The Multigenerational Workforce: Lessons

The Multi-Generational Workforce:
Lessons Learned from Sloan Center Research
Jacquelyn James, Ph.D.
Boston College Center on Aging & Work
September 20, 2013
With Marcie Pitt-Catsouphes and Christina Matz-Costa
Lesson 1: Projected Changes in the U.S.
Labor Force
2010-2020 by Age Groups
Toossi, M. (2012, January). Labor force projections to 2020: a more slowly growing workforce. Monthly Labor Review, 135 (1), 43-64.
Living longer
Working longer, differently
Re-conceptualizing age/career
Evolving notions of “retirement”
Struggling to keep up (employers)
Lesson 2: Age is Multifaceted
Life stage
Career stage
Exercise: Mapping Your Age
Mapping Your Age: Your Perception
Age, Flexibility Fit, and Employee
Lesson # 3
Workers at all ages, stages, and
career stages may have different
work styles, but they share a
desire for better work-life fit. This
is most important to older or latecareer workers.
Lesson 4: Flexibility is not Enough
Just over three in five (62%) of workers aged 50+ described the availability
of flex time as "very important" or "somewhat important.”
The most important aspect of job satisfaction for Baby Boomers is the
opportunity to use skills and abilities, with 63% ranking this as very
Job Security (61%),
Compensation/pay (60%),
Communication between employees and senior management (59%)
Organizational financial stability (56%).
Lesson # 5: Job Quality is Multi-faceted
Lesson 6: Business Drivers for Innovative
 Health concerns
 Recruitment, retention, job
satisfaction, engagement
 Changes in workforce
 Changes in consumer
Lesson 7: Organizations Respond in
Different Ways
Case studies:
Cornell, Dell,
Marriott, MITRE, and Wells
Age: A 21st Century
Innovative Practice Families
 Benefits
 Dependent care
 Diversity initiatives
 Health and wellness
 Leadership development
 Recruitment
 Retiring and retirement
 Training
 Workplace flexibility
Innovative Practices
Central Baptist Hospital
Career Coaching
Career flexibility addressed by a leadership succession and competency program to identify
and retain organizational talent
Hourly Flexibility
Innovative options for scheduling, career and work design flexibility
Phased Retirement
Part-Time On-Call
Flexible options to transition into retirement
CVS Caremark
Snowbird Program
Program that enables older workers to transfer to different CVS/pharmacy store regions on
a seasonal basis
Cornell University
Encore Cornell
Program for retirees enabling project work, consulting, volunteerism and website resources
Lessons 8: Implementation Challenges
 Lack of Data on Individual Organization’s Demographics
 Lack of Training of Managers
 Lack of Funds for New Employee Benefits
 Lack of Research Examining Return On Investment
Lesson #9: The Importance of Mentors
“Cultivate relationships with those who can teach
– Baltasar Gracian, The Art of Worldly Wisdom
 Reverse Mentor Study with The Hartford
January 2013
Lesson #10: Set Aside Time for Innovation
and Brainstorming
2013 Charette: Innovative Practices for MultiGenerational Workforces
The Sloan Center on Aging & Work at Boston College’s 2013
Charette is a fast-paced, structured process that includes a
series of tasks and team interactions resulting in an innovative
practice prototype designed to challenge your company’s multigenerational workforce.
Jacquelyn James, Ph.D.
Director of Research
Sloan Center on Aging & Work at Boston College
[email protected]