizational talent
Marriott Hourly Flexibility
Innovative options for scheduling, career and work design flexibility
MITRE Phased Retirement
Part-Time On-Call
Flexible options to transition into retirement
CVS Caremark Snowbird Program
Program that enables older workers to transfer to different CVS/pharmacy store regions on a seasonal basis
Cornell University Encore Cornell
Program for retirees enabling project work, consulting, volunteerism and website resources
Lessons 8: Implementation Challenges
Lack of Data on Individual Organization’s Demographics
Lack of Training of Managers
Lack of Funds for New Employee Benefits
Lack of Research Examining Return On Investment
Lesson #9: The Importance of Mentors
“Cultivate relationships with those who can teach you.” – Baltasar Gracian, The Art of Worldly Wisdom
Reverse Mentor Study with The HartfordJanuary 2013
Lesson #10: Set Aside Time for Innovationand Brainstorming
The Sloan Center on Aging & Work at Boston College’s 2013 Charette is a fast-paced, structured process that includes a series of tasks and team interactions resulting in an innovative practice prototype designed to challenge your company’s multi-generational workforce.
2013 Charette: Innovative Practices for Multi-Generational Workforces
Jacquelyn James, Ph.D.
Director of Research
Sloan Center on Aging & Work at Boston College
617-552-2860