This Week's Herman Trend Alert The Consequences of Virtual Meetings

The Herman Trend Alert September 12, 2001 Older and Wiser: The Resurgence of Older Workers Not so long ago, workers over 45 were afraid to lose their jobs. They were too old, no longer young and energetic, so employers probably wouldn't hire them. By the time they reached the age of 60 or 65, they were expected to retire, to go out to pasture. Their lives were over. Today the picture is much different. Older workers take partial retirement, still earning money from part-time work. Or they postpone retirement to work just a little longer. With the labor shortage, many jobs are available. Employers hire them because they need people and older folks seem to be able to do the job. The labor market is shifting, though the transition has been delayed temporarily by the slowdown in the economy. The transition will move the employment market to actively seek older workers because of their maturity, wisdom, stability, and attitude toward being productive. As the economy heats up again, competition for good workers will intensify, with recruiters becoming increasingly aggressive. Those recruiters will find it more and more difficult to locate young people to fill the open positions. There just won't be enough to fill all those jobs. Gradually, those recruiters will turn to older candidates. Older workers will find themselves in demand, with greater opportunities to make choices about where they will work. Some employers will direct their recruiters specifically to pursue applicants with more years of experience and more attractive attitudes about performance and longevity. By nature and values, those senior people will be more stable and thus will be sought- after by employers tired of the churning of their workforce. The implications of people working significantly longer are fascinating. The expectation that leisure travel will increase dramatically must be modified. The demand on the healthcare system may also be deferred, since those senior citizens will be active mentally and physically. If they're still working, people eligible for Social Security may postpone their withdrawals. Older workers will become a significant force in our economy. Their votes will be influential. Their coaching and mentoring of younger executives will balance enthusiasm with seasoning, producing stronger business results. Comments from our readers: An additional comment on your trend of older Americans staying in the workforce ... Many baby boomers will HAVE to stay in the workforce, because they are ill-prepared for retirement - they have overextended, getting into consumer debt, and many have inadequate retirement savings. Social Security income will not be enough to maintain acceptable lifestyles; therefore, they will continue to work as long as possible. Denise Sellers © Copyright 1998- by The Herman Group, Inc. -- reproduction for publication is encouraged, with the following attribution: From "The Herman Trend Alert," by Roger Herman and Joyce Gioia, Strategic Business Futurists. (800) 227-3566 or http://www.hermangroup.com. The Herman Trend Alert is a trademark of The Herman Group, Inc." BACK BY POPULAR DEMAND: RETENTION SPECIALIST PROGRAM A growing number of people have expressed an interest in attending our Employee Retention Specialist Certificate Program. We'd like to schedule on that's convenient for those who want to attend, but need your feedback to do so. Please place RETENTION SPECIALIST in the subject line and Joyce will personally call you back to schedule the workshop. Or you can call Joyce directly at 336-210-3548 (PDT this and next week). BUSINESS IS PICKING UP Most employers are unprepared. The recovery will bring a new set of challenges for employers that have been in prolonged contracted mode. They will need more skilled workers or will need now to begin to upskill their current staffs. But organizations can not engage in Strategic Workforce Planning, when they don't know how. That's where The Herman Group can help. We can help you with your "People Review"----large or small---so that you will know who you will need and when you will need them. . . and we can also guide you to the best sources for the people you will need. For more information, call Joyce at 336-210-3548 or e-mail joyce@hermangroup.com. FIND OUT WHAT YOUR EMPLOYEES REALLY THINK AND FEEL Discover what’s really going on in the hearts and minds of your employees. Our InnerViews interviewing service uses SPHRs and PHRs, certified human resource professionals to probe for the information you really need to know. Exit and Stay Interviews, as well as Why-Didn't-You-Take-Our-Offer Interviews. Call Rosalie Catalano at 937-416-7066, or read more at: http://www.hermangroup.com/retentionconnection/exit_interviews.html. 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