What do we do when the Boomers Exit? How do we keep the knowledge base? Simple techniques to turn this into a positive.

1. Talent, Engagement
and the Aging Workforce
Chris Hylton, MA
Conference Board
of Canada
Calgary
April 29 2013, 1:45 pm

2. Agenda
 complexities of dealing with an aging
workforce
 strategies to address some common
challenges
 mentorship and succession
 innovative approach to mentorship
and keeping retirees engaged with the
organization after they have left
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3. This is your show
 Do you have any issues that you wish
to share regarding our topic today?
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4. Retirement has changed
 Organizations will feel impact of baby
boom retirement wave, just not hit yet
 This Wave is both a benefit and a
problem
 Employers need talent, skills,
knowledge, experience
 Boomers need engagement, income,
flexibility and being valued
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5. Not your fathers retirement
 60 or 65 and out
 Full pension or early pension
 With a life expectancy of 2 – 5 years
 WHY
 Another 10, 20, 30 or 40 years of life
 Switch from DB to DC pensions
means less income
 Just another stage of life
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6. Boomer Fears
 Unpredictability of their finances
 Downturn was a wake up call
 Fear outliving their money
 Fear more losses
 RSPs have replaced Defined Benefit
plans
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7. 7
Older Workers Need to Work:
Insufficient Savings
0
10
20
30
40
50
1992-93 1996-97 2000 2007
Defined Contribution Defined Benefit
PercentageofWorkers
Source: U.S. Bureau of Labor Statistics CG Hylton

8. What boomers want
 To be valued, engaged, part of
something
 To work for an employer that permits
them to create a flex schedule
 Renewed rejuvenated
 Active growing and learning
 Free time, flex time
 Extended time off
 Consulting work
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9. Phyllis
Diller
Whatever you may look like, marry a
man your own age - as your beauty
fades, so will his eyesight
I’m at an age when my back goes out
more than I do
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10. What boomers offer
 As productive or more productive
 Cost the same
 Superior communication skills
 Less likely to leave the job after short
time
 Lower training costs
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11. Mature worker edge
 Communications: writing and speaking
in english, reading comprehension,
foreign languages
 Technical skills: computer, engineering,
mechanical
 Maths and science
 Social sciences: government,
economics, history, geography, arts,
humanities
Source: SHRM/AARP 2012 Survey
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12. Edge in Applied Skills
 Professionalism: Work ethic,
responsibility, social responsibility
 Thinking ability: critical thinking,
problem-solving, judgment,
creativity/innovation, information
technology application
 Working in Teams: Teamwork,
collaboration, leadership
 Learning: commitment to lifelong
learning, self direction
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13. Industries impacted by age
 Agriculture 47.1 years old
 Transportation 45.8
 Utilities 46.2
 Real Estate 46.5
 Education 44.5
 Healthcare 43
 Pub Admin 44.9
 Retail 38
 Leisure and Hospitality 31.2
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14. What are companies doing?
 Succession plans (38%)
 Processes to capture institutional
memory/organizational knowledge
(17%)
 Create new roles specifically designed
to bridge knowledge gap (9%)
 Adapt workplace to accommodate older
workers (9%)
Source: SHRM/AARP 2012 Survey
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Source: Deloitte MassCareerCustomization_051310.pdf

17. Case Studies
 Career Lattice Program
 Ees can dial up, down, across career
path
 Flexibility in ways to work
 Custom when, where, how
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18.  Best Companies for Multicultural
Women, Working Mother, 2012
 100 Best Companies to Work
For, Fortune, 2010
 Best Places to Work for LGBT
Equality, Human Rights Campaign, 2010
 Best Companies to Work for in Texas
(Large), Best Companies Group, 2010
 Employees’ Choice -50 Best Places to
Work, Glassdoor, 2009
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19.  AARP list of ‘Best Employer for
Workers over 50
 On-site medical center, wellness,
fitness & recreation programs
 On-site education program
 Paid sabbaticals to experienced
employees
 Comprehensive financial / ee benefits
 Retirement planning tools
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Source: SHRM/AARP 2012 Survey

20. A gradual retirement -
Weyerhaeuser
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 new delayed-retirement project, called
Gray Matters, is grounded in research
about the attitudes of its employees age
55 and over.
 The vast majority say they want to work
longer rather than completely retire.
 But they want it all — a flexible schedule,
health-care benefits and no negative
financial impact
 And they want the work to be meaningful.

21. A gradual retirement
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 Gray Matters offers select ees opportunity to retire
gradually, but they must average 25 hours of work
a week in order to keep health benefits. The part-
time work also shouldn't go on for too many years or
it could negatively impact their pension.
 they're expected to create a plan to transfer
knowledge and mentor younger workers.
 The company also is participating in a talent bank,
to be run by an outside firm, that will offer retirees
a chance to work on a temporary basis. "What we
all want as employers is the best talent we can
have," said Hass, retirement educator at
Weyerhaeuser. "And what we ought to recognize is
that the best talent can come at any age."

