Mather LifeWays to Release 360° Aging In the Workplace Results
By Richard Shank
Mather LifeWays Institute on Aging will soon release results from the first year of the 360° Aging in the Workplace Survey. This report specifically outlines major findings in the Long-Term Care labor force.
The survey is designed to provide employers with measures of job satisfaction and strategic aging-related information to help manage the workforce. It was inspired by the growing need for organizations to be able to assess their own age-related employment dynamics in light of our rapidly aging society.
In the coming years, many professions and employers are going to face a potential labor shortage because of population aging. As a consequence, employers will be better positioned to manage this workforce transition if they assess the broad range of problems being created by this demographic shift. This survey is designed to provide timely and direct information on three key aging and employment issues: Retirement Planning and Post-Retirement Employment, Intergenerational Communications, and Family Caregiving.
Retirement
With the percentage of older workers on the rise, organizations are now in the position of having to manage and recruit a talent pool that contains a growing number of older adults. This requires an understanding of the retirement needs and plans of employees of all ages, especially older workers who are now, more likely than ever, planning to remain in the workforce past traditional retirement age or work part-time after retirement. To meet this need, the 360° Aging In the Workplace Survey provides an overview of an organization’s employee-specific retirement plans; uncovers how knowledgeable employees are of the retirement policies available to them; and projects the proportion of an organization’s employees who plan to or need to work in their post-retirement years.
Findings from the first year of surveying organizations reveal that knowledge of retirement plans varies widely within each organization; however, every organization faces the prospect of many workers who plan to work well past the age of 65. The benefit is that there will be increasing opportunities for employers to retain highly-skilled workers in their post-retirement years, especially on a part-time basis.
Intergenerational Workforce Dynamics
While the percentage of older workers in the workplace continues to rise, the workforce is becoming more age diverse. The potential for workplace intergenerational conflict and misunderstanding is now greater than ever. Recent studies have shown that there is an alarming lack of interaction among workers of different ages, and that these interactions are riddled by stereotypes and unfair judgment. This fact places indicators of age-related workforce cooperation at a premium because intergenerational conflicts will undermine teamwork, morale, and productivity wherever they exist.
The Mather LifeWays 360° Aging In the Workplace Survey provides employers with a barometer that assesses the intergenerational dynamics of their workplace. Specifically, the survey measures the level of conflict and cooperation that exists between workers of different ages.
Findings from the first year of study reveal that a great deal of intergenerational conflict and stereotyping exists. Furthermore, it is found that these conflicts undermine the job satisfaction of employees who, consequently, view the workplace as unfriendly to workers of all ages. Previous research indicates that teamwork is an important driver of job satisfaction, even when working conditions and pay levels are perceived poorly. Our analysis suggests, given the current age demographic makeup of the workplace, that intergenerational communication be given careful attention whenever teamwork issues arise in the workplace.
Family Caregiving and the Workplace
Finding a balance between family and work life is a constant struggle for every generation of workers. Younger employees just starting families face the prospect of finding a shrinking supply of affordable childcare, while older employees are balancing caring for frail elderly parents, grandchildren, and possibly chronically ill children.
In an effort to uncover how this type of caregiving impacts the workplace, the survey provides employers with an estimate of the prevalence of family caregiving and its impact on absenteeism and career advancement. According to the AARP, the yearly cost of family caregiving to employers is $6.6 billion to replace employees who quit for more flexible jobs, and $5.1 billion to recover from absenteeism.
Sixty-six percent of responding employees reported they provided care to at least one family member or loved one in the past year, and more than 50% of employed caregivers reported that their family caregiving and work-related roles came into conflict. These conflicts have resulted in increased absenteeism, work-related stress, and productivity losses. However, the impact of caregiving on work performance and attendance can be minimized by employers who actively foster a supportive environment for employees attempting to balance their responsibilities at home and work.
Obtaining the Report
The report, available from Mather LifeWays Institute on Aging, provides a far more comprehensive overview of the findings than can be presented here. It contains specific information about the retirement planning needs and post-retirement employment plans of Long-Term Care workers; the relationship between intergenerational workplace dynamics and job satisfaction; and the prevalence and impact of family caregiving on the Long-Term Care workplace.
The 360° Aging In the Workplace Survey is available to any industry as a fee-for-service workforce development tool. Participating organizations receive a complimentary workforce toolkit that provides resources to help with retirement planning, recruiting employees during their post-retirement years, intergenerational teamwork dynamics, and tools to help employees balance family caregiving and employment.
Organizations wishing to learn more about opportunities to administer the survey in their workplace, or inquire about obtaining a toolkit or the full first-year report should contact Dawn Lehman, PhD, Mather LifeWays Director of Education, at dlehman@matherlifeways.com.
Comments? Tell us what you think: askaia@matherlifeways.com
