Take a look around. We live in a country that is being transformed in ways both obvious and hidden by older Americans. Our growing numbers and enduring vitality ensure that this disruption will continue to roll through the American economy, culture, society, and politics penetrating deep into the very marrow of the nation.
Older Adults
We the people, at midlife and beyond, represent the third-largest economy in the world, after China and the U.S. as a whole. But we are more than just consumers and wealth holders: We are workers, thinkers, influencers, and innovators with the power to shape markets and exert pressure on corporations and elected leaders.
And we must use that power to push for an America that is better prepared for our needs as we¬¬ and those who follow us journey through life to old age. That’s a good story, and it’s ongoing. From work and jobs to health care and leisure pursuits, things look the way they do because of your power. And there’s more change and a brighter future coming for everyone. Let’s take a look at this phenomenon one sector at a time.
Despite decades of rampant ageism in the workplace, the number of workers 65 and older has mushroomed by 117 percent in a span of 20 years, according to the U.S. Bureau of Labor Statistics. Remarkably, employment of individuals 75 and older has increased by the same percentage.
And the trend is going strong. “I’m getting a lot of requests by employers to talk to their teams about how they can integrate older workers in their workforce,” says Janine Vanderburg, senior strategist for Changing the Narrative, a national campaign funded by the NextFifty Initiative to end ageism.
Hiring older workers is not mere altruism: An estimated 10 million jobs in America are sitting unfilled. This has forced a change in recruitment to target those of all ages, Vanderburg says. Older workers’ preference for remote work, especially in retirement, is pushing employers to be more flexible about where work happens. There are also greater opportunities for part-time work.
One company with an informal “phased retirement” program is the financial services firm Principal. Employees 57 and older with at least 10 years of service are able to transition from full-time to part-time jobs. Principal also has a “boomerang” program that allows former employees to return as part-timers. “We’re encouraging managers to engage with folks who are planning to retire and have a discussion about the parts of the job that the person really enjoys and what the needs of the company are,” says Jon Couture, Principal’s chief human resources officer. Article courtesy of AARP.