New York Issue | September 2023

The tradition of retiring around 65 is fading, as increasing numbers of older adults choose to remain employed later in life. According to the Bureau of Labor Statistics, the labor force participation rate for adults 75 and older is projected to increase from 8.9% in 2020 to 11.7% by 2030, reflecting this trend towards delayed retirement.

With Americans living longer and healthier lives, many older adults simply do not want to stop working. Surveys show the majority of older employees say they work primarily for reasons other than money, such as staying mentally and physically active and maintaining social connections. The economic realities of living longer also play a role. Pensions are not as common as they once were requiring workers to fund a longer retirement through 401ks or similar plans. Healthcare, housing, and other costs continue to rise as well. Working beyond traditional retirement age provides extra income and allows some older adults to maximize their Social Security benefits past full retirement age.

Older employees aren’t just filling grocery store shelves and office cubicles. Many are pursuing careers that allow them to use decades of accumulated skills and experience in new ways. Popular options include consulting, mentoring, starting businesses, and working for nonprofits or in healthcare - fields that align with their interests and passions.

The trend towards delayed retirement is projected to continue growing. Remaining engaged in meaningful, rewarding work activities well past traditional retirement age can provide mental, physical, social, and financial health benefits throughout the later years of life.

Expand your capacity and strengthen your community programs. MaturityWorks provides seniors with the opportunity to rejoin the workforce by providing job training and work experience. MaturityWorks matches eligible older job seekers with local nonprofits and public agencies so they can increase skills and build self-confidence while earning an income. Contact us today for information on becoming a host agency. Visit www.workplace.org/maturityworks

Sources: U.S. News and World Report

Why are major companies like Microsoft and Bank of America suddenly so interested in hiring older workers? Johnny Taylor, President and CEO of the Society for Human Resource Management, recently spoke with CBS News Money Watch to unpack the perceptions about mature workers and explain these corporations' new pledges to give employees over 50 a fair shot.

Recent research shows age-inclusive workplaces experience less turnover, higher engagement, and major gains in expertise. As the workforce ages and people work longer, companies need to adapt to support employees of all ages. Here are some tips to create a more age-friendly work environment.

With some thoughtful policies and practices, companies can show employees of all ages are valued. Small changes can make a big difference in creating an age-friendly work culture.

Source: CDC Productive Aging and Work

Fazil Hasim was unemployed and living off his savings in the Bronx when he came across a flyer for MaturityWorks at his local assemblywoman’s office. Having worked as a social worker specializing in geriatric clients, he was immediately interested in the program.

He joined MaturityWorks in July 2022 with the goal of finding work again as a case manager. Fazil began training at HOGAR Inc. in support services. For six months he assisted clients with intake, assessments, referrals, and progress reports. Drawing on his social work background, Fazil strived to provide clients with tools for independence and built strong working relationships. His devotion and experience were clear assets. This training assignment at HOGAR Inc. allowed Fazil to build upon his social work background by improving his computer, customer service, and communication skills, while also gaining valuable experience that moved him closer to achieving his goal of returning to work as a case manager.

Impressed with his performance, HOGAR hired Fazil full-time as a case manager. Now he can continue making a direct impact. Grateful for the opportunity MaturityWorks provided, Fazil says the program allowed him to restart his career and prove age is no barrier. With upgraded computer skills and new experiences, he looks forward to helping many more clients.

For over 30 years, EXPONENTS has been a lifeline for New Yorkers struggling with substance abuse and chronic health conditions. They believe in the power of peer support and empowerment to help people reclaim their lives. EXPONENTS offers comprehensive treatment, recovery services and professional development programs.

As a valued MaturityWorks host agency since 2021, EXPONENTS has provided older adult trainees with rich hands-on learning experiences. Nearly a dozen MaturityWorks trainees have developed administrative, tech and counseling skills while training onsite. EXPONENTS encourages professional growth and often hires successful trainees into open positions.

For Marie Jean-Baptiste, the chance to train at EXPONENTS changed her career. Matched to the organization as a program coordinator trainee, Marie impressed staff with her capabilities. She was soon hired full-time as a program administrator, crediting EXPONENTS for empowering her with new skills and confidence. Another trainee, Rosalinda Black, completed the intensive CASAC curriculum through EXPONENTS in 2022 to launch a new career as a licensed drug counselor with the organization.

By investing in MaturityWorks trainees, EXPONENTS sets a shining example of a partner that truly cares about developing older talent. The organization's commitment to empowering mature workers with meaningful skills and job opportunities perfectly aligns with the mission of MaturityWorks.