Is It the Great Resignation or Great Reshuffle?
Is It the Great Resignation or Great Reshuffle Take on Today
Susan Weinstock:
The great resignation is a really interesting concept and how older adults fit in is also a very pertinent part of that, particularly, of course, for AARP. What we found is that, from new AARP survey research of those who are 50 and older, the 21% of those who have retired since the pandemic began retired actually earlier than they had planned, actually, because of a pandemic. Bob Edwards: In this new survey, researchers asked respondents how the pandemic had affected their work.
Susan Weinstock:
Well, it's interesting because we asked about what it would be like in the job market for those who are 50 and older who have maybe found a new job since the pandemic hit. Interestingly, a third said they found a job with better pay. A quarter said the new job had the number of hours that they actually want to work. 22% said that the new job offered more flexibility of where they work, whether they're from home or a satellite office or that it offered opportunities for growth or greater promotion and, or was more in line with the worker's passion. This question about this great resignation, is it really a resignation or is it really a reshuffle? Workers are finding a job that better fits their lives or their interests or their passions. One of our survey points found that of those who are working from home because of COVID over three quarters of them said they are very or somewhat interested in continuing to do so. That says employers, you need to be thinking about how are you going to retain those workers and offer some flexibility that will keep them around. Bob Edwards: At the moment, employers are reportedly having a difficult time attracting new hires. But at the same time, research shows that there are many older adults who have been out of work for over half a year -- the long-term unemployed. Susan Weinstock:
The long term unemployed is the concept that AARP has focused a lot on particularly in the last year. As we looked at the numbers, it's really unfortunate. In the last report from the Bureau of Labor Statistics, it showed the percentage of job seeker is 55 and older who were long-term unemployed, meaning they've been out of the workforce for six months or more had increased to 43%. But yet for those ages, 16 to 54, it actually declined and is now at just 30%. We know that the long-term unemployed is really something that has a great impact on older workers.
Bob Edwards: We’ll leave a link to the Employer Pledge in the show notes. So, what are employers missing out on if they don’t include older adults in their workforce? Susan Weinstock:
Employers really should be thinking about adding age to their diversity equity and inclusion programs, because that is really important. Those programs are very important and they've really become highlighted in the last couple years, but often age is not included as part of that. But yet what we know from research is that multi-generational workforces are more productive. Employees are more highly engaged and it lowers absenteeism. Those are all things that are a win-win both for employees and for employers. Implementing those very methodically is a really important way to have a very successful workforce.
Bob Edwards: If you’re looking for a job now after years of staying with the same employer, you might need a hand. Some aspects of jobhunting have changed. Susan Weinstock:
Older job seekers need to think about how they submit those resumes and what they're doing as far as looking for that job. First of all, networking is critical. Various survey research has come out with different numbers about how important networking is, but it's usually between 60% to 80% of people who report that they got their job through networking. You need to let everybody you know that you are looking for a job. And then on the resume, they always say don't put in any more than two pages. Very important.
Bob Edwards: And if you’re looking for more job-seeking help, Susan’s got you covered.
Susan Weinstock:
AARP really strives to meet people wherever they are in their career journey with tools and resources and tips and information. First of all, we have a free job board. It's at jobs.aarp.org, the Employer Pledge Companies. These are companies that signed our pledge that they value older workers. Job seekers can filter for those jobs on there. If you're a veteran, you can filter for veterans wanted for companies that are particularly interested in hiring veterans. That's one thing that we have. We also have a resume tool called aarp.org/resume. You can get a free critique of your resume by a human being, not by a computer, and they will critique your resume for free. We have discounted packages for having someone rewrite your resume, rewrite your cover letter and, or redo your LinkedIn profile.
