Healthier People, Healthier Organizations
Maximizing Productivity ... Age Matters
by Dr. Barney Spivack, LifeCare Medical Director

As May is Older Americans Month, we salute the values, contributions, and importance of this most rapidly growing population segment of our society. This is also an ideal time to recognize the impact of older adults on the workplace.

As we know, the age of the workforce is increasing. In 1992 the median age of the labor force was 36.6 years and by 2012 it’s projected to rise to 41.4 years. In fact, older adults are expected to account for the most significant increase in labor force participation rates. These demographic trends reflect the impact of the Baby Boomers (born between 1946 and 1964), and many of this generational group have indicated that they will be postponing retirement. Rather than “disengaging” from the workforce, many older adults are interested in remaining active, involved, and productive and in finding ways to contribute value to our society and culture.

Employers who wish to benefit from a better understanding of how to maximize the productivity of their multigenerational workforce should review an interesting study recently released by the MetLife Mature Market Institute, “Engaging the 21st Century Multigenerational Workforce.”

In this study, engagement refers to the goal of having a workforce that does more than just “show up.” It refers to nurturing a workforce that gets the job done with energy and excellence. The major finding from this well-executed research project (conducted through the Sloan Center on Aging and Work at Boston College in 2007-08) is that age matters when it comes to maximizing productivity. Employers must use specific strategies targeted to the different generational groups within their labor force to effectively enhance employee engagement and reap significant productivity benefits.

The study also revealed that older workers, in general, tend to be more engaged than younger workers. In addition, older workers achieve greater engagement when they have more support from their supervisors and when they have a better perception of themselves. The major factors driving engagement among younger workers, in comparison, include workplace flexibility, more satisfaction with training and development, better job security, and gaining a supervisory status.

Most employers are aware that they may lose valuable talent when their older workers leave and are increasingly focused on finding ways to retain them. But many need help in better understanding generational differences and how to promote attitudes and practices that drive engagement among their employee groups. The MetLife study is well worth their attention.

As always, I want to address the topics that are most important to you in this column and the best way to do that is with your input! So please feel free to email me with questions, success stories or comments. I look forward to hearing from you.

Dr. Barney Spivack's medical career spans more than 25 years, with a focus on the care of older adults, chronic disease, and long-term care. Prior to joining LifeCare, he was the Director of Medical Services at Waveny Care Network in New Canaan, Connecticut. Before that, he was Director of Geriatric Medicine at Norwalk and Stamford Hospitals. Dr. Spivack also is active in the American Medical Directors Association and is Founding President of the Connecticut Geriatrics Society.