This Week's Herman Trend Alert

Aging World Populations
 

  The Herman Trend Alert

October 12, 2005

Unhappy Senior Workers

We have forecasted a substantial growth in workers over 55 years of age, projecting that we will see significant increases in the number of employees in their seventies, eighties, and nineties. The leading edge of this trend is already evident. Reasons for people continuing to work include their personal values and a desire to be productive.

There is more to this picture. While a large number of older citizens enjoy working and making a difference, they also want to be with other people. Opportunities to serve as coaches, mentors, and role models are very satisfying for employees who have climbed their way up the ladder of success. All these reasons sound very positive and motivating, and they are.

But there is a dark side to the trend. Many older workers will continue to report for duty because they need the security of their employer’s benefit program. The emphasis today is on health insurance, an important support that is often unaffordable for retirees. While government programs such as Medicare help, the level is described as barely survival by seniors who need extended employment. Other benefits are important, too, but are over-shadowed by the vital need for medical and prescription drug coverage.

This circumstance, under which a number of employees will work because they have to instead of because they want to, will create a level of irritation and feeling of lack of control. Neither of these attitudes is healthy for the employer or the employee. Human resource specialists and managers will need to build their sensitivity to these attitudes of a portion of their older workforce.

Wise employers who can benefit from the wisdom, experience, and maturity of older workers will maintain a consciously supportive insurance program for employees. Coverage that includes people who work part-time, flextime, or job-sharing schedules will enable employers to attract more stable, dependable, high-performing seasoned employees. Some of these workers will be in a financial position to need only partial assistance; other will need a full support package. Designing flexibility into benefits design and administration will make a big difference in the competition for top talent.


© Copyright 1998- by The Herman Group, Inc. -- reproduction for publication is encouraged, with the following attribution: From "The Herman Trend Alert," by Joyce Gioia, Strategic Business Futurist. 336-210-3548 or http://www.hermangroup.com. To sign up, visit http://www.HermanTrendAlert.com. The Herman Trend Alert is a trademark of The Herman Group, Inc."

IGNITE HOPE FOR A YOUNG PERSON IN NEED
Our Trend Alert last December 23rd was about FIRE a non-profit in Detroit helping young people to use music to lift themselves out of poverty. We urge you to support this worthwhile cause with a donation of money or a used instrument? To read more about FIRE and the great work it is doing, see our FIRE Trend Alert at http://www.hermangroup.com/alert/archive_12-23-2015.html.

LOOK YOUNGER-FEEL YOUNGER: AMAZING FOOD SUPPLEMENT NOW AVAILABLE
Joyce continues to be surprised at the number of improvements she and her husband enjoy as the result of taking Micronized Purple Rice: from thicker hair to the disappearance of varicose veins, from improved energy and sleep to faster thinking and the absence of those annoying bouts of CRS (Can't Remember Stuff). It has been found to lower cholesterol and blood pressure, and even reduce blood sugar to normal levels. Why? Because it works on a cellular level. To receive a 5-page article, call Joyce at 336.210.3548 or email her at joyce@hermangroup.com.

BE RECOGNIZED AS AN EMPLOYER OF CHOICE® in 2016
We've seen a strong resurgence in interest by employers in being recognized as Employer of Choice®. Celebrate your employee-centered corporate culture! This coveted award is well worth the effort, yet is not easy to achieve. Download the extensive application at http://www.EmployerOfChoice.com; or for a Word® version, drop a note to Joyce@EmployerOfChoice.com or call Joyce @ 336.210.3548. Get the recognition you deserve?

To read this Herman Trend Alert on the web: http:// www.hermangroup.com/alert/archive_8-24-2016.html.


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