Pensions are Not Enough: The Individual Company and Its Older Workers

1951 ◽  
Vol 24 (2) ◽  
pp. 127
Author(s):  
Edwin Shields Hewitt
Keyword(s):  
Older Workers ◽  
The Individual

scholarly journals Planned Retirement Timing in Europe: Are Europeans Adapting to the Policy of Extending Working Lives

2021 ◽  
Vol 6 ◽  
Author(s):  
Moritz Hess ◽  
Laura Naegele ◽  
Lena Becker ◽  
Jana Mäcken ◽  
Wouter De Tavernier
Keyword(s):  
Older Workers ◽  
Welfare States ◽  
Retirement Age ◽  
Policy Makers ◽  
Individual Level ◽  
Working Lives ◽  
Gender Education ◽  
Self Reported Health Status ◽  
The Individual ◽  
Country Specific

As populations are ageing concerns regarding the sustainability of European welfare states have come to the forefront. In reaction, policy makers have implemented measurements aimed at the prolongation of working lives. This study investigates weather older workers have adapted their planned retirement age, as a result of this new policy credo. Based on data from Survey of Health, Ageing and Retirement in Europe (SHARE) the analysis shows an increase of the planned retirement age (1.36 years) across all ten European countries investigated, albeit with country-specific variations. Variations on the individual level can be detected in regard to gender, education and self-reported health status.

scholarly journals The role of employers in retaining older workers

2014 ◽  
Vol 9 ◽  
Author(s):  
Caroline Howe
Keyword(s):  
Older Workers ◽  
Online Survey ◽  
Subjective Wellbeing ◽  
Older Worker ◽  
Creative Solutions ◽  
Employer Engagement ◽  
Low Levels ◽  
Working Day ◽  
The Individual

Background: Previous research into the retirement experience tends to focus on the individual experience. This study looks at the role of work and retirement on subjective wellbeing and how corporations must change to engage workers for longer if they themselves are to remain sustainable.Objectives: The objective of the study was to ascertain the need for creative solutions for older employer engagement.Method: Using mixed methods Internet-based research methodology, 317 people were recruited with an online survey. Thematic content analysis was utilised to explore trends that emerged from the qualitative analysis.Findings: The principle finding was that, employers need to rethink how they engage the older worker to ensure that their workforce remains stable.Discussion: Low levels of life satisfaction were linked with being dissatisfied at work. Being at work also decreased the likelihood of social interaction. In contrast retirement offered freedom from the constraints of work. Employers need to adopt suggested solutions around flexibility, offering choices and a differentiation of the meaning of the “working day” to this cohort if they are to be successful in retaining older workers in employment.Conclusion: The results are significant because governments, both local and federal, are encouraging an ageing workforce to remain in work longer. However employers need to consider how they can create greater autonomy for older people in the workplace to encourage them to want to work longer.

The impact of age on innovation

2015 ◽  
Vol 38 (4) ◽  
pp. 404-420 ◽  
Author(s):  
Richard A Parsons
Keyword(s):  
Older Workers ◽  
Content Type ◽  
Older Employees ◽  
Human Resource Department ◽  
Age Diversity ◽  
Independent Variable ◽  
The One ◽  
The Individual ◽  
The Cost ◽  
The Impact

Purpose – This paper aims to develop a model of individual innovation based on an employee’s innate propensity to innovate and the specific costs and benefits expected to the individual from the innovation. This model is then used to study the way an employees’ age will impact innovation. Design/methodology/approach – This paper proposes variables which drive an individual’s innovative behavior based on a literature review. This theoretical model is then maximized to show how age drives an employees’ innovation output in three ways. A small survey is used to substantiate the theory. Findings – In this model, the age of the employee becomes an important independent variable with negative elements associated with both the cost and benefit the employee will receive from their innovation efforts. However, age will be positively associated with an employee’s ability to implement and capitalize on their innovation. Practical implications – Firm’s must pay attention to the career life cycle of their employees. The human resource department must take on the task of focusing on delivering the programs needed to support older employees’ particular needs relative to producing innovation. Social implications – As the Western workforce ages, considerations for dealing with older workers and age diversity will become more important. Models such as the one developed in this paper will be important for understanding and managing the changing workforce. Originality/value – This model develops a theory of how age can impact an employee’s innovation in three specific ways that have not previously been addressed in the literature. This model also proposes an explanation for surprising results found in several prior studies.

