AARP International

How and Why Modern Employers Should Embrace Longevity

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  • About LLEL

    Join AARP, the World Economic Forum, OECD and  50 employers in a learning collaborative to identify and share multigenerational, inclusive workforce practices.

    Trends and Opportunities
    As people live longer, healthier lives, many will want or need to work longer. Longevity thus presents an opportunity and responsibility for governments, employers, and people of all ages to reimagine what it means to earn and learn over a lifetime. This initiative seeks to engage 50 employers in a learning collaborative to identify and share multigenerational, inclusive workforce practices.


    Action to be Taken
    Although governments can and should support the development of multigenerational, inclusive workforces, employers are best positioned to lead the charge.

    Success will benefit the economy, businesses and employee growth and satisfaction. To do so, it is essential that employers:
    Ensure individuals remain employable throughout their lives with continued education and training,
    Enforce policies that prevent age discrimination, and adopt age-inclusive policies, and
    Provide opportunities for workers to remain and grow on the job.

    Project Objectives
    The World Economic Forum, AARP, and partner organizations agree to share existing resources and, where knowledge gaps exist, collaborate on new research to help employers build, support and sustain multigenerational workforces.

     


    Three dimensions have been identified by which to examine inclusive employment:

    Create: How does corporate culture and climate affect the quality of employment for all generations? Be it through access to meaningful work, a culture of respect, inclusion, and equity, or employment security and predictability.

    Invest: What are the standards, policies, and practices to support a well-functioning multigenerational workforce? Important areas include recruitment, assessment and retention
    practices, compensation and benefits, lifelong learning, health and wellness benefits, caregiving services, physicality of the workspace and options for phased retirement.

    Prosper
    :
    How can employers and employees translate a more age-friendly environment into business and personal growth? Employers who can retain market-valued intellectual capital, raise stability and engagement of highly skilled employees and deliver products and services designed by a representative workforce stand to benefit. Employees with access to resources revitalizing skills can lead to greater personal financial security and self-fulfillment.

     

    Timeline

    This initiative will be conducted in three phases:
    I.) Launch and Partnerships;
    II.) Study and Consensus; and
    III.) Release and Promote. In addition to conducting extensive desk research, a series of regional workshops between summer 2019 and fall 2019 will convene a diverse set of international thought leaders to engage in dialogue, share existing resources, highlight meaningful case studies, and consider business rationales and incentives for employers to support a multi-generational, inclusive workforce.

    This work will culminate in a digital learning platform, to be launched at the 2021 World Economic Forum Annual Meeting in Davos, Switzerland. This interactive will serve as a guide for employers on the policies, practices, and business cases for supporting an age-diverse workforce.

    Calendar of Events
    July 30, 2019 (North America – New York City)
    Regional Executive Workforce Roundtable

    September 17, 2019 (Asia – Singapore)
    Regional Executive Workforce Roundtable

    October 4, 2019 (Europe – Paris)
    Regional Executive Workforce Roundtable

    Read Insights from the three roundtables

    Partnering Organizations
    Aegon
    AIG
    Allianz
    Amgen
    AmeriTrade
    Aviva
    Bank of America
    BlackRock
    Burning Glass Technologies
    Generali
    Guardian Life
    HSBC
    Home Instead
    Invesco
    Investec
    Manulife
    Mercer
    Natixis
    Old Mutual
    PZU
    Randstad
    SmartBridge Health
    Standard & Poor’s Global
    The Hartford 
    Uneva Health
    UnitedHealth

    Knowledge Partners
    Aging Studies Institute (Maxwell School of Citizenship and Public Affairs at Syracuse University)
    Canadian Association of Retired Persons (CARP)
    Center for the Future of Aging, Milken Institute
    Centre for Ageing Better (UK) 
    Global Financial Literacy Excellence Center (George Washington University School of Business)
    Mailman School of Public Health (Columbia University)
    Sau Po Centre on Ageing (The University of Hong Kong)
    Stanford Center on Longevity (Stanford University)
    Wise at Work (Hong Kong) 

  • Webinar Series

    Webinar Series: Building Multigenerational Teams Across the Workplace
    In this webinar, Martha Deevy, Associate Director and Senior Research Scholar from the Stanford Center on Longevity and Haig Nalbantian, Senior Partner, Workforce Sciences Institute at Mercer will share research data and discuss the importance of “Building Multigenerational Teams Across the Workplace

    Webinar Series: Creating an Age-Inclusive Workplace Culture
    In this webinar, you will hear from Future-of-Work Strategist Heather McGowan and Jisella Dolan, from Home Instead Senior Care, who are thinking deeply about the benefits of implementing an age-inclusive workplace culture

    Webinar Series: Why a Multigenerational Workforce is Becoming a Business Priority
    In the first webinar of the Living, Learning and Earning Longer Collaborative series, OECD Labor Economist Shruti Singh and Bank of America executive Aubrey Long discuss the research on changing global demographic trends and why a multigenerational workforce is good for business.

