Photographs by Stuart O’Sullivan
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Great Jobs—Our Annual List
By Russell Wild, November-December 2003
Check out our exclusive list of the 25 hot places to work after age 50. Plus, three fields that are eager for experienced workers
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Annie Abernathy is 72, and she works in her garden, and bakes fresh bread, and travels three months a year in a motor home with her husband. But before you slap her with the Classic All-American Domestic Grandmother label, remember this: Annie wants a paycheck. That 38-foot motor home doesn't come cheap. Plus, the Abernathys share their three-bedroom ranch home with their 18-year-old grandson, Chris, who just started classes at the local community college. But this isn't just about making ends meet. Annie likes to work. And as a nurse, her skills are in demand.
Part-timers like Annie Abernathy are an increasingly common force in the workplace, balancing leisure with lunch pails. Sixty-eight percent of workers between the ages of 50 and 70 plan to work in retirement or never retire, and by 2015 about 20 percent of America's work force will be 55 or older (in 2000 it was 13 percent).
In fact, a greater percentage of people between 55 and 64 had jobs this year than in the boom year of 2000—bucking the national trend. And their wages are rising faster than any other age group's, suggesting that employers have begun to recognize the value of experienced workers. Naturally, those workers also recognize the value of a paycheck; for some, it's a necessity. "Most members of the baby boom generation haven't saved enough for retirement," says former U.S. Secretary of Labor Robert Reich. Plus, a lot of boomers started families later, so they're paying for their kids' college. But the refuse-to-accept-a-gold-watch movement isn't just about money. Americans are living longer, living better—why stop working? The key is finding a job that complements your life without consuming it and finding a company that embraces older workers—and casts aside the old stereotypes.
Which brings us to a refreshing new trend. As America's 50-and-older population skyrockets, a small but growing number of companies are not just welcoming older workers, they're enticing them with age-friendly benefits. These are the types of companies that make up the AARP Best Employers for Workers Over 50 list. The annual listing honors companies that have "employment policies and practices favorable to older workers" and grades them in several categories, including workplace culture and training opportunities. The number one company on this year's list—and the winner of three consecutive titles—is Annie Abernathy's employer, Baptist Health South Florida, a not-for-profit health care organization that runs five facilities in and around Miami.
What makes Baptist Health a three-time champ? Great benefits, including plenty aimed at older employees. "What blew me away about Baptist Health was how they're looking into new technologies, such as hydraulics to help lift patients off beds, so that older workers who lose strength can keep doing their jobs," says Deborah Russell, manager of economic security and work for AARP. No adverse action can be taken against an employee with more than 15 years of service without the approval of a review committee, and employees with 10 years of service can start receiving retirement income at 55.
Baptist Health doesn't do this to be nice. It's a business decision. With a health care worker shortage made more acute by Florida's elderly demographic, Baptist Health needs to attract skilled older workers and retain current employees as they age. Other companies are finding themselves in the same position. Among the benefits offered by employers on our list:
> Financial Services Most companies offer some sort of retirement plan, but the best ones provide workshops, seminars, and counseling. Great Example: First Tennessee National Corp., a financial services firm in Memphis, assigns advisers to help employees devise retirement plans, and retirees have their own dedicated financial specialist.
> Health Benefits Most of the employers on our list offer not only basic benefits—prescription drugs and health, vision, and dental care—but long-term care insurance and short- and long-term disability insurance. Some even offer wellness programs. Great Example: Roche Inc., a New Jersey-based pharmaceutical company, offers a program that includes free health screenings and customized fitness programs.
> Training Opportunities This includes everything from skill development to career counseling. Great Example: The Massachusetts Institute of Technology offers career training to all employees and courses specifically for workers over 50.
> Mentoring Ideally it works two ways: 1) Experienced employees help train younger workers, and 2) Older workers return to the company and receive a mentor to help retrain them. (See our web-exclusive sidebar Reverse Mentoring Explained.) Great Example: At Baptist Health, older employees receive bonuses for mentoring new employees.
> Flexible Schedules Forget the punch clock: 28.8 percent of American workers now have a flexible schedule, nearly twice as many as 10 years ago. Great Example: SSM Health Care in St. Louis, Missouri, offers time off for dependent care, and spouses of retirees can take summers off to travel.
> Phased Retirement Rather than quit cold turkey, many employees prefer to ease into retirement. Great Example: Bon Secours Richmond Health Systems in Richmond, Virginia, lets workers shift to part-time or on-call status—and they have to work only 16 hours per two-week pay period to retain benefits.
> Welcome Back Policies Some companies allow retirees to return to work after they've left the job. Great Example: The MITRE Corporation, a not-for-profit systems engineering and information technology company based in Massachusetts and Virginia, offers Reserves at the Ready, a program that allows retirees to be on call for part-time work.
In many cases, a company's attitude toward older workers has a lot to do with the industry. Age bias is especially pronounced in youth-oriented sectors like advertising, technology, and securities, says AARP's Russell. "When you have a company like a dot-com with predominantly younger workers, you tend to find more age bias," she says. "Younger managers often have a difficult time supervising older workers. One young manager at a focus group said it was like managing his father."
High-tech may still be high-bias, but other industries are actively recruiting older workers. The big three:
1. Health Care
Five of the top 10 companies in the list are health care firms. No surprise there: Nationwide there's a growing shortage of nurses. Thirty states have reported a dearth of registered nurses; by 2020 it's expected to be 40 states. Plus, health care is a profession that values experience. "When things are going right, the older workers are so good to have on staff," says Tom Moore, 57, head of Baptist Health's employee health office. "But it's when things go wrong—that's when you come to really appreciate the older workers. They're the ones who know what needs to be done."
2. Retail and Customer Service
Retailers aren't immune to age discrimination charges—Foot Locker settled with a group of workers for $3.5 million late in 2002—but they're also fishing in a shallow labor pool for sales staff. The Bureau of Labor Statistics predicts that retail will be in the top 10 in job growth by the year 2008 due to worker shortages. "It's like health care—an industry that's growing fast and needs workers," says Russell. "It's also an industry where human contact is important, and older workers tend to be seen as being good with people." They're also considered less risky and more loyal. According to the U.S. Department of Labor, the median tenure of workers 55 to 64 is three and a half times higher than workers 25 to 34. But just because retailers need you, doesn't mean you need them. Low profit margins and a competitive market mean that most retail jobs pay poorly and offer few benefits.
3. Education
Shortages are also a problem for the nation's schools, where demand for teachers is rising fast. Teachers' organizations predict 150,000 to 250,000 openings in elementary and secondary schools by 2010, as public school enrollment jumps by nearly two million. The need is especially acute in states with growing populations such as California, Texas, Nevada, North Carolina, and Florida. Subjects where teachers are especially needed: math, science, special education, and English as a second language. The pay is modest, but most school systems offer good benefits and pensions.
As for the job market as a whole, take heart. Once the economy gains steam, worker shortages will be the top concern for employers, predicts HR Magazine, a publication for human resource professionals. When that happens, older workers will be more in demand. It's simple mathematics—the pool of young workers isn't big enough to fill all the available jobs. And that means more companies may be vying for your skills.
Russell Wild writes frequently for AARP The Magazine.
Now, learn how different generations of co-workers are mentoring each other in our web-exclusive peek at the concept of "reverse mentoring."
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