Please join us in welcoming the newest members of the Living, Learning, and Earning Longer Collaborative, SHRM, Mastercard, Zillow, and Top Sixty Over Sixty! We are thrilled to have grown our network of employers to a total of 71 companies, and we’d love your help in getting us to 100 by the end of this year. Please email Jeff Gullo (jgullo@aarp.org) with names and contact information for anyone in your networks who would like to learn more about LLEL.
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11 AM EST, July 6th, 2022: LLEL Collaborative Caregiving Call. LLEL is convening a roundtable to discuss how supporting working family caregivers can be an effective recruitment and retention tool. Members will share lessons learned from their own programs and research, including how those initiatives impact productivity and employee wellbeing. Register here
11 AM EST, August 17th, 2022: LLEL Collaborative Peer Learning Call. Don't forget to join us for LLEL's August Meeting. This call is open only to members of the LLEL Collaborative. Register here.
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| AARP Insights & Resources
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Older Americans are an overlooked solution to the ongoing talent shortage, says AARP CEO. Fortune, June 2022. Despite the heightened focus on diversity and inclusion in recent years, age diversity is still often an afterthought. That's something AARP CEO Jo Ann Jenkins wants to change, especially as more retirees re-enter the workforce, either out of financial necessity or because they feel they have more to contribute. Jenkins, who's been AARP's CEO since 2014, is part of a World Economic Forum committee that advises large employers, including a number of Fortune 500 companies, on combatting ageism in the workplace.
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The Great Realization: What Employers Should Realize About Age Diversity. Forbes, June 2022. AARP Senior Vice President for Global Thought Leadership Jean Accius highlights the value of the multigenerational workforce for employers while reflecting on how the workforce has changed during the pandemic. The focus areas that should be on the agendas of all boards and CEOs moving forward, Accius writes, include developing a multigenerational workforce strategy to retain and attract top talent and becoming a magnet for talent by creating moments of collaboration, connection, and belonging.
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Life is Good, Especially for Older Americans. June 2022. Overall self-reported happiness grows with age, according to an AARP Research collaboration with National Geographic. The study found that 34% of adults 80-plus and 27% of those in their 70s report they are “very happy,” compared to 21% of those 60 to 69, 18% of those 50 to 59 and 16% of those 40 to 49. Key happiness factors that were identified are the importance of relationships, independence, and health.
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How Older Adults Are Managing Their Emotional and Mental Wellbeing. May 2022. After more than two years of the pandemic, most older adults report that their emotional and mental health are very good. 58% of older adults rate their level of resiliency from emotional challenges as high. However, about 61% of those 50-plus have experienced some level of anxiety in the past year. The lasting impacts of the pandemic, the Russian invasion of Ukraine, and domestic politics have all contributed to higher levels of anxiety.
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5 Unexpected Reasons Retirees Are Returning to Work. May 2022. Older workers are returning to the workforce after the pandemic drove millions into retirement. According to Indeed, 3.3% (1.7 million) of those who retired a year ago are employed again. While no one goes into retirement expecting to return to work, there can be unforeseen reasons for doing so such as inflation, a changing work landscape, and loneliness.
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| Other Multigenerational Workforce News and Resources
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The Unretirement. Stanford Center on Longevity: Century Lives Podcast, June 2022. People 55+ are reinventing life post-retirement from its traditional image to a time for exploring second chapters and especially for opportunities that bring meaning, purpose, and community. What does this new phase of the work experience look like and how can more of us find inspiration as we work longer? The Stanford Center on Longevity highlights the voices of people who have thought about and are living post-retirement careers, including an art gallery director who found a second calling as a letter writer for people at end of life and the founder of a nonprofit supporting “encore careers.”
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Addressing Economic Insecurity in the U.S. National Academy of Social Insurance, June 2022. The National Academy of Social Insurance’s 2019-2021 Economic Security Study Panel was formed in the fall of 2019 to assess economic insecurity and present policy options to better provide stable and adequate income. The Panel’s final report examines how economic insecurity has evolved over time, how it might be addressed, what assured income might mean in practice, and how to achieve it. The final report presents the four pillars of labor, benefit, protection, and equity policies as a framework for addressing the many facets of economic insecurity in U.S. society today.
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Employment Gaps: The Struggle of Re-Entering the Workforce. SHRM, May 2022. The U.S. Equal Employment Opportunity Commission and the U.S. Department of Labor's Office of Federal Contract Compliance Programs hosted a roundtable to discuss challenges workers face when re-entering the workforce after periods of unemployment. Speakers offered ways to foster healthy environments for underrepresented groups such as those with employment gaps. AARP Senior Advisor Heather Tinsley-Fix spoke about the many older workers who have struggled to secure employment during the pandemic.
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Age, Experience, and Business Performance: A Meta-Analysis of Work Unit-Level Effects. Work, Aging and Retirement, Oxford Academic, April 2022. Adopting an interdisciplinary perspective, this article reports new evidence on the impact of age and experience on work performance. Two types of experience that increase with age are “general” and “firm-specific.” Both were found to positively affect performance, whereas age had no effect. The lack of evidence of an age-performance relationship is consistent with psychological research but contravenes economics research literature that generally reports negative relationships between age and performance.
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Mental Health in America: A 2022 Workplace Report. SHRM, 2022. There is a workplace mental health crisis in America. Burnout, exhaustion and hopelessness are more common among workers than ever before, while pandemic related stress continues to chip away at productivity. HR professionals can play an essential role in curating mental health resources, connecting workers with support and educating people managers about supporting their staff. To better understand this opportunity, SHRM collaborated with Otsuka America Pharmaceutical, Inc., to complete its 2022 mental health workplace benefits study. Conducted in January 2022, the study draws on the perspectives of HR professionals, and it shares findings on what is and isn’t working when it comes to addressing mental health—and why.
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| LLEL Employer Spotlight: Mastercard
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This month, we're pleased to also highlight the work of one of our newest members, Mastercard.
LLEL Collaborative Member, Mastercard, takes advantage of a key best practice for employers by including age in their first Diversity, Equity, and Inclusion report. Not only is age included in Mastercard’s definition of diversity, but the report also measures a generational breakdown of the workforce. The company further provides workers access to Employee Resource Groups that celebrate experience and learning, including ePros for experienced professionals with 10+ years of experience and YoPros for young professionals. The full report can be downloaded here.
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LLEL members are always invited to contribute to our newsletter by sharing new resources or by highlighting their recent LLEL-related efforts. Content and questions can be sent to aarp@publicprivatestrategies.com.
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| About the Living, Learning and Earning Longer (LLEL) Collaborative
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The Living, Learning and Earning Longer Collaborative (LLEL) works with global companies to refine the business case for age diversity and highlight promising practices from around the world. With the World Economic Forum (WEF) and Organisation for Economic Co-operation and Development (OECD), AARP is considering the complexities of the multigenerational workforce in the context of an organization’s recruitment and retention practices, flexible work and caregiving benefits, lifelong learning, and training and assessment procedures. To learn more, visit Growing with Age: Unlocking the Power of the Multigenerational Workforce, LLEL's digital learning platform which offers tools—including the latest research that makes the business case for age diversity—to help employers build, support and sustain multigenerational workforces.
If your organization has not done so already, we highly encourage joining the AARP Employer Pledge Program. This program connects a nationwide group of employers that stand with AARP in affirming the value of experienced workers and is committed to developing diverse organizations. Learn more about signing the pledge.
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