  • Newsletter

    Read Today's Newsletter:
    Living, Learning, Earning Longer Collaborative Newsletter – January 16, 2020

    Today's Newsletter
    1. Executive Update
    2. Upcoming Events
    3. Data Point of the Day
    4. AARP Insights
    5. Featured Promising Practice
    6. Multigenerational Workforce News
    7. Relevant Resources & Reports
    8. Stepping into the Future
    9. Join Us!
    10. Demonstrate Your Commitment to Experienced Workers 
    11. Archives 
    Dear Executives - 

    As we begin the new year, we are already looking ahead to some exciting engagements planned for the Learning Collaborative in 2020. First, AARP will be headed to the World Economic Forum’s (WEF) annual meeting in Davos, Switzerland later this month. There, our CEO, Jo Ann Jenkins, will host an invitation-only salon dinner for 20-25 senior executives to discuss the long-term competitive advantage of age diversity and inclusion and its implications for their firm’s bottom line.
     
    On February 12, 2020, AARP, with the United Nations Department of Economic and Social Affairs (UNDESA) Programme on Ageing, will host the 13th annual AARP UN Briefing Series during the 58th session of the Commission for Social Development. This UN Briefing Series, entitled “Living, Learning and Earning Longer: the business case for an age-diverse workforce,” will feature a moderated discussion on the public sector’s role in creating a policy environment that creates and invests in an age diverse and inclusive workforce ecosystem for all.
     
    Continue to watch out for additional events throughout the year where we will be sharing the findings and trumpeting the message of the Learning Collaborative—that is, the advantages a multigenerational workforce has to offer this new industrial age. We are pleased to share that we have already heard from members of the Collaborative that the insights and promising practices surfaced in our various in-person and virtual convenings have resonated, sparking action and change at their company. Together, we are building a future of work for all generations.
     
    Finally, in addition to our upcoming 2020 events, I want to highlight one last notable event and accomplishment in 2019.  In December, AARP and WEF presented a session at The Atlantic’s 2019 The Future of Work Conference in New York. Andre Belelieu, head of insurance and asset management at the World Economic Forum, joined me to discuss the Learning Collaborative and fostering a multi-generational workforce. Watch an overview of that conversation.

    Best,

    Jean Accius
    Senior Vice President of Global Thought Leadership
    AARP
    LinkedIn | @JeanAccius | Jean Accius’ Bio
    • January 29, 2020 at 11:00 AM (EST): Join us for the third webinar of the Learning Collaborative. During the webinar, top executives will share perspectives about how to leverage the benefits of multigenerational teams. Learn more and register!
    • February 12, 2020 from 1:00 – 3:00 PM (EST): You are invited to attend AARP’s UN Briefing Series “Living, Learning and Earning Longer: A Business Case for An Age-Diverse Workforce” at the UN Headquarters in New York. Register online. Please note this event is by invitation only and requires an event code: 2020briefing.
    • February 19, 2020 at 11:00 AM (EST): Peer Learning Conference Call: An exclusive opportunity for members of the Learning Collaborative. Registration opening soon!
    Source: Oscar Anderson. Mentorship and the value of a multigenerational workforce. AARP Research, January 2019.
    Creating an Age-Inclusive Workplace Culture – It’s about more than Age. It’s about Life Stage.
    By Ramsey Alwin, Director, Thought Leadership - Financial Resilience, AARP
    @ElderNomics
    An age-inclusive corporate culture supports meaningful work and an environment of respect, inclusion, and equity for all generations. When companies intentionally bring age to the other foundational characteristics of a culture, they enable employees to fully engage, contribute their diverse perspectives, and ultimately drive better business performance.Here are two key takeaways from our research and conversations with members of the Learning Collaborative:
     
    Companies can foster an environment of inclusion for employees, leading to better team performance.

    Globally, employees who work with inclusive managers report a 70% increase in experiences of belonging, fairness, respect, value, psychological safety, and inspiration. Increased feelings of inclusion lead to an increase in perceived team performance of 17%, decision-making quality of 20%, and team collaboration of 29%.
     
    An inclusive culture supports a stable organization.
     
    An age-diverse workforce can help maintain the long-term continuity of an organization by facilitating intergenerational knowledge transfer. In addition, a European study found that older employees’ reliability, stability, and consistency is higher than that of their younger counterparts.
     
