Benefits/Alternative Work Arrangements: The Aerospace Corporation offers the following alternative work arrangements to its full- and part-time employees: flextime, telecommuting, and a formal phased-retirement program. The company also offers full-time employees the option of working compressed work schedules. Full-time employees are eligible to move to part-time work on a permanent and temporary basis.
Opportunities for Retirees: The Aerospace Corporation currently has 3,240 retirees and an employee directly responsible for retiree relations. The company stays connected with retirees by communicating regularly, by inviting them to organization events and celebrations, and by formally acknowledging retirees when they retire. The corporation has launched a retiree Web site with sections on group insurance, retirement, and news. The company also offers retirees temporary work assignments, and consulting and contract work.
Age of Workforce: Fifty-three percent of the company’s employees are age 50+. The average tenure of employees age 50+ is 16 years.