scholarly journals Workers age 50 and over in the Brazilian labor market: is there ageism?

2019 ◽  
Vol 26 (2) ◽  
pp. 161-179 ◽  
Author(s):  
Wilson Amorim ◽  
AndréLuiz Fischer ◽  
Fabiana Bitencourt Fevorini
Keyword(s):  
Labor Market ◽  
Older Workers ◽  
Human Resources Management ◽  
Public Servants ◽  
Private Companies ◽  
Content Type ◽  
Specific Objective ◽  
The Individual ◽  
Age Range ◽  
Policies And Practices

Purpose This paper deals with the insertion of workers aged 50 years or more in the Brazilian labor market. Considering this question, the purpose of this paper is to raise evidence about the existence of ageism – prejudice against that age range. The paper identifies the characteristics of participation by workers age 50 or older in Brazil’s formal labor market. The paper also identifies whether and how the specific issues of these workers are handled in the individual employment contract, with the human resources management (HRM) policies and practices of a group of companies. Design/methodology/approach The study applied a quantitative approach in an analysis of the older population in the Brazilian labor market (Annual Social Information Report (RAIS) database and “MEPT” survey database – 2011/2016). The RAIS data are collected annually by the Ministério do Trabalho e Emprego – MTE, coming from all establishments with or without formal employees, whether statutory (public servants) or private organizations. MEPT survey is an annual study focused on quality of the organizational environment and HRM practices (organizations participate voluntarily). A qualitative approach was applied also in a document content analysis on information about HRM policies and practices based on MEPT companies’ research evidence reports. Findings There is evidence of ageism among private companies in Brazil with better HRM. These companies hire proportionally less old workers than the market and their HRM policies and practices scarcely handle with employees. The workers age 50 and over among the workers employed (private and mixed capital companies) have growing participation in the labor market. The profile of these workers is predominantly male, higher level education considering the market average, and working under longer lasting formal contracts comparing all workers combined. People involved in the individual hiring of workers from this age group do not even give this subject much attention. Research limitations/implications The specific objective of verifying if and how the specific issues that workers of 50 years and older are dealing; in the individual hiring for work, encountered limitations based on the restricted character of the data presented. In particular, the information related to the best companies (MEPT) is representative only of its own group and thus is restricted to the private sector. Although this cannot be generalized, they offer support for reflections on the subject. Practical implications This paper shows how companies with advanced HRM handle with older workers in their policies and practices. Social implications This work points out that that the aging of workers will be a problem to be discussed by the companies HRM in the future. Originality/value This paper identifies the need to study how companies will deal with the increasing number of older workers.

scholarly journals Age segregation and hiring of older employees: low mobility revisited

2014 ◽  
Vol 35 (8) ◽  
pp. 1090-1115 ◽  
Author(s):  
Pekka Ilmakunnas ◽  
Seija Ilmakunnas
Keyword(s):  
Older Workers ◽  
Age Groups ◽  
Cohort Effect ◽  
Employment Change ◽  
Firm Level ◽  
Content Type ◽  
Older Employees ◽  
Age Segregation ◽  
The Individual ◽  
Employee Data

