FocalPoint Partnerships

Older Workers Are An Asset

Older workers are a valuable part of any organization and as many companies struggle to find experienced, qualified workers, older indivduals are available and willing to fill those gaps. Manpower Group, a job placement firm, found that nearly 70% of employers surveyed reported talent shortages in 2019, up 17% compared to the previous year. One reason cited for the talent shortage is lack of experience. Older workers are often overlooked in the job market, because many employers feel that they are less productive and less able to grasp on to new technologies and ideas. Older workers have many years of experience and often need

minimal skills training in order to do the job. Many companies are looking to replace older workers with a younger team but having a younger workforce doesn’t necessarily create a smarter workforce. Having different age groups working together will help boost productivity and inspire new ideas. A study from Stanford’s leading aging expert Laura Carstensen shows that having a “mixed age teams were the most productive because they benefited from the knowledge and experience of older workers as well as the skill and speed of the younger workers.” Businesses can benefit from the knowledge and experience of older workers because they can help guide younger workers to become strong professionals. Older workers can educate the younger generation on the importance of softs skills and how to handle conflicts and solve problems efficiently. MaturityWorks matches older workers with part-time jobs with local nonprofit, government and faith-based agencies. Trainees earn income while building their self confidence and learning skills valued by local employers.Sources: ThomasNet. Forbes

Effects of Age Discrimination Age discrimination in both the workplace and the hiring process is a concerning issues for older workers. A study by Yale School of Public Health found that age discrimination has a serious effect on the health and wellbeing of a person over 50. For the unemployed, feeling excluded and discriminated against lowers self-esteem, making them feel less motivated to continue their job search. Older women face more discrimination in the workforce than men do, and often have a harder time finding employment after they turn 55. Many women take time off from their career to raise their families and have difficulty getting back to work due to gaps in their resume. Women often shy away from the job market because they feel ashamed of the gap or they feel too old to be looking for a job. Women generally have less retirement saving then men and for many, going back to work is necessary for income to support them and for social interaction. Women over 55 are still ambition and seek fulfilling work where they can use their skills and learn. They can also serve as a role model for younger women who are just starting out in their career. Age discrimination also influences the economy. A report by AARP found that in 2018, the U.S missed out on $850 billion in GDP because “those age 50-plus who wished to remain in or re-enter the labor force, switch jobs or be promoted within their existing company were not given that opportunity.” By 2050, loses could rise to $3.9 trillion if bias against age continues the way it has been. In today’s ever changing economy, it is important to provide opportunities for the older generations, and to not discount their talents due to age. Source: AARP , The Cut, Forbes , American Society For Aging

Connecticut IssueMarch 2020Volume 4, Issue 2

www.workplace.org/maturityworks 350 Fairfield Avenue, Bridgeport, CT 06604 (203) 610-8520

Reframing Retirement MetLife released their 2020 Evolving Retirement Model Study which shows how much retirement has changed over the past decade. Older workers are anticipated to be the fastest growing age group in the work force in the upcoming years, and instead of preparing for retirement, many individuals are continuing to work or seek employment. According to the study, the most common reason older workers are delaying retirement is they simply can’t afford to retire yet and need an income for bills and expenses. They also want to continue saving for retirement and to maximize their pension benefits The line between retirement and work has become blurred over the past decade, there is no longer a “hard stop” to working as there once was. MetLife found that over half of employers (54%) and 43% of workers surveyed “think the commonly used definition of retirement – the process of ceasing to work for pay- should be expanded to account for changes in the work model for older workers”. Phased retirement is one suggestion which allows workers to continue working with a reduced workload. According to MetLife, 74% of workers would like to transition gradually into retirement and 51% of retirees would have preferred to transition gradually into retirement. Creating a seamless transition can help many older workers feel more prepared for retirement. Source: MetLife

Success StoryKiril immigrated to the United States with his family when he was a teenager. After finishing high school, he joined the US military and served in Vietnam. F o l l o w i n g h i s m i l i t a r y discharge, he and his father operated a painting business together. When Kiril’s father passed away, he was no longer able to operate the painting b u s i n e s s a n d r e m a i n e d

unemployed. Despite having a high school degree, Kiril’s English language comprehension is limited. Since the end of the painting business, Kiril, who lives with his wife and mother-in-law, has been struggling to make ends meet, frequently being behind in rent and utility payments. Kiril entered SCSEP and worked to increase his employment prospects by working with ESL tutors to help his language skills and accessing WIOA training. His community service assignment with the Chemical Abuse Service Agency (CASA) introduced new skill development including computer use and customer service. His hard work paid off in 2019 when CASA offered Kiril employment as a House Manager in Bridgeport, CT.

Host Agency Spotlight New Opportunities’ mission is to improve the quality of life for economically disadvantaged individuals by providing the necessary resources to increase their standard of living, foster self-improvement, and maximize self-empowerment. New Opportunities Inc. is the community action agency headquartered in Waterbury and has offices throughout Connecticut. Each year, more than 61,000 individuals benefit from its programs including, but not limited to, energy assistance, Meals on Wheels, elderly services, employment education and training, homeless shelter and transitional housing, ex-offender and re-entry services. A MaturityWorks partner for many years, New Opportunities (NO) has provided dozens of training opportunities in office support, food preparation and service, custodial assisting and food pantry services allowing trainees to grow their skills in a variety of vocational areas. Training supervisors and counseling staff go above and beyond program requirements by assisting trainees in job search activity, including trainees in the agency’s financial literacy and other education programs, connecting them with housing services and energy assistance. Whatever assistance is needed, the New Opportunities staff work with trainees to help them resolve daily issues and connect them with needed services.

MaturityWorks took immediate steps to protect our vulnerable participants by updating our sick leave policy to respond to the impacts of the current health crisis. This update enables participants to continue to receive wages if their host agency closes operations. During this time they will continue to work with the career coaches on training and individual employment plans.