Susan Weinstock:
We just launched our Skills Builder for Work and that's at aarp.org/workskills. That program is an online learning platform. There's an entire course catalog available for people to take. We are offering for free the Microsoft OfficeSuite, which is Word, PowerPoint and Excel training. This is particularly useful right now for folks who maybe are in frontline jobs like they are working in a retail or restaurant or warehouse work, and they want to go work in an office. You can't work in an office these days and not know Word, PowerPoint and Excel. We provide that training for free and people can take those courses. We also have another course on master and remote work that could be helpful for those who are working remotely right now and could use some tips to make that better. And then we have another free course about enhancing your personal creativity. As I said, there's a whole host of other courses. Even you can earn credentials or certificates as well. That's all offered at aarp.org/workskills. Bob Edwards: Susan, before we go, do you have anything else to share? Susan Weinstock:
We do also fight against age discrimination. It's a really important part of the work that we do on advocacy. We know that in the last survey that we did of the 50 plus, 78% of folks said they had seen or experienced age discrimination in the workforce. That's the highest number we have ever seen. We are working both at the state and federal level on advocacy to try to get laws passed that will deter employers from discriminating on the basis of age and make it a thing of the past. We know how valuable older workers are, the soft skills they bring to the workforce, empathy, listening, project management, the ability to problem solve, stay calm under pressure, leadership skills, their work ethic. All extremely important and all very valuable to employers. We want to eliminate age discrimination and make that a thing in the past and make sure that all employers really value and retain those older workers. Susan Weinstock is AARP’s VP of Financial Resiliency. That's it for today's show. If you liked this episode, please let us know by emailing us at [email protected]. Thanks to our news team producers, Colby Nelson and Danny Alarcon. Production assistant, Anita Fagbamila. Engineer, Julio Gonzales. Executive producer, Jason Young, and my co-hosts Mike Ellison and Wilma Consul. Become a subscriber on Spotify, Apple Podcast, Stitcher or other apps. And be sure to rate our show as well. For an AARP Take on Today, I'm Bob Edwards. Thank you for listening. A report from the Bureau of Labor Statistics shows that the number of job openings in the U.S. was over 10 million at the end of 2021. Some are calling this trend the Great Resignation. And some are thinking about it differently. We caught up with AARP Vice President of Financial Resiliency Susan Weinstock to discuss how exactly older workers fit in and what they can do to improve their chances in the job market. Subscribe:
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Is It the Great Resignation or Great Reshuffle
We discuss how older workers fit in and what they can do to improve their chances in the job market
Getty Images/AARPBob Edwards: Hi, I’m Bob Edwards with An AARP Take on Today As the economy continues to fluctuate with the impact of COVID-19, people are making decisions about their careers: Working remotely or in-person, dedicating time to caregiving, or even considering stop working all together. A report from the Bureau of Labor Statistics shows that the number of job openings in the U.S. was over 10 million at the end of 2021. Some are calling this trend the Great Resignation. And some are thinking about it differently. Susan Weinstock: This question about this great resignation, is it really a resignation or is it really a reshuffle? We caught up with AARP Vice President of Financial Resiliency Susan Weinstock to discuss how exactly older workers fit in and what they can do to improve their chances in the job market.
Susan Weinstock:
The great resignation is a really interesting concept and how older adults fit in is also a very pertinent part of that, particularly, of course, for AARP. What we found is that, from new AARP survey research of those who are 50 and older, the 21% of those who have retired since the pandemic began retired actually earlier than they had planned, actually, because of a pandemic. Bob Edwards: In this new survey, researchers asked respondents how the pandemic had affected their work.
Susan Weinstock:
Well, it's interesting because we asked about what it would be like in the job market for those who are 50 and older who have maybe found a new job since the pandemic hit. Interestingly, a third said they found a job with better pay. A quarter said the new job had the number of hours that they actually want to work. 22% said that the new job offered more flexibility of where they work, whether they're from home or a satellite office or that it offered opportunities for growth or greater promotion and, or was more in line with the worker's passion. This question about this great resignation, is it really a resignation or is it really a reshuffle? Workers are finding a job that better fits their lives or their interests or their passions. One of our survey points found that of those who are working from home because of COVID over three quarters of them said they are very or somewhat interested in continuing to do so. That says employers, you need to be thinking about how are you going to retain those workers and offer some flexibility that will keep them around. Bob Edwards: At the moment, employers are reportedly having a difficult time attracting new hires. But at the same time, research shows that there are many older adults who have been out of work for over half a year -- the long-term unemployed. Susan Weinstock:
The long term unemployed is the concept that AARP has focused a lot on particularly in the last year. As we looked at the numbers, it's really unfortunate. In the last report from the Bureau of Labor Statistics, it showed the percentage of job seeker is 55 and older who were long-term unemployed, meaning they've been out of the workforce for six months or more had increased to 43%. But yet for those ages, 16 to 54, it actually declined and is now at just 30%. We know that the long-term unemployed is really something that has a great impact on older workers.