22. Generations
 Intergenerational issues—Managers
may resent working for younger or
older bosses or have conflicts with
differing value systems and work
ethics in workers of different
generations
 Anyone experiencing this in their
workplace?
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23. Recruiting
 Employers need to reach out to older
workers and other nontraditional
market segments as a means of meet
their staffing needs
 Anyone experiencing this in their
workplace?
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24. Staff Retraining
 As technology in the workplace
changes, and as organizations must
change to meet increased productivity
and efficiency demands, employees of
all ages will need retraining to remain
competitive in today’s workplace
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25. Mentoring re Technology
 Older employees may
need assistance in
understanding technology,
and may benefit from
being paired with younger
cohorts
 Anyone experiencing this
in their workplace?
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26. Overqualified Job Seekers
 Some candidates will have strong
backgrounds that may make them
appear to be ―overqualified,‖ but
employers who toss these applicants
aside without asking the right
questions risk eliminating excellent
candidates and/or an age
discrimination suit.
 Anyone experiencing this in their
workplace?
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27. Retirement Planning - Options
 As employees age, they need
information about their retirement
options, including work options such
as rehearsal or phased retirement.
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28. Staff Retention
 Always been a focus of employers
 Keeping valuable employees will
become an even more important issue
as employers deal with worker
shortages and knowledge transfer gap
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29. Flex time
 Workers of all ages are looking for
ways to balance work and life
obligations. Many older workers are
members of the ―sandwich‖ generation
and must provide care for parents and
children, and even grandparents and
grandchildren
 Anyone experiencing this in their
workplace?
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30. Mentoring
 Employers paying attention to how to
capture the boomers business wisdom
 Mentoring is attracting attention
 In the past, the role of the mentor has
been informal
 Now however, companies are
formalizing the practice
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31. Mentoring to Offset Knowledge
Loss
 Older workers are formally assigned to
younger workers who have potential in
a specific area of expertise, with the
goal of developing these individuals
along career paths that make sense
and leveraging the mentoring
relationship to transfer business
wisdom, which goes beyond know-
how to know-why.
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32. Mentoring becomes part of
performance review
 Some employers are tasking their
older employees with specific
mentoring and wisdom transfer goals
that they are becoming part of the
performance review
 Others are implementing job
sharing, where a junior person shares
a job with someone senior
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33. The Retiree as Consultant
 Another approach is to bring retirees
back in consultancy role
 Allows individual to retire when he or
she chooses, yet extends the duration
for transferring knowledge and
wisdom to other staff
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34. More formality re mentoring
 Whether a company takes a more or
less aggressive approach, informal
arrangements may not be enough and
more formal knowledge capture plans
may represent the only way a
company can capture wisdom and
keep it in the organization
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35. Compensation customization
 Lends itself to tailoring as it can be
determined on a selective basis
 Making it a more attractive vehicle for
addressing aging workforce issues than
broad-based retirement or health and
welfare plans whose changes have to
be more universal
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36. Benefits pensions paradox
 How times change
 Anyone remember freedom 55?
 Early retirement incentives designed
to attract boomers when they were
young up and coming executives
 Employers are revising their policies to
remove the reverse incentives
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37. Solutions: study your situation
 current demographics and how the
aging trend will impact your workforce
 identify and track the number of
people expected to retire in a given
time period and where they are in the
organization.
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38. Adapting the workplace
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 Falls are the leading cause
of hospitalization due to injury for
Canadians 65+
 one in three expected to experience
this life altering moment this year alone
 offices with flexi-floors, when those falls
do occur, special new ―bouncy floors‖
could reduce the risk of serious injury

39. Smart Canes
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 Another invention called Smart Canes,
will allow real-time feedback on proper
gait and alert a worker’s colleagues
by text if a fall occurs.
 ―It’s a floor that’s compliant enough to
prevent injury in case of a fall, but hard
enough that you can do normal activities
on it,‖ noted Feldman.
 Initial tests show that it could reduce hip
fractures up to 80 per cent.

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The Work Environment
 The spaces where we
work affect how we age
 We have control over
how workplaces are
designed
 Work environment issues
are aging issues
◦ Physical demands of work
◦ Lighting and vision
◦ Cognitive demands of work
 We can design age
friendly workplaces
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41. ERGONOMIC PROBLEM-
SOLVING STRATEGIES
 Seated work with larger parts involves interacting
with objects that may be too large to manipulate
manually, associated with assembly & welding
jobs.
 Problems are typically related to posture,
illumination, reach, and lifting
 Use technology to lift & position the
work for easy access that does not require
bending, twisting & reaching.
 Use supplemental lighting.
 Use adjustable chairs/work surfaces

42. Air bags
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 Workers will also have the option of
of wearing a belt with built-in
air bags that will deploy when the
sensor detects a fall
 Those with balance problems could
wear them as part of their regular
office wear

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44. Our Services
HR and Benefits Consulting
Employee Assistance Plan
Workshops, lunch and learns
800.449.5866
email info@hylton.ca

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Call for a complementary
consultation
CG Hylton Inc.
800.449.5866
info@hylton.ca

46. You know you’re old if they have
discontinued your blood type, your
walker has an airbag and people
compliment you on your alligator shoes
Only thing is you are barefoot
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