Posted on July 1, 2009 by kjenwws
A perfect storm continues to gather. It’s just not the one everyone saw building on the horizon in 2005. Only a few years ago we feared the knowledge gap created by the departure of 78 million boomers from the workplace, the bankruptcy of social security and Medicare and a skilled talent shortage that would cramp economic growth. I don’t believe the storm has lessened by any means but I think the nature of the storm has changed.
Since October 1, social security claims are up 25%. While boomers intended to stay in the workplace, the challenges of fulfilling that vision can be demoralizing. In the face of age bias, exhausted unemployment funds, evaporating home equity, elimination of seniority protections and flagging stock market accounts, many who are eligible for early benefits are giving up and claiming social security. Don’t confuse claiming social security as retiring. These workers can keep working and would if that seemed practical.
Withdrawing social security at 62, the earliest eligibility date, significantly decreases the payout. Although good news long-term for the solvency of the social security program, in the short-run, more claimants represent budget issues at a time when dollars are at a premium. Additionally, the ramifications of diminished payouts over a long period of time are yet to be clearly understood. Certainly women who outlive their spouses can be seriously affected as survivor benefits decrease the original social security payment even further. Statistically, we also know that those who begin to draw from their social security accounts are unlikely to return to the workplace full-time.
I know that employers are trying to creatively cut expenses and keep workers on the job and I urge them to aggressively innovate in this area. I urge individuals not to give up. I understand the frustration with today’s workplace but the work world needs our experience, our relationship orientation, our problem-solving practicality and even our jaded Dilbert-like questioning of the status quo.
Filed under: Workforce Transitions Issues and Solutions | Tagged: Medicare, retirement, social security, talent shortage | Leave a Comment »
Posted on June 29, 2009 by kjenwws
There are today 44 million caregivers in the US today providing the equivalent of $350 billion worth of care every year. 15% of them have now lost their jobs and due to the escalating cost of care, 20% have moved in with family members to save on expenses.
I urge our readers to offer resources and suggestions of how caregivers can stretch their dollars and encourage employers to consider this segment of the workforce for your openings.
Filed under: Workforce Transitions Issues and Solutions | Tagged: caregiving | Leave a Comment »
Posted on June 24, 2009 by kjenwws
Recent months have shaken the pillars of trust in the US. While we cling to our religious faith, we wonder how businesses, financial professionals and political leaders will ever gain back our confidence and, more importantly, our trust. We appear to be turning to each other for solutions and support rather than employers who continue to push more of us into the street, or Wall Street who can’t or won’t tell us where all the money went or leaders who fight on a partisan level to save their respective parties rather than the nation.
I’m thrilled at the grassroots movements of Americans to adapt our lives and reach out to help others. You all make me so proud. But how are we ever going to feel secure with employers and leaders again? They may not care if we’re secure but their bottom lines will seriously suffer if people can’t put their all into their work or their workplace. Consider a workplace where workers’ have reserved their commitment and engagement for themselves and no one else. What’s the opposite of good to great?
Filed under: Resilience | Tagged: confidence, Wall Street | Leave a Comment »
Posted on June 22, 2009 by kjenwws
Cheers to Dos Equis for their grasp on diversity! Their recent advertising campaign features an unusual spokesperson for a beer company – the most interesting man in the world. He’s not 20-something but distinguished and gray, a dashing James Bond-type.
Jeers to the profiteers who have rejected working with Pixar to create merchandise based on their new movie UP! It seems they’re convinced that the public wouldn’t be interested in a main character based on a senior citizen. You do know there are millions of us out here. Right??
Filed under: Perspectives and Trends | Tagged: diversity, Dos Equis, UP | Leave a Comment »
Posted on June 18, 2009 by kjenwws
For decades, those with mortgages looked down their noses at those of us who rented. Along with the snooty stares grew the perception that renters were less dependable, poorer, ready to move at a moment’s notice, even shiftless. Perhaps one of the pluses rising from the ashes of the mortgage meltdown is the realization that, at least, many of us were being fiscally responsible.
Nearly 37 million families rent instead of own property. While affordability may drive part of their decision, for many its about lifestyle choices. Renters avoid the hidden costs of having a mortgage; they have proximity to urban amenities; they want to maintain a simpler, less cluttered life; or they want to connect to a diverse group of people.
Long before the financial crisis though, renters provide communities with value just as homeowners do. Without rental properties, businesses can have difficulties attracting workers, particularly at the various income levels required for the occupations that sustain any community. Since prospective employees put the length of a commute in their top 6 decision factors in accepting a job, renting can offer critical talent the opportunity to live near their workplace. Additionally, opportunities to rent reduce urban sprawl and revitalize communities, even making them “green”. Researchers are now dispelling our misconceptions about renters recently finding that mobile economies are actually thriving economies. And as for the mortgage-holding holdouts, the Center for Housing Policy found that affordable rental units cause neighboring property values to remain stable or increase.
Need some support with the mortgage? Take a renter to lunch.
Filed under: Financial | Leave a Comment »