Bob Edwards: We’ll leave a link to the Employer Pledge in the show notes. So, what are employers missing out on if they don’t include older adults in their workforce? Susan Weinstock:
Employers really should be thinking about adding age to their diversity equity and inclusion programs, because that is really important. Those programs are very important and they've really become highlighted in the last couple years, but often age is not included as part of that. But yet what we know from research is that multi-generational workforces are more productive. Employees are more highly engaged and it lowers absenteeism. Those are all things that are a win-win both for employees and for employers. Implementing those very methodically is a really important way to have a very successful workforce.
Bob Edwards: If you’re looking for a job now after years of staying with the same employer, you might need a hand. Some aspects of jobhunting have changed. Susan Weinstock:
Older job seekers need to think about how they submit those resumes and what they're doing as far as looking for that job. First of all, networking is critical. Various survey research has come out with different numbers about how important networking is, but it's usually between 60% to 80% of people who report that they got their job through networking. You need to let everybody you know that you are looking for a job. And then on the resume, they always say don't put in any more than two pages. Very important.
Bob Edwards: And if you’re looking for more job-seeking help, Susan’s got you covered.
Susan Weinstock:
AARP really strives to meet people wherever they are in their career journey with tools and resources and tips and information. First of all, we have a free job board. It's at jobs.aarp.org, the Employer Pledge Companies. These are companies that signed our pledge that they value older workers. Job seekers can filter for those jobs on there. If you're a veteran, you can filter for veterans wanted for companies that are particularly interested in hiring veterans. That's one thing that we have. We also have a resume tool called aarp.org/resume. You can get a free critique of your resume by a human being, not by a computer, and they will critique your resume for free. We have discounted packages for having someone rewrite your resume, rewrite your cover letter and, or redo your LinkedIn profile.
Susan Weinstock:
We just launched our Skills Builder for Work and that's at aarp.org/workskills. That program is an online learning platform. There's an entire course catalog available for people to take. We are offering for free the Microsoft OfficeSuite, which is Word, PowerPoint and Excel training. This is particularly useful right now for folks who maybe are in frontline jobs like they are working in a retail or restaurant or warehouse work, and they want to go work in an office. You can't work in an office these days and not know Word, PowerPoint and Excel. We provide that training for free and people can take those courses. We also have another course on master and remote work that could be helpful for those who are working remotely right now and could use some tips to make that better. And then we have another free course about enhancing your personal creativity. As I said, there's a whole host of other courses. Even you can earn credentials or certificates as well. That's all offered at aarp.org/workskills. Bob Edwards: Susan, before we go, do you have anything else to share? Susan Weinstock:
We do also fight against age discrimination. It's a really important part of the work that we do on advocacy. We know that in the last survey that we did of the 50 plus, 78% of folks said they had seen or experienced age discrimination in the workforce. That's the highest number we have ever seen. We are working both at the state and federal level on advocacy to try to get laws passed that will deter employers from discriminating on the basis of age and make it a thing of the past. We know how valuable older workers are, the soft skills they bring to the workforce, empathy, listening, project management, the ability to problem solve, stay calm under pressure, leadership skills, their work ethic. All extremely important and all very valuable to employers. We want to eliminate age discrimination and make that a thing in the past and make sure that all employers really value and retain those older workers. Susan Weinstock is AARP’s VP of Financial Resiliency. That's it for today's show. If you liked this episode, please let us know by emailing us at [email protected]. Thanks to our news team producers, Colby Nelson and Danny Alarcon. Production assistant, Anita Fagbamila. Engineer, Julio Gonzales. Executive producer, Jason Young, and my co-hosts Mike Ellison and Wilma Consul. Become a subscriber on Spotify, Apple Podcast, Stitcher or other apps. And be sure to rate our show as well. For an AARP Take on Today, I'm Bob Edwards. Thank you for listening. A report from the Bureau of Labor Statistics shows that the number of job openings in the U.S. was over 10 million at the end of 2021. Some are calling this trend the Great Resignation. And some are thinking about it differently. We caught up with AARP Vice President of Financial Resiliency Susan Weinstock to discuss how exactly older workers fit in and what they can do to improve their chances in the job market. Subscribe:
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