Special Promotional Feature

At 57 per cent, a majority of Canadians who are 50 years of age or older, and still in the workforce, want to keep working after they reach the traditional age of retirement—but on their own terms.

Specifically, these mature workers want health accommodations, as well as respect from peers, according to findings from a survey jointly conducted by Ceridian Corporation and CARP (a non-partisan, non-profit organization focused on advocating for the aging in Canada). This article delves into details found in the related report, “Second Wind: The Evolving Nature of Retirement.” Mature workers’ institutional knowledge, or intellectual property, can be irreplaceable, and their skills and traits are proven to enrich the organization. HR leaders and the organizations they represent need to be as savvy as possible in recruiting and retaining older talent.

Mature Workers Defining Their Terms
An organization that wishes to retain its older employees, needs to do everything it can to understand their desires and concerns. At the forefront of mature workers’ list is a flexible working environment: Only 10 per cent would like to keep working in a full-time capacity, whereas 47 per cent hope to work on a part-time or seasonal basis, or on contract. Additionally, 46 per cent of respondents to the Ceridian–CARP survey of 5,230 mature workers in Canada want nontraditional work arrangements such as flexible hours and job-sharing, and 43 per cent want phased-in retirement options to accommodate a robust work–life balance.

Why They Expect to Stay
Most mature workers (60 per cent) expect their finances to keep them working past traditional retirement age, according to the report’s research. The remaining 40 percent have other reasons: Some, for example, just want to stay busy (15 per cent). Another 14 percent want to continue contributing to society, and 11 per cent want to remain in the workforce well into old age as a way to remain socially connected, too.

Hoping to Mentor Others
The idea of mentorship is important to mature workers. Aging workers bring valuable traits and skills to their jobs: leadership, mentorship and the imparting of knowledge and best practices to the next generation of employees. Nearly 30 per cent of mature workers support workplace mentorship programs, and nearly one-quarter support intergenerational training. The good news is this: Sixty per cent of mature workers report that colleagues seek their advice.

What Employers Can Do
Mature workers surveyed have a number of suggestions for any employer hoping to improve and strengthen its relationships with the older members of its workforce. It comes down to helping them feel more valued, and topping the list is extending benefits past age 65 (suggested by nearly half of respondents), followed closely by making flex work and job-sharing opportunities available. In large numbers, mature workers also want access to retraining programs, to keep their skills current, and the ability to do a phased-in or staged retirement. The following strategies can help organizations respond to their mature workers’ sound recommendations:

• Adapt and Accommodate to Retain High-performing Mature Workers
  They can constitute the lifeblood of an organization’s official and unofficial leadership structure. Employers must do all they can to retain these captains of the workforce. Just like most others, high-performing mature workers want to work for a purpose. They’re outcome-driven and attracted to roles that provide a robust level of work–life balance. An employer’s job is to identify these high-performers and match what they want.

• Examine & Enhance Workplace Offerings; Develop Recruitment Strategy for Mature Workers
  Again, mature workers have needs that differ from those of other workers. An employer that wants to recruit older workers should offer projects and positions that fit those needs and advertise them where mature workers look. Third Quarter, Jobs over 50, and Retirement Jobs are their favorite places to do so. Employer brand, as well as its expression online, becomes important, too.

• Support Workplace Wellness; Provide Affordable Health & Wellness Services
  Nearly half (48 per cent) of respondents to the Ceridian–CARP survey want their employers to extend health benefits beyond traditional retirement age, and an equal percentage is concerned about maintaining their own health or that of a loved one as they age. Much of an organization’s success rests on mature workers’ health and productivity.

• Implementing a Robust, Progressive EAP
  By neglecting to address mature workers’ concerns and accommodate their needs, employers risk a dip in employee morale. But avoiding all this is possible: A progressive approach to workplace wellness contributes to a healthier aging population and also helps them to feel valued. And a robust Employee Assistance Program (EAP) goes a long way to help with all that. EAPs can alleviate mature workers’ concerns over succumbing to deteriorating health problems and outliving their retirement savings. An effective EAP provides employees and their families with access to resources such as expert advice and tools to keep physically fit, mentally healthy and financially secure. And, by helping aging workers with a constellation of variables that have a direct impact on their health, a proactive EAP can save employers money as they provide their older talent with reasons to keep working, contributing to the organization.