Metro Area Business Leaders Prepare for an Aging Workforce
By: Source: AARP.org Date Posted: 2005-10-19 15:35:43
A major shift is taking place in the Washington Metropolitan Area and throughout the nation. The workforce is aging rapidly. As this trend continues, employers able to attract and retain mature, experienced workers will gain a competitive edge.
AARP recently convened 100 area business leaders at a forum titled "Staying Ahead of the Curve: Employer Best Practices for Mature Workers."
Sponsored by AARP District of Columbia, Maryland and Virginia; the Greater Washington Board of Trade; and the Washington Business Journal; with George Washington University; Workforce Organizations for Regional Collaboration (WORC); and the DC Department of Employment Services; the forum presented local best practicies and practical solutions for meeting changing workforce needs.
Staying Ahead of the Curve
Keynote speaker Deborah Russell, AARP Director of Economic Security, provided a national overview on the aging of the workforce and its significance to employers. She noted that in 2000, 13% of US workers were 55 or older. By 2015, 20% of the workforce is projected to fall in that age group. Despite the changing demographics, 80% of employers do not offer any provisions to appeal to the concerns of mature workers.
According to Russell, this is a big mistake. Not only are older workers the fastest growing sector of the economy, but they "offer businesses a unique combination of experience, loyalty, enthusiasm and a strong work ethic." Russell shared a range of strategies businesses can employ to Stay Ahead of the Curve. For a copy of Deborah Russell's presentation, email Grier Mendel.
Setting the Local Context
Robert A. Peck, president of the Greater Washington Board of Trade, set the local business context. According to Peck, the Metro area has led the nation in job growth 4 years running and is close to an official labor shortage already.
According to Peck, "The question all of us must ask is: Are we doing all we can to attract and hold on to (mature) workers who are loyal, productive, reliable, experienced, and who have a strong work ethic?" Read the transcript of Peck's Remarks.
Sharing AARP Resources for Employers
AARP District of Columbia Director Mimi Castaldi let employers know about an array of AARP employer resources including:
- AARP's Best Employers for Workers Over 50 Program which honors employers with exemplary policies to attract and retain the mature workers. Applications are now avaliable for the 2006 Best Employers program.
- AARP's Featured Employers Program which includes companies committed to hiring older workers for their leadership, experience and skills.
- AARP's Web-based Employer Resource Center which provides information and research for employers to get ahead and stay ahead of the curve.
Read the transcript of Castaldi's Remarks
AARP DC received a District Council resolution honoring its efforts on behalf of mature workers.
Best Employers Share Policies
Representatives of three area AARP Best Employers for Workers Over 50 discussed a range of successful initiatives
Contact Us
AARP District of Columbia is committed to being a resource for District employers on mature worker issues. Please email any suggestions about how we can help you meet the needs of an aging workforce.
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