Recruiting and retaining baby boomers

Arkansas Business, May 12, 2008

Over the next decade, the U.S. Bureau of Labor Statistics anticipates that 76 million Baby Boomers, or 43 percent of the current work force, will be eligible to retire. The two following generations are 15 percent smaller, and 61 percent of those entering the work force are not fully qualified. Unless something is done to change this reality, there will be less than 50 million workers to fill the void.

In 2006, Arkansas launched the Arkansas Mature Worker Initiative, a work force development program designed to educate employers about the benefits of hiring older workers. One of the initiative's objectives is to connect employers to mature workers, or anyone 50-plus, through the Arkansas Workforce Centers.

Today, this initiative continues to push for increased awareness and appreciation of mature workers by developing relationships with the public work force system, chambers of commerce, national and local training providers, associations, labor unions, community organizations, policymakers and business leaders.

"Mature workers are loyal and dedicated, and the contribution they bring to society is immeasurable," Gov. Mike Beebe recently said in his weekly column and radio address. "It is important that we continue finding new ways to retain our experienced workers. Without them, the institutional knowledge that comes from years of experience in a chosen field would be lost."

According to the Bureau of Labor Statistics, more than 32 percent of men and 22 percent of women ages 65 to 69 still work full or part time. AARP, a partner with the initiative, has compiled a list of national companies willing to hire and retain mature workers. Many of these company have a presence in Arkansas, including Home Depot, Walgreens, Comcast Cable, Cingular Wireless and Verizon.

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In order to recognize Arkansas employers who are doing the same thing, the Arkansas Mature Worker Initiative has joined forces with the Governor's Work-Life Balance Initiative to acknowledge Arkansas companies that have policies and programs to recruit and retain workers over the age of 50.

Also, the Arkansas team of the National Governors Association Center for Best Practices' Policy Academy on Civic Engagement and Employment of Older Adults is working on a plan to address the volunteer and employment needs of this age group. The team's objective is to provide information about meaningful volunteer and employment activities for people 50 and older.