BC-Center for Productive Longevity Working to Defuse the Ticking Tim

(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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