(http://www.ctrpl.org)
The Center for Productive Longevity (CPL), which serves as the bridge
between people 55 and older and the opportunities that enable them to
continue in productive activities, today described "The 3 Important
Ways to Defuse the Ticking Time Bomb of our Aging
Workforce(http://ctt.marketwire.com/?release=885937&id=1595818&type=1&url=http%3a%2f%2fwww.ctrpl.org%2fabout-cpl%2fbuilding-blocks-of-the-center-for-productive-longevity%2f3)."
With 77 million people in the United States 55 and older, we are at a
tipping point: we can either watch them sit on the sidelines, drawing
from unsustainable entitlement programs and the general economy, or we
can enable this growing population segment to continue working and
contribute to the country's economic growth and prosperity.
Recent surveys by AARP indicate that 80 percent of the Baby Boomers
intend to continue working after leaving their regular career jobs,
more than half on less than a full-time basis. Many need or want the
additional income, particularly because of their wealth reduction from
the recession in 2001 and the global economic crisis that began in the
U.S. in late 2007. Other reasons to continue working include the
desire to maintain cognitive skills, continue adding value, and remain
socially connected.
"We have been aware of this ticking time bomb for years without taking
effective action. Now it's really getting louder with the growing
retirement of Baby Boomers at the rate of 4.2 million each year from
2011 through 2029, compounded by high unemployment and low economic
growth for the foreseeable future," says William Zinke, 85, founder
and president of CPL. "We can defuse this time bomb by creating a wave
of entrepreneurship across the country and stimulating employers to
take a more flexible approach in providing employment opportunities
for older workers."
According to CPL, we can defuse the ticking time bomb of our aging
workforce in three important ways:
1. Baby Boomer
Entrepreneurship(http://ctt.marketwire.com/?release=885937&id=1595821&type=1&url=http%3a%2f%2fwww.ctrpl.org%2f)Create
awareness and understanding among the Baby Boomers about the benefits
and opportunities of creating their own businesses. Entrepreneurship
remains a critical factor in the country's economic growth and
vitality, with a spirit of pioneering and self-reliance still a part
of America's DNA.
2. Flexible Workplace OptionsStimulate employers to develop phased
retirement programs and other flexible workplace options that will
retain and attract Baby Boomers 55 and older who want to continue
working but on a part-time basis. A movement is developing in this
direction, but a recent survey by Harris Interactive indicates that
only 24 percent of Fortune 1000 companies provide such options.
3. Greater Talent Pool UtilizationThe reality is that America has a
large and growing talent pool of workers 55 and older with experience,
expertise, seasoned judgment and proven performance (EESP). Research
shows that older workers have a higher level of commitment,
reliability and motivation; have better overall skills and abilities
than younger workers; and have much lower absenteeism and turnover.
This talent pool must be tapped to a substantially greater degree.
"Economic growth and our standard of living may be reduced if older
workers are not provided with opportunities to continue working, yet
there is no real recognition of the need to do so," adds Zinke. "It is
CPL's purpose to change the national mindset about aging and
retirement."
One way CPL is highlighting the benefits of senior
entrepreneurship(http://ctt.marketwire.com/?release=885937&id=1595824&type=1&url=http%3a%2f%2fwww.ctrpl.org%2f)
is by organizing a series of four meetings titled "Spotlight on
Entrepreneurship Opportunities for Baby Boomers." The first meeting
was held at the Kauffman Foundation in Kansas City, MO, the focal
point for entrepreneurship in America, on March 27 with almost 100
participants and excellent feedback. The next three meetings will be
held at Babson College in Wellesley, MA on September 14, Northwestern
University/Kellogg School of Business in Chicago on October 11, and
the University of Denver on November 15. To register, visit
http://www.ctrpl.org/entrepreneurship-meeting/overview(http://ctt.marketwire.com/?release=885937&id=1595827&type=1&url=http%3a%2f%2fwww.ctrpl.org%2fentrepreneurship-meeting%2foverview).
About the Center for Productive LongevityThe mission of CPL is to be
the bridge between people 55 and older and their engagement in
productive activities, paid and volunteer, where they are qualified
and ready to continue adding value. It is imperative that we recognize
the value added by an aging workforce. Visit ctrpl.org for more
information. Follow the Center for Productive Longevity on Facebook at
facebook.com/CTRPL.
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