AARP International

How and Why Modern Employers Should Embrace Longevity

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  • About LLEL

    Join AARP, the World Economic Forum, OECD and  50 employers in a learning collaborative to identify and share multigenerational, inclusive workforce practices.

    Trends and Opportunities
    As people live longer, healthier lives, many will want or need to work longer. Longevity thus presents an opportunity and responsibility for governments, employers, and people of all ages to reimagine what it means to earn and learn over a lifetime. This initiative seeks to engage 50 employers in a learning collaborative to identify and share multigenerational, inclusive workforce practices.


    Action to be Taken
    Although governments can and should support the development of multigenerational, inclusive workforces, employers are best positioned to lead the charge.

    Success will benefit the economy, businesses and employee growth and satisfaction. To do so, it is essential that employers:
    Ensure individuals remain employable throughout their lives with continued education and training,
    Enforce policies that prevent age discrimination, and adopt age-inclusive policies, and
    Provide opportunities for workers to remain and grow on the job.

    Project Objectives
    The World Economic Forum, AARP, and partner organizations agree to share existing resources and, where knowledge gaps exist, collaborate on new research to help employers build, support and sustain multigenerational workforces.

     


    Three dimensions have been identified by which to examine inclusive employment:

    Create: How does corporate culture and climate affect the quality of employment for all generations? Be it through access to meaningful work, a culture of respect, inclusion, and equity, or employment security and predictability.

    Invest: What are the standards, policies, and practices to support a well-functioning multigenerational workforce? Important areas include recruitment, assessment and retention
    practices, compensation and benefits, lifelong learning, health and wellness benefits, caregiving services, physicality of the workspace and options for phased retirement.

    Prosper
    :
    How can employers and employees translate a more age-friendly environment into business and personal growth? Employers who can retain market-valued intellectual capital, raise stability and engagement of highly skilled employees and deliver products and services designed by a representative workforce stand to benefit. Employees with access to resources revitalizing skills can lead to greater personal financial security and self-fulfillment.

     

    Timeline

    This initiative will be conducted in three phases:
    I.) Launch and Partnerships;
    II.) Study and Consensus; and
    III.) Release and Promote. In addition to conducting extensive desk research, a series of regional workshops between summer 2019 and fall 2019 will convene a diverse set of international thought leaders to engage in dialogue, share existing resources, highlight meaningful case studies, and consider business rationales and incentives for employers to support a multi-generational, inclusive workforce.

    This work will culminate in a digital learning platform, to be launched at the 2021 World Economic Forum Annual Meeting in Davos, Switzerland. This interactive will serve as a guide for employers on the policies, practices, and business cases for supporting an age-diverse workforce.

    Calendar of Events
    July 30, 2019 (North America – New York City)
    Regional Executive Workforce Roundtable

    September 17, 2019 (Asia – Singapore)
    Regional Executive Workforce Roundtable

    October 4, 2019 (Europe – Paris)
    Regional Executive Workforce Roundtable

    Read Insights from the three roundtables

    Partnering Organizations
    Aegon
    AIG
    Allianz
    Amgen
    AmeriTrade
    Aviva
    Bank of America
    BlackRock
    Generali
    Guardian Life
    HBSC
    Home Instead
    Invesco
    Investec
    Manulife
    Mercer
    Old Mutual
    PZU
    Standard & Poor’s Global
    The Hartford 

    Knowledge Partners
    Canadian Association of Retired Persons (CARP)
    Center for the Future of Aging, Milken Institute
    Global Financial Literacy Excellence Center (George Washington University School of Business)
    Mailman School of Public Health (Columbia University)
    Sau Po Centre on Ageing (The University of Hong Kong)
    Stanford Center on Longevity (Stanford University)
    Wise at Work (Hong Kong) 

  • Webinar Series
  • Newsletter

    Living, Learning, Earning Longer Collaborative Newsletter – September 16, 2019

    View this email in your browser
    Today's Newsletter
    1. Executive Update
    2. Upcoming Events
    3. Data You Can Use
    4. AARP Insights
    5. Featured Promising Practice 
    6. Multigenerational Workforce News
    7. Relevant Resources & Reports 
    8. Join Us! 
    9. Demonstrate Your Commitment to Experienced Workers
    Dear Executives  - 

    I am so pleased to share with you our first monthly newsletter as part of the Living, Learning, & Earning Longer Collaborative. I hope this series will spark valuable conversations. 
    I hope this will become a useful way for you to learn more about the work of the Learning Collaborative and related age diversity issues. This newsletter will provide monthly updates about the Learning Collaborative, insights and featured research on age-inclusive workforce practices, case studies and promising practices from Learning Collaborative members, and reminders about upcoming events. 
     
    Our June Global Summit was a great success and helped recruit new members of the Learning Collaborative, bringing the number of members to 20 companies. You can see highlights from the summit here. We’ve also kicked off our international executive roundtable series, starting in North America in New York City. We look forward to Mercer Consulting hosting our Asia roundtable in Singapore this month. Additionally, the Learning Collaborative effort was featured in a column by Jo Ann Jenkins in the AARP Bulletin this month. The Bulletin is one of two AARP publications, with a larger distribution in the U.S. than any other publication.