Purpose – The purpose of this paper is to analyse the determinants of hiring and exit rates by age at the firm level and firm-level age segregation in hirings and separations in Finland. Design/methodology/approach – The use Finnish linked employer-employee data from 1990 to 2004. The authors present a decomposition of employment change by age group to disentangle the roles of hirings and exits from factors related to demographics effects. Firm-level analysis is conducted using regression models for the hiring rates and shares of different age groups and for the probability of hiring older employees. Similar models are estimated for the exits of older employees. Segregation is analysed using age segregation curves and Gini indices calculated from them. Findings – The hirings of older (50+) employees have clearly been more segregated at the firm level than the exits or the stock of old employees. Larger firms are more likely to hire older employees, but their hiring rates are lower. However, the probability of having hires or exits of older workers are much higher in large firms. The results are relatively similar for men and women. Research limitations/implications – The determinants of the probability of hiring older workers and the rate of hiring them, given that the rate is positive, are different and these two processes should be modelled separately. The Gini index of segregation may be misleading when the number of employees per firm is small. Therefore it is useful to compare segregation to a random reshuffle of employees to firms. Practical implications – Older worker who have become unemployed or who want to change their job need to have more employment opportunities. Labour and pension policies need to be monitored and designed so that there are more incentives for the individual to search for a new job and for the firms to hire older employees. Originality/value – The authors provide new empirical evidence of age segregation and hiring prospects of older employees. Age segregation has previously been examined in occupations, but the authors extend the analysis to firm-level segregation. The authors suggest a new decomposition of the rate of employment change to the hiring and exit rates and to a cohort effect.

Resource Passageways and Caravans: A Multi-level, Multi-disciplinary Review of the Antecedents of Resources over the Lifespan

2021 ◽  
Author(s):  
Lee Sarandopoulos ◽  
Prashant Bordia
Keyword(s):  
Older Workers ◽  
Working Life ◽  
Well Being ◽  
Institutional Factors ◽  
Future Research ◽  
Limited Attention ◽  
Older Worker ◽  
Multi Level ◽  
The Rich ◽  
The Individual

Abstract Resources are vital for older worker effectiveness and well-being, yet limited attention has been paid to the antecedents of resources. Drawing together the rich cross-disciplinary literature on resources, and through the lens of cumulative disadvantage and resource passageways, we review the individual, organizational, and institutional factors that influence the resources available to people in late working life. The review provides a more nuanced perspective on older workers as agentic actors. We highlight how agency can be constrained via a person’s resources, which are shaped by structural influences. Knowledge of structural influences on resources is important for understanding the experiences of older workers and their continued effectiveness in the work domain. We outline avenues for future research on resources and aging at work that incorporates these multi-level influences.

scholarly journals Additional Leave as the Determinant of Retirement Timing—Retaining Older Workers in Norway

2015 ◽  
Vol 4 (4) ◽  
pp. 89 ◽  
Author(s):  
Åsmund Hermansen
Keyword(s):  
Relative Risk ◽  
Older Workers ◽  
Early Retirement ◽  
Retirement Pension ◽  
Retirement Decisions ◽  
Retirement Timing ◽  
Retirement Behavior ◽  
Before And After ◽  
Retention Measure ◽  
The Individual

Faced with a rapidly aging labor force, increasing the labor supply of older workers has become an important goal for European countries. Offering additional leave to older workers with the option of withdrawing a contractual pension (contractual early retirement pension AFP) has become a widespread retention measure in Norwegian companies. Thus far, no studies documenting the effects of individual retention measures on early retirement behavior have been published. The aim of this article is to examine whether offering additional leave impacts the relative risk of withdrawal of a contractual pension. The analysis uses a difference-in-differences approach and examines whether offering additional leave to counteract early retirement impacts the retirement decisions of 61- and 62-year-olds within the next two years of their employment, controlling for a range of different individual and company characteristics. This is achieved by comparing changes and differences in the individual relative risk of retiring early on the contractual pension (AFP scheme) in the period 2001–2010 among older workers in companies with and without the retention measure. The analysis shows an overall average increase in the relative risk of a 61- or 62-year-old worker retiring on the contractual pension between 2001 and 2010; however, among older workers employed in companies offering additional leave there has been a decrease in the relative risk. The effect of additional leave is evident both before and after controlling for the selected individual and company characteristics. Thus, the analysis shows that offering additional leave as a retention measure reduces the individual relative risk of withdrawing a contractual pension (AFP) in the next two years of employment among older workers between the age of 61 and 62 years.

