“Madonna generation” of women aged over 50 defy jobs recession

In its latest Work Audit report, published today, the Chartered Institute of Personnel and Development (CIPD) looks at how the jobs recession that began in 2008 has affected men and women across the age spectrum:

The report Age, gender and the jobs recession, which is based on official statistics from the Labour Force Survey paints, at least in some areas, a largely encouraging emerging picture for older women workers, both employed and self-employed.

However, such a report, also put into context with a detailed analysis of today’s latest employment figures, needs more space than can be given here.

Below is a link to CIPD’s own press release and above a link to the report itself.

http://www.cipd.co.uk/pressoffice/press-releases/Madonna-generation-women-over-50-defy-recession-180412.aspx

Nothing new to say about ageism

An article in yesterday’s Observer was entitled Ageism is back as unemployed over-50s struggle to get back into work. From this one might have hoped that it would have revealed some deep but profound secret that we weren’t aware of in that somewhere, for a period of time, ageism had gone away.

Well it didn’t and it hasn’t. There was no new news and certainly no good news in this piece.

The Work Foundation Director commenting that “The older worker had not fared too badly over recent years, and there were more over-50s in work now than before the recession” really missed the point.

The problem with ageism largely isn’t in the workplace itself it’s with older people trying to get back into the workplace – two entirely separate issues.

The reason there are more over-50s in work is probably twofold; there are more over-50s around, and those with jobs are staying on in work longer, for a variety of reasons.

The optimist in me says that, over time, if there are more older workers around, employers will appreciate more what they have to offer and this will eventually translate into actually recruiting new older workers. Is this just “pie in the sky” and, if not, how can we accelerate the process?

Read more at http://www.guardian.co.uk/society/2012/apr/15/unemployed-older-workers-struggle-to-find-work?INTCMP=SRCH

 

Deciding when to retire

Today, when standard mandatory retirement ages are a thing of the past, it is more important than ever for employers to understand some of the factors underpinning the retirement decision. For example, the timing of retirement where one of the key myths is that a person’s retirement date will depend largely on when their partner decides to retire, particularly in the case of women.

However, as a recent article in the Wall Street Journal indicated, the days when a husband automatically retired at 65 with a corporate pension and his wife dutifully followed him, are over. Most women approaching retirement age are now working, and many have their own retirement savings and viewpoints about the nature and timing of retirement.

Many of today’s older women entered (or re-entered) the workforce later than their partners following a period of non-work or part-time working while they raised their children. Consequently they may be at their peak with prospects ahead of them when men slow down and want out.

Add to this the fact that retirement, particularly for women, who tend to live longer, can now last for up to thirty years or so and women may look with horror at the prospect of relinquishing an income, social relationships and recognition for many potentially unfulfilling years ahead.

Of course, it’s not all bad news; many people – female and male – have very positive retirement plans. But, as the article indicates and my own experience with coaching and advising older people bears out, many individuals simply don’t talk to each other in any meaningful way about retirement beyond a shared acknowledgement that it will be good to leave the rat race behind.

Employers can help in many ways, not least through providing meaningful, couple-centred later life planning programmes and coaching. That may sound overly altruistic and unrealistic in this economic climate but, if employers want to see their older workers making positive transitions into retirement and being clear and open about their future plans, something has to change.

See the WSJ article at:

http://online.wsj.com/article/SB10001424052970204571404577255662010466038.html?KEYWORDS=retire

Abysmal knowledge about pensions

It has always seemed to me remarkable that our knowledge about many key aspects of life – whether financial, social or health-related – has to be obtained virtually by osmosis. Financial planning, parenthood, divorce… where do we learn what we really need to know about these and many other vital experiences? The answer, in respect of pensions at least, is that many of us don’t and either exist in a state of ignorance or just muddle by.

A worrying report in today’s Daily Mail, and no doubt elsewhere, highlights that the government is considering taxing the state pension at source. For now that’s not the worrying part, as experience shows that there is often (usually?) a huge gap between media scaremongering and what eventuates.

