Older Adults at Work: Word from the Field Sara E. Rix, Ph.D. AARP - - PowerPoint PPT Presentation

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Older Adults at Work: Word from the Field

Sara E. Rix, Ph.D. AARP Public Policy Institute Forum on Financial Experiences of Older Adults FRB Division of Consumer and Community Affairs Washington, DC, July 17, 2013

Full-and Part-time Employment of Workers Aged 65+, 1980–2012*

30% 35% 40% 45% 50% 55% 60% 65%

1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

Full-time Part-time

*Part-time is less than 35 hours per week. Source: AARP PPI calculations using the Current Population Survey, March supplements.

What’s Very Important to Older Workers?

70% 37% 31% 28% 26% 19% 58% 34% 27% 20% 19% 14%

Paid time off Flex time Formal phased retirement Compressed schedule Telecommuting Job sharing

Ages 50-59 Ages 60-69

Source: S. Kathi Brown, What Are Older Workers Seeking? An AARP/SHRM Survey of 50+ Workers, 2012 at http://www.aarp.org/content/dam/aarp/research/surveys_statistics/econ/2012/What-Are-Older-Workers-Seeking- An-AARP-SHRM-Survey-of-50-Plus-Workers-AARP.pdf.

Access to Paid Time Off in Private Industry, March 2012

61% 77% 77% 29% 49% 50% 84% 90% 91%

Sick Leave Vacation Holidays All Lowest 25% Wages* Highest 25% Wages*

*Based on average wage in category. Source: U.S. Department of Labor, Bureau of Labor Statistics, Employee Benefits in the United States—March 2012, July 11, 2012 at http://www.bls.gov/news.release/pdf/ebs2.pdf.

Flexible Work Options Offered by Employers*

2% 7% 17% 2% 6% 9% 27% 55% 18% 36% 53% 33% 63% 39% 77% 87%

Work part year Compress work week Phase into retirement Regularly work at home Occasionally work at home Daily change start/quit time Periodically change start/quit time Time for fam/personal matters

To some employees To all/most employees

*With 50 or more employees. Source: Kenneth Matos and Ellen Galinsky, 2012 National Employer Survey (New York: Families and Work Institute, 2012) at http://familiesandwork.org/site/research/reports/NSE_2012.pdf.

Reasons for Work-Life Initiatives

(mentioned by at least 10% of employers*)

11% 11% 12% 12% 12% 16% 37%

Right thing to do Recruitment Retain highly skilled employees Mandated by law Improve morale Help employees manage work/family life Retain employees in general

*With 50 or more employees; asked of employers with a least eight family-friendly policies. Source: Kenneth Matos and Ellen Galinsky, 2012 National Employer Survey (New York: Families and Work Institute, 2012) at http://familiesandwork.org/site/research/reports/NSE_2012.pdf.

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Contact Us:

Sara Rix Senior Strategic Policy Advisor srix@aarp.org AARP Public Policy Institute www.aarp.org/ppi Twitter:@AARPpolicy www.Facebook.com/AARPpolicy Blog: www.aarp.org/policyblog