Just as retirement residence employers were adjusting their strategies to deal with staffing shortages, the recession may have thrown them a changeup ball. Experts have been warning of an impending massive exit of baby boomers into retirement. Gaps in residence senior- and middle-management would emerge, they predicted, around the same time as the population bulge began arriving at retirement residence doors. It has already been difficult to find the right staff in the much smaller generation X and generation Y demographic pools.
But the current recession, depending on its length, could have quite an impact on employment in general and especially on the age of retirement. It may provide a time extension for a crucial transfer of knowledge from one generation of employees to the next. And it will likely open up a new supply of 50-plus workers.
“Boomers will have to work longer,” says Barbara Jaworski, founder of the Workplace Institute and a leading expert on Canada’s 50-plus workers. “Already 50 per cent of people are retiring with debt.” As debt pressures increase, the current average retirement age of 61 is likely to increase by several years. “That could be good news for employers.”
Although “employers may have a temporary reprieve,” Jaworski warns of a new danger: employers want people who love their jobs, but they may have to cope with those who stay only because they can’t afford to retire. So tight economy or not, it will continue to be critical to examine company policies on attracting, retaining and rewarding employees. In her recent book KAA-BOOM: How to Engage the 50-Plus Worker and Beat the Workforce Crisis (see review on page 57 in
our digital magazine), Jaworski encourages employers to recognize the potential of mature workers and outlines the best practices for winning “the war for talent.”
People who have lost jobs in disappearing older industries will be ready for second careers and willing to learn new skills, Jaworski says. It could be an opportunity for a health-care sector facing staff shortages. Boomers are interested in contributing, in finding meaning in their work, she says. They are loyal, their experience has informed their judgment, and they don’t need as much supervision as young workers who want immediate feedback. For employers, the challenge is to create jobs that don’t have to be full-time.
Some employers see the recession as a chance to take a breather from staffing strategies, but uncertain times shouldn’t halt planning, only change the way you do it, says workforce consultant and author Thomas Bechet. “In times of great change, workplace planning must be implemented in a non-traditional, more flexible context.” Instead of trying to plan for all jobs in the whole organization, staffing strategies can focus on specific issues, upcoming business changes, hard-to-fill positions or critical job families. “Build contingency plans and develop ‘what if’ analyses,” he says. Tailor the process for each issue.
In this year's Dialogue Plus, we outline various staffing strategies from retirement home insiders. Check out our
retirement industry articles online.