The Center on Aging & Work/Workplace Flexibility at Boston College

A national study of Business Strategy and Workforce Development, conducted by the Boston College Center on Aging and Work, revealed that many U.S. businesses are unprepared for changing workforce demographics. The study results are based on responses from 578 organizations from across the United States. The economic sectors represented include retail trade, manufacturing, healthcare and social assistance.

 

Key Findings:

Only 37% of employers had adopted strategies to encourage late career workers to stay past the traditional retirement age, despite the fact that late career employees "have high levels of skills and strong professional and client networks, a strong work ethic, low turnover and are loyal and reliable."

60% of the employers indicated that recruiting competent job applicants is a significant HR challenge.

40% indicated that management skills are in short supply in their organizations.

Only 33% of employers reported that their organization had made the projections about retirement rates of their workers to either moderate (24.1 percent) or great (9.7 percent) extent.

 

The researchers stress that flexibility resonates particularly with older workers. They also recommend that employers and organizations begin to ask themselves the following, critical questions:

 

Does the organization have enough information about the age composition of specific departments and teams?

Are some occupational groups more susceptible to changes in the distribution of age groups than others?

How might managers promote the sharing of knowledge among employees at different career stages?

Could the continued labor force participation of older workers (and the postponement of full-time retirement) help the organization to address some of its HR challenges?

Has the organization developed a business case for flexible work options?

Do the supervisors fully understand the importance of flexible work options both to the business itself and to employee engagement?

 

The full report/summary report can be found online at www.bc.edu/agingandwork.

Reference article retrieved from www.workforceatm.org April 2007.

50+ Workforce Promising Practices and Strategies

The U.S. Chamber's institute for a Competitive Workforce (ICW) developed a collection of promising practices for meeting the challenges of America's aging workforce. Last year, ICW conducted four 50 workshops in Connecticut, South Carolina, Northern Kentucky, and Arizona to better understand how employers are developing strategies and solutions for successfully managing the impending retirement of the baby boom generation.

 

During the workshops, participants identified several critical workforce challenges they believed are being created by an aging workforce, and assessed the urgency of those challenges on their businesses. The challenges were grouped into four broad categories: Skills Shortage, Knowledge Loss, High Retirement Rate and Management Policy. Next, participants selected a category that most closely represented their most urgent workforce challenge, and then worked in small groups to discuss the challenge and potential solutions. The discussions formed the basis for establishing individualized goals and action plans—strategies and tactics employers might initiate over a six-month period. At the end of six months, a summary of employer action plans were collected and organized into a matrix.

 

The matrix is a resource for small and medium-size businesses. It is a collection of strategies, actions, and activities many employers are using to address issues of an aging workforce. he matrix can be downloaded at http://www.uschamber.com/icw/strategies/matrix.htm.

Workforce Innovations 2007

Workforce Innovations 2007 is the U.S. Department of Labor's premier annual conference where workforce development leaders, HR directors, and education providers share the strategies needed to prepare a skilled workforce as well as to insure a globally competitive economy.

 

The U. S. Chamber's ICW, in partnership with the Department of Labor's Employment and Training Administration, will co-host Business Leadership Day on July 18thin Kansas City, MO. Employers, human resource professionals, and chamber of commerce staff is invited to take part in learning best practices on how industry is connecting with the public workforce investment system. You also will learn how to take advantage of low and no cost resources that can help your region hire and train a skilled workforce for the 21st century.

 

Learn more about Workforce Innovations 2007 at http://www.workforceinnovations.org.

Education Spotlight: Educating World Class Students

Governor Pawlenty, in his address to the Twin Cities Chamber in April 2007, stated that the most notable challenge and greatest concern is that "one-third of Minnesota's children remain on the bench" or are unsuccessful in getting the necessary education to participate in the workforce.

 

This year as the legislature considers education improvements, the state will likely increase K-12 spending, address special education needs and expand finding for early learning/school readiness programs with family "scholarships" in the private pre-kindergarten marketplace.

 

Pawlenty, along with Education Commissioner Alice Seagren, call for adoption of his proposed 3R program of "rigor, relevance and results." The effort calls for strengthened academic requirements of students, more college level course access during high school, meaningful work-based learning and internships, "pay for performance" changes in teacher compensation and a "closing the achievement gap" set of initiatives.

 

Notable quotes from the Governor include:

 

Parents are the number one educator and "we cannot legislate good parenting..."

We must focus first "on helping those kids who are the furthest behind..."

High School education is a "waste" for many students and must be "overhauled"

The K-12 cost structure necessarily emphasizes personnel (85% for pay, benefits, COLA's)

Changes will require level headed partnerships and a long term plan with teachers, school boards, superintendents

Some people who have invested a great deal of time and money "have given up on making K-12 education work. I have not given up, we can do this..."

 

More specific information on the 3R program and education reform can be accessed at http://www.education.state.mn.us/mde/index.html.

Coleman Fights to Bolster America’s Competitiveness

Senator Coleman introduced bipartisan legislation in March 2007 focused at strengthening our high-tech industry and workforce to ensure the U.S. remains a leader in technology and innovation. The COMPETE Act, Competitiveness through Education, Technology and Enterprise Act, takes significant steps to keep America competitive by making permanent the research and development tax credit, establishing a high-tech workforce training credit and offering incentives to strengthen and improve math and science education.

 

Bill Gates also came before Congress and testified, "The U.S. cannot maintain its economic leadership unless our workforce consists of people who have the knowledge and skills needed to drive innovation." In an increasingly global economy, Coleman Stated, "We need to ensure that America remains competitive in order to keep growing high paying, high quality jobs here at home. Simply put, we need to do what is necessary to keep the U.S. competitive, starting with research and development and a better educated workforce. By better preparing our future workforce, upskilling our current workforce, enabling American companies to remain at the forefront of innovation and better utilizing existing private-public partnerships we will be better positioned to secure our leadership in the global economy."

Workforce 2020 Receives Ventures Grant

The Rochester Area Foundation recognized and awarded Workforce 2020 with a $20,000 grant to further their efforts in finding innovative solutions to ensure that businesses have access - today and tomorrow - to an educated and skilled workforce. Currently the Workforce 2020 team looks to enlist the support of a consulting firm to drive this effort. This firm will help the team to examine how to make the most of our assets and position Rochester for continued growth and success.

 

Workforce 2020 is a coalition comprised of the Rochester Area Chamber of Commerce, Rochester Area Foundation, Rochester Area Economic Development Inc., and the Department of Employment and Economic Development. The mission is to find innovative solutions to ensure that businesses have access - today and tomorrow - to an educated and skilled workforce.

Editor's Note

Editor's Note: Articles are chosen to reflect opinions and developments in workforce and education and do not necessarily represent positions held by the Rochester Area Chamber of Commerce.

 

To learn more about Workforce 2020, review the PP presentation and Did You Know video located on the Chamber website at www.rochestermnchamber.com.