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From the Director
Celebrating older workers
By Robert P. Dean
National Employ Older Workers Week, which this year is the week of September 24 to 28, honors workers age 55 and over, and the wisdom and experience that they bring to the workplace. Older workers comprise an increasing proportion of the labor force. According to the U.S. Bureau of Labor Statistics, the number of Americans age 65 or older who are working or looking for work has grown by 50% since 1980; and, 60% of Americans age 55 to 64 are still working. The Bureau estimates that by 2010, 20% of the workforce will be age 55 or older.
There are a number of reasons why people are working longer and delaying retirement.
According to an April 2006 MetLife study entitled, “Living Longer, Working Longer: The Changing Landscape of the Aging Workforce,” as Americans live longer, healthier lives, many are continuing to work past the standard retirement age or are returning to work full or part-time after retirement. The study found that older workers remain in the workforce for two primary reasons: financial necessity and the desire to remain active or to try something new. Some older workers simply can’t afford to stop working. Many older Americans face retirement with an over-reliance on Social Security, a lack of sufficient personal savings, and without any pension or 401(k) plan. Personal savings in the United States (as a percentage of disposable income) has declined steadily over the last 20 years, while one-third of all full-time workers in Massachusetts lack any form of pension or 401(k) coverage. When Social Security was enacted in 1935, men who reached the Social Security age of 65 were expected to live an additional 12 years, while women were expected to live another 13 years. Today, a man who reaches age 65 has an average life expectancy of 81, while a woman who reaches age 65 has an average life expectancy of 84. As a result of this increased longevity, the retirement age for Social Security is being increased over time from age 65 to age 67. Social Security remains the primary source of retirement income, and accounts for 90% of the income of at least 33% of all senior citizens.
In regards to the desire of many older workers to remain active or to try something new, the MetLife study found that as individuals age a significant shift occurs in their motivation for working. According to the study, economic incentives still dominate for those age 55 - 59, with 72% of those in this age group stating that their need for “income to live on” was their primary reason for working. However, the motivation to work shifted for workers aged 66 and older, with 72% saying that their primary reason for working was a desire to “stay active and engaged”. Many in this age group also stated that they wanted “the opportunity to do meaningful work” and that they enjoyed “the social interaction with colleagues”. The study also found that older workers are more likely to pursue alternative work arrangements such as self-employment or part-time work as they age. The study recommends that employers try to understand the needs and preferences of older workers, recognize them as the important resource they are, and create new opportunities for them in the workplace. These opportunities could include career changes at older ages, more part-time work, more gradual retirements, new types of careers, and other changes that would enhance job satisfaction, productivity, and retention.
Elder Services is pleased to offer a program that provides experience and training to older workers who want to develop or update their job skills. The Senior Community Service Employment Program assists those age 55 or over who meet eligibility criteria to learn new job skills through on-the-job training and helps with job placement. As we celebrate National Employ Older Workers Week and the collective wisdom and experience that older workers bring to the workplace, we encourage employers to consider the advantages of hiring older workers when job opportunities become available.
On an unrelated note, Berkshire County seniors have once again been well served by their elected representatives to the Massachusetts House and Senate during the past year. Senator Benjamin Downing, and State Representatives Daniel Bosley, Denis Guyer, William “Smitty” Pignatelli, and Christopher Speranzo have been steadfast in their support of the need for sufficient funding for home and community-based services for seniors. On behalf of Elder Services, I would like to thank Senator Downing and Representatives Bosley, Guyer, Pignatelli, and Speranzo for their support of Berkshire seniors and the services they of home and community-based services.
Robert P. Dean is Executive Director of Elder Services