No, what did alarm me is that the article highlighted that research has shown that only four in 10 elderly people know the state pension is taxable and many discover it only when HM Revenue and Customs tries to claw back the tax later.  How can this have fallen under their radar?

Apparently about 5.6 million of Britain’s 12m pensioners pay tax, while the rest have an income below the tax-free threshold, £10,500 for 65- to 74-year-olds and £10,660 for those 75 and over.

John Whiting, tax director of the Office of Tax Simplification (OTS), which advises the Treasury on tax matters says bringing the state pension into the pay-as-you-earn system could reduce bureaucracy and would remove the need for around 1.6 million pensioners to fill in self-assessment tax forms.

Well yes. But let’s hope if this comes about that some of the money that is saved is invested in mandatory workplace pensions and retirement training.
Read more: http://www.dailymail.co.uk/news/article-2127157/Granny-tax-2-Fears-elderly-hit-state-pension-set-taxed-source.html#ixzz1rdPMlnMp

Talking Point: Do you really know how to get the best out of your older workers?

As published on HRzone

Posted by Dianne Bown-Wilson, chief executive of in my prime in Managing people, Business lifestyle on Tue, 27/03/2012 – 15:43

Of all the things that we aspire to during our career, being an ‘older worker’ probably isn’t one of them.

Yet, as we age, this identity is thrust upon us and, with it, a range of stereotypes based on other people’s perceptions.

As a 56-year old manager recently pointed out: “Suddenly all that people seem to see is your grey hair, and their attitudes toward you start to change.”

But as studies have confirmed, individuals don’t primarily identify with being ‘older workers’ themselves, but rather as still being the person that they feel they have always been. No wonder that this situation can generate conflicting feelings about one’s position as an older person in today’s workplace.  

Herminia Ibarra, INSEAD professor of organizational behaviour and author of ‘Working Identity’ maintains that our identity at work is an amalgam of how we see ourselves in our professional role, what we convey about ourselves to others and, ultimately, how we live our working lives.

But for older workers facing change at a number of levels, this scenario may generate a variety of problems. For example, after many years in a given role, older employees may have an entrenched view of their work-related identity.  

They may also become defensive as they realise that their career has plateaued and become increasingly withdrawn as they perceive a future where working life is likely to just involve ‘more of the same’. But many identity issues for older workers also emanate from changes to the nature of their work.

Negative stereotypes

In his book ‘The Start-up of You’, LinkedIn co-founder, Reid Hoffman, says: “There used to be a long-term pact between employee and employer that guaranteed lifetime employment in exchange for lifetime loyalty; this pact has been replaced by a performance-based, short-term contract that’s perpetually up for renewal by both sides.”  

For many older people who started work in a time of jobs-for-life, dealing with today’s lack of security and uncertainty in career progression terms can be traumatic and challenging. At worst, they may feel short-changed; at best, uncertain of how to negotiate this unfamiliar terrain in order to continue to being successful.

The situation has only been made worse by phenomena such as globalisation and technology, which have fuelled demand for new skills, increased levels of flexibility and continuous learning.

As a result of all of this, older people can fear losing their status and expertise and start questioning their purpose and relevance, while wondering whether and for how long they can keep up the pace. These pressures can also lead to generally unspoken fears along the lines of ‘who am I these days?’ and ‘what do others expect from me?’

One of the issues is that stereotypes about older workers tend to be based on a range of either conscious or unconscious assumptions. These include the belief that they are resistant to change; are slower and less flexible; are reluctant to participate in training or re-training and resent younger managers or colleagues.

The majority of older workers can overcome these perceptions by virtue of their own continuing high performance, adaptability and resilience levels, however. But some do inevitably struggle with change and this scenario can lead to behaviours and attitudes that serve to reinforce negative stereotypes.

For example, older people may be fearful of losing their jobs and of being unable to find another one due to their age. They may also feel threatened by younger colleagues and afraid that they are starting to underperform.

Such fear and defensiveness can lead to individuals feeling resentful and aggrieved, but such feelings not only serve to entrench ageist perceptions but can also damage their own position.