    When considering the age-diversity of an organization’s workforce, the chronological age of its employees often comes to mind first. However, being age-diverse requires a more complex understanding of age as seen through multiple lenses. The Sloan Center on Aging & Work at Boston College used a new framework, titled “The PRISM of Aging,” that details many of the key dimensions to consider when using a life course lens. This simple framework illustrates the many considerations an employer should use when assessing current practices and policies, including:
    • Chronological age: Number of years lived since birth.
    • Life-events: Age relative to transitional events, such as getting married, having children, and retiring.
    • Career stage: A person’s stage in the context of their career or line of work.
    • Generation: Birth cohort, including the worldviews and values attributable to macro-level factors, such as economic circumstances and historical events.
    • Accessibility: Physiological changes that affect the ability to work.
    • Organizational tenure: The length of time spent with an organization.
    Mercer’s “10 Ways to Optimize Your Workforce”
     
    Research from Mercer shows that the current world population is aging to an extent never before witnessed by society. This will mean that many individuals will stay in the workforce longer, both due to choice and necessity, particularly in light of increasing retirement savings gaps. Meanwhile, from the business perspective, research is increasingly revealing benefits to a business supporting their workers to live healthier lives and stay in the workforce longer. Those benefits include greater business success, reduced health care and pension costs, stronger productivity, and other plusses. In short, companies that better utilize an aging and experienced workforce will have a competitive advantage.
     
    To this end, Mercer has developed a group of assessment tools that employers can utilize to take advantage of the benefits of your workforce. Their Next Stage platform explores how employers can improve approaches to longevity and optimize workforce performance by better capturing the value of age and experience. Additionally, their recent report, Are You Age-Ready?, lists “10 ways to optimize your experienced workforce” which includes:
    1. Collect and analyze your age-profile data to explore demographic and skills pinch points.
    2. Develop and implement people and career strategies that embrace the experienced workforce.
    3. Understand what impact your retirement plan design has on the trajectory of retirement readiness and labor flow.
    4. Initiate conversations with employees about how they might work differently.
    5. Examine and tackle how ageism might manifest in your organization — analyzing pay, bonuses, performance, promotion and recruitment statistics through a lens focused on aging.
    6. Develop a lifelong learning attitude that positions people to embrace jobs of the future.
    7. Measure productivity levels across different age and position cohorts in your organization.
    8. Implement an effective flexible-working strategy.
    9. Develop and implement a program offering support for those who have caregiver responsibilities.
    10. Create and sustain an inclusive culture that supports and enables your experienced-worker strategy.
    • Mentorship and the Value of a Multigenerational Workforce, AARP. Overall, workers value the unique perspectives that a multigenerational workforce bring to their jobs, according to an AARP survey on multigenerational work and mentorship. Seven in ten workers say they like working with generations other than their own, and the majority agree that both younger and older workers bring a set of positive benefits that enhance the workplace environment. In particular, workers value the give-and-take aspect in a multigenerational work environment.
    • The Surprising Ways Management Styles Vary By Age, ForbesConversations about generational differences in the workplace remain challenging and too often infused with stereotypes. Older generations sometimes lament what is lost, while those junior to them can feel frustrated by the slow pace of change. A recent MIT Sloan Management Review study of managers,  which analyzed how managers across the age spectrum prefer to lead, proved to be an eye-opener.
    • The Twin Trends of Aging and Automation, Marsh and McLennan Advantage. Proposing a new perspective, this report suggests solutions to the dilemma companies are facing concerning an aging workforce and automation. The report applies a corporate lens to the intersection of the two trends, arguing that companies must seek to integrate the experienced workforce into their broader strategy to reach greater success.
    The Living, Learning and Earning Longer Collaborative will work with global companies to refine the business case for age diversity and highlight best practices from around the world. With WEF and OECD, AARP will consider the complexity of the multigenerational workforce when evaluating an organization’s recruitment and retention practices, flexible work and caregiving benefits, lifelong learning and training, and assessment procedures. Our findings will surface standards, policies, and practices that reflect an age-diverse and inclusive workforce ecosystem. Finally, at the 2021 World Economic Forum Annual Meeting in Davos, Switzerland we will release our conclusions in a digital learning platform.
    Join the over 30 companies and knowledge partners that have already signed on to the Living, Learning and Earning Longer Collaborative. We will help you assess your readiness as a company and prepare to maximize the longevity opportunity. For more information, contact Jeff Gullo at jgullo@aarp.org

    The AARP Employer Pledge Program is a nationwide group of employers that stand with AARP in affirming the value of experienced workers and are committed to developing diverse organizations.
    Employers who sign the Pledge agree that they:
    • Recognize the value of experienced workers
    • Have immediate hiring needs
    Demonstrate your organization’s commitment by signing the AARP Employer Pledge:
     
    “We believe in equal opportunity for all workers, regardless of age, and that 50+ workers should have a level playing field in their ability to compete for and obtain jobs. Recognizing the value of experienced workers, we pledge to recruit across diverse age groups and to consider all applicants on an equal basis as we hire for positions within our organization.”
    Sign the Pledge!
    We encourage you to share this newsletter widely with your colleagues and other stakeholders.

    Read Past Newsletters

    October 16, 2019
    November 12, 2019

    December 16, 2019
    September 16, 2019

  • Research


Contact for more information

Jeffrey Gullo, AARP

jgullo@aarp.org 

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