The United Kingdom – a new moral imperative: live longer, work longer

2017 ◽  
Author(s):  
Sarah Vickerstaff ◽  
Wendy Loretto
Keyword(s):  
Government Policy ◽  
Older Workers ◽  
Individual Responsibility ◽  
The United Kingdom ◽  
Job Opportunities ◽  
Family Demands ◽  
The Individual ◽  
Pension Age ◽  
The Uk ◽  
State Pension

The drift of government policy affecting older workers in the UK has been focused on encouraging individual responsibility for working longer and saving more, often with an idealised 'adult worker' in mind; an individual devoid of family context and family demands and accumulated advantages or disadvantages. As a result the policies have a differential impact on women and men and diverse incomes groups and are likely to lead to greater inequality between older workers. The focus on the individual (the supply side in the labour market) also takes emphasis away from the problem of demand: whether employers want to retain or recruit older workers. There is an increasingly strong moral assertion that to live longer should mean to work longer, but research demonstrates that those most likely to be unemployed before state pension age are out of work because of lack of job opportunities, poor health or caring responsibilities.

scholarly journals From psychological to digital disengagement: exploring the link between ageism and the ‘grey digital divide’

2016 ◽  
Vol 18 (1) ◽  
pp. 65 ◽  
Author(s):  
Martine Lagacé ◽  
Houssein Charmarkeh ◽  
Radamis Zaky ◽  
Najat Firzly
Keyword(s):  
Digital Divide ◽  
Great Proportion ◽  
Technological Innovation ◽  
Digital Literacy ◽  
Older Workers ◽  
Driving Force ◽  
Organizational Level ◽  
Chronological Age ◽  
Individual Level ◽  
The Individual

<p>The need for digital literacy is apparent in today’s workplace, driven by strong pressures for constant technological innovation. Previous studies have shown that although older workers make up (and will make up) a great proportion of the workforce, there persists an age-based digital divide in the workplace; and the outcome of such divide is quite negative: at the individual level, older workers feel they’re being marginalized and as such, become dissatisfied and disengage from their workplace; at the organizational level, a pool of skills and expertise is lost as a result of the older worker’s disengagement, putting at risk effective knowledge transfer and mentoring process. Hence, the importance of a deeper understanding of the contextual factors that may feed the <strong>‘</strong>grey digital divide<strong>’ </strong>in the workplace. The goal of this paper is to address such factors moving beyond the ageist claim that a worker’s chronological age is the driving force behind the <strong>‘</strong>grey digital divide<strong>’</strong>.</p>

Entering the Retirement Zone: How Much Choice do Individuals Have?

2006 ◽  
Vol 5 (4) ◽  
pp. 507-517 ◽  
Author(s):  
Sarah Vickerstaff
Keyword(s):  
Individual Difference ◽  
Older Workers ◽  
Age Discrimination ◽  
Demand Side ◽  
Health Issues ◽  
Factors Affecting ◽  
Individual Difference Variables ◽  
The Individual ◽  
The Impact ◽  
Policies And Practices

Traditionally the factors affecting retirement are correlated with individual difference variables such as level of income, health issues and caring responsibilities. Studies have shown how these factors interact to predict the individual retirement process. However, the demand-side factors which structure opportunities for older workers have been somewhat less studied. This paper explores the employer role in retirement. By investigating the experience of employees and retirees from three organisations this article demonstrates that the employing organisation's policies and practices are key to understanding retirement transitions. In the conclusion the impact of forthcoming age discrimination legislation is considered.

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