Differing requirements

As a result, HR professionals and line managers who recognise this situation and appreciate the validity of such concerns should take steps to deal with them straight away in order to prevent them from becoming entrenched.

But dealing with older workers’ attitudes and behaviours effectively does entail understanding something of each individual’s personal circumstances. For instance, for many people, as both their children and parents age and grandchildren start to arrive, it is a time of great personal change and potential role conflict.

But the practical implications of supporting younger and older generations at the same time may generate new financial and emotional pressures. Retirement starts to loom, but it may be viewed more as a concern than something to be welcomed.

As for continuing to work, older employees have a range of different aspirations – some will want to continue progressing, for example, while others may want to slow down and put in fewer hours or take on less responsibility.

Some may want to change roles, careers, or even become self-employed but they may also lack the confidence to do so. Others might feel frustrated and marginalised on realising that they are perceived as ‘older’ and on feeling that they are being overlooked in terms of further development.

Still others may be bored and lack an interesting challenge, however, or they may be stressed, facing burn-out and lacking any kind of work/life balance.

Awareness of these and other concerns should ideally come naturally through ongoing informal communication at line manager level, where issues can be dealt with sensitively and appropriately.

Appropriate support

Pertinent responses might include discussing various options such as flexible working, particularly for those with caring responsibilities, or re-training/upskilling for those who need to be reassured of their continuing value.

Appraisals and performance management processes are likewise fundamental as a means of providing focused feedback and they should be used as a forum to set goals and future direction.

However, much can also be done on an informal basis. Mixed age teams, ‘buddying’ schemes and the involvement of older people in project work can both benefit the organisation and help older workers increase their comfort levels around change.

Mentoring and coaching programmes can likewise reinforce older people’s sense of value and assist them in exploring their changing identity.

Alongside such support, however, training around financial, life planning and work-life balance should be also provided for workers of all ages rather than just the usual ‘too little, too late’ pre-retirement programmes.

Health and wellness initiatives are likewise vital and should involve all generations in order to reinforce the message that older workers must be included and valued rather than simply maginalised.

Ultimately, supporting older workers effectively comes down to recognising that, although some are having to work longer purely for financial reasons, many find personal meaning in their employment and are committed to it.

“I am an engineer and a good one,” a 67-year old told me recently. “This is who I am and as long as I can deliver what they need, why does it matter how old I am?”

Dianne Bown-Wilson is chief executive of workplace age management and diversity consultancy, in my prime.

 

To see the article as published on HRzone click below – you will have to be registered and logged in.

http://www.hrzone.co.uk/topic/managing-people/talking-point-do-you-really-know-how-get-best-out-your-older-workers/119012

A little part-time job

It’s commonplace for older people say they’d like a little part-time job when they retire. But just how small can that job be?

A press release issued this week by MGM Advantage reveals how today’s retired workforce spends over 300 million hours a year in part-time work. In terms of the total retirement population this equates to 9%, which is over 1 million people. Of this group, 832,000 are aged 65 and over and 278,000 are between 55 and 64.

All well and good and interesting. However, looking at how that work is broken down reveals the findings to be, frankly, somewhat bizarre.

Number of hours a week retired people spend in part-time work Number of retired people doing this
1 – 2 hours 402,379
3 – 5 hours 393,021
6 – 10 hours 177,795
10 – 15 hours 56,146
16 – 20 hours 46,788
Over 20 hours 28,072

Over 400,000 retired people only doing 1-2 hours paid work a week? What sort of jobs do they do – and how much do they get paid to make doing any work at all at this level worthwhile?

Unfortunately, MGM Advantage themselves were unable to shed light on this, merely confirming that this was paid work as opposed to “charity work, voluntary work, caring for parents and grandchildren etc.”

The fact that nearly 800,000 older people are working less than 5 hours a week and yet still being considered as part-time workers surely calls into question the role and nature of work past retirement. And, of course, that’s without examining the issue of how many would like to work more – or less.

Any views from anyone on what’s going on here?

 

 

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