    I look forward to continuing our work together. 

    Best,
     


    Debra Whitman 
    Executive Vice President and Chief Public Policy Officer
    AARP

    LinkedIn@policydeb
    • September 25, 2019 at 11:00 AM (EDT): Join us for the kickoff webinar of the Learning Collaborative. During the webinar top executives from AARP, WEF, and OECD will discuss why a multigenerational workforce is good for business. Learn more and register
    • October 3-4, 2019: LLEL Executive Regional Roundtable in Europe hosted by OECD. For more information please contact Jeffrey Gullo at AARP.
    • October 23, 2019 at 11:00 AM (EDT): Peer Learning Conference Call: An exclusive opportunity for members of the Learning Collaborative. Join the Collaborative!
    Why a Multigenerational Workforce is Becoming a Business Priority
    By Ramsey Alwin, Director, Thought Leadership - Financial Resilience, AARP
    @ElderNomics
    Over the past two decades, globally the number of workers over 65 has more than doubled. As both life expectancy and health quality continue to increase, the traditional set retirement age no longer makes sense for most working individuals.
    Older workers might find they need to work longer to increase their financial security or that they want to continue to use their skills and do meaningful work. At the same time, many industries are facing a skills shortage, struggling to find qualified workers. Companies are finding innovative ways to make it easier for older workers, with years of experience and wisdom, to remain a part of their workforce.

    Together with employers, policymakers have a key role to play in helping all workers reskill and in supporting workplaces in adapting lifelong learning approaches to plan for longer, non-linear careers. Putting human beings at the center of workforce and workplace policy ensures quality of work and quality of life for employees, which in turn boosts businesses’ bottom lines.

    Indeed, companies that have already started to implement more age-inclusive policies have found that age-diverse teams have contributed to greater innovation and productivity in the workplace. Embracing the spirit of multigenerational teams helps companies combine the institutional knowledge, experience, stability, and mentorship that older workers may have to offer with the idealism, creativity, tech savviness, and knowledge of current trends that many younger workers contribute.
    Bank of America has instituted a broad, enterprise-wide initiative on diversity and inclusion that includes a focus on age-inclusivity. The firm has developed an on-demand training program that includes training on topics such as the business case for diversity, inclusion success factors, and unconscious bias awareness and assessment.

    The enterprise also has several employee networks, including their Intergenerational Employee Network and Parents and Caregivers Network, where employees can gain knowledge and support across common interests and goals.

    They also repurposed all of the benefits that are offered to new parents to offer similar ones to caregivers. These benefits make it easier for employees, especially those who are older and may be caring for an aging parent or spouse, to manage their caregiving responsibilities without having to retire sooner than planned, change work arrangements from full-time to part-time, or experience a decrease in productivity or job satisfaction. To learn more, please contact Cynthia Hutchins at Bank of America Merrill Lynch.
    • The New Social Contract: Empowering individuals in a transitioning world, AEGON. The New Social Contract: Empowering individuals in a transitioning world” is based on the eighth annual Aegon Retirement Readiness survey of 14,400 workers and 1,600 retired people across 15 countries spanning Europe, the Americas, Asia, and Australia. It builds on last year's “The New Social Contract: A blueprint for retirement in the 21st century,” which calls for the modernization of existing retirement systems.
    • Working Better With Age, OECD. "People today are living longer than ever before, but what is a boon for individuals can be challenging for societies." Read this recent report from OECD that identifies policy recommendations and best practices to foster employability, labor demand, and incentives to work at an older age.
    • Five-Generation Workplace, From Baby Boomers to Generation Z, OECD. “How do we as societies start contemplating the ‘100-year life’?” Look back at the OECD Forum 2017 session for insight on how companies are embracing a multigenerational workforce.
    Join AARP, the World Economic Forum, OECD and 50 employers in a Living, Learning & Earning Longer Collaborative to identify and share multigenerational, inclusive workforce practices. To formally join the Learning Collaborative, contact Alexandra Durbak at World Economic Forum.
    The AARP Employer Pledge Program is a nationwide group of employers that stand with AARP in affirming the value of experienced workers and are committed to developing diverse organizations. Employers who sign the Pledge agree that they:
    • Recognize the value of experienced workers
    • Have immediate hiring needs
    Demonstrate your organization’s commitment by signing the AARP Employer Pledge:
     
    “We believe in equal opportunity for all workers, regardless of age, and that 50+ workers should have a level playing field in their ability to compete for and obtain jobs. Recognizing the value of experienced workers, we pledge to recruit across diverse age groups and to consider all applicants on an equal basis as we hire for positions within our organization.”
    Sign the Pledge!
    Copyright © 2019 Public Private Strategies, All rights reserved.


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Contact for more information

Jeffrey Gullo, AARP

jgullo@aarp.org 

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