Pennsylvania Issue | March 2024
Volume 8, Issue 1
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The New Reality of Retirement |
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The traditional picture of retirement is evolving. As lifespans increase, many individuals find they need to extend their working years to solidify their finical security. The Retirement Income Institute reports that around 40% of Americans nearing retirement age won't have enough saved. With longer lifespans, some may find their savings need a boost. This new trend presents an opportunity for employers to tap into a rich pool of experienced and skilled workers.
This financial gap stems from multiple sources, including the decline of traditional pensions, stagnant wages, and rising healthcare costs. Additionally, the rise of the gig economy, while offering flexibility, often lacks the support of employer-sponsored retirement plans, further compounding the issue. But what does this mean for the future of retirement? Experts foresee a significant shift: older adults staying in the workforce longer. This trend is already evident, with labor participation rates for those aged 65-69 at their highest level in decades.
This shift in retirement patterns presents employers with a chance to gain a significant edge in the workforce. By becoming an age-friendly workplace that values the experience and skills of older workers, companies can take advantage of a pool of experienced and skilled older workers. This not only fosters inclusivity but also creates opportunities for those seeking extended work. Older workers bring a wealth of institutional knowledge, proven problem-solving skills, and valuable perspectives that can boost innovation and creativity within teams. They also tend to be reliable with a strong work ethic, leading to lower turnover.
The future of retirement may be uncertain, but one thing is clear: a win-win scenario exists. By embracing this evolving landscape and implementing innovative solutions, employers can gain access to a valuable talent pool, while individuals can achieve a secure and fulfilling retirement. Let's work together to ensure a future where everyone thrives, regardless of age.
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CBS News chief medical correspondent Dr. Jonathan LaPook talks with experts about the distinctions between normal and abnormal aging as it affects memory issues, and a workforce continuing beyond traditional retirement age. |
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Staying Relevant in The Workforce |
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The world of work is constantly evolving, but experienced professionals bring a wealth of knowledge and skills that are invaluable. Their ability to solve problems, navigate complex situations, and mentor younger colleagues is a key asset for any organization. By staying curious, adaptable, and willing to share their wisdom, seasoned workers can ensure they remain relevant and continue to thrive in the ever-changing workplace.
Here are some tips to staying relevant in the workforce:
Embrace lifelong learning: Be open to new ideas and technologies in your field. Online platforms like Coursera and Udemy offer a vast array of courses, both free and paid, to help you upskill in in-demand areas like data analysis, digital marketing, or project management software relevant to your field.
Have a strong personal brand: Create a strong LinkedIn profile that showcases your expertise and experience. Optimize your profile with relevant keywords and use industry-specific hashtags to get noticed by recruiters. Share insightful articles, participate in industry discussions, and consider creating your own content to establish yourself as a thought leader.
Leverage your experience: Share your knowledge and foster intergenerational collaboration by mentoring younger colleagues. You can also volunteer for internal training programs or committees to contribute your expertise. Participating in industry events and conferences is a great way to stay updated on the latest trends and network with peers.
By staying curious, adaptable, and willing to share their wisdom, experienced workers can ensure they remain relevant and continue to make significant contributions in the ever-changing world of work. This not only benefits them by keeping their skills sharp and opening doors to new opportunities, but it also helps to cultivate a more collaborative and knowledgeable workforce for everyone.
Source: MarketWatch, SHRM
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Anna Marie Calabrese has been a Maturity works participant for multiple years and was honored to accept a permanent part- time position at the Media Courthouse in Delaware County PA. At the ripe age of 87 years old, Anna Marie resides in Media, Pa and is a proud mother of 4 adult children and 5 grandchildren with whom she loves spending quality time with.
Prior to MaturityWorks, Anna Marie was employed with a private accounting office as a secretary for 20 years before the office shut down and she was laid off. She learned of the MaturityWorks when she went into the Career Link to apply for unemployment. Anna Marie immediately applied and started working with her career counselor to identify training opportunities. She began her training assignment at CareerLink doing clerical work.
During her training, Anna Marie and her counselor worked on applying to various companies, but she did not find success. But Anna Marie did not give up. She was eventually offered a part-time position as a court administrator at the Media PA Courthouse. Some of her duties include filing, sitting in on court hearings, answering phone calls and being available if the judge needs anything.
Anna Marie is very grateful for the MaturityWorks training program and her Career Counselors and keeps in touch with the staff. We still speak on the telephone and text frequently. At 87 years old and still determined to gain employment Anna Marie is truly a shining star.
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The Women's Empowerment Initiative (WEI) is a 501(c)(3) organization dedicated to uplifting and empowering women from diverse backgrounds across Philadelphia. WEI provides crucial services including job placement assistance, continuing education opportunities, business mentoring programs, and support for women entrepreneurs. Additionally, WEI facilitates a specialized mortgage lending program focused on helping women successfully navigate home ownership, with alternatives to foreclosure. Revenue from WEI's self-sustaining business ventures, like its alternative staffing agency, helps fund programming at little or no cost for marginalized women in need across Philadelphia. These programs create pathways for spiritual, educational, and economic advancement to transform lives.
WEI has partnered with MaturityWorks for almost two years, hosting five trainees' participants. Currently, WEI provides MaturityWorks participants with meaningful training in community outreach connecting women in need to WEI resources. Training is also provided in office administration where trainees organize files, prepare documents, answer phones, and schedule appointments. Additionally, training in maintenance operations has trainees assisting with building upkeep and coordinating repairs. By building transferable skills in these critical operational areas, trainees are prepared for impactful community work. As the partnership continues to grow, WEI and MaturityWorks look forward to creating new collaborative community initiatives to uplift and empower even more women across Philadelphia.
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1000 Lafayette Blvd, Suite 501 · Bridgeport, CT 06604 · (203) 610-8500 |
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