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Boomers on the Doorstep: The New Face of Work and Service Judy Goggin Civic Ventures May 3, 2007 Connecticut Commission on Aging
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2 A Demographic Revolution Is Underway The “Floridization” Of America
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3 A RETIREMENT STORY How others see us Still Dr. Bill Schwartz
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4 January 2006 & Counting…. 8,000 Baby Boomers turn 60 every day
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Is this the work of America’s future?
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6 Our Answer: “ We have the chance to create a society that refuses to squander the most experienced quarter of the population” Marc Freedman Civic Ventures
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7 We’ve created a new life stage once every century
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8 A new life stage is emerging
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9 What Boomers Tell Us They Want Catch my breath Tackle new challenges Pursue deferred dreams Work on my own terms Find meaningful roles
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10 Baby Boomer Volunteer Plans 71% plan to volunteer Why? Desire to help people 67% Feeling connected with community 56% Have more time 48% However 7 out of 10 report dissatisfaction with volunteer experience
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11 Baby Boomer Work Plans 70% plan to work Why? Connection with people 59% Sense of purpose 57% Additional income 52%
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12 Baby Boomer Work Plans Want work that improves quality of life in community 48% However 48% feel it will be very difficult to find “good work”
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Traditional systems of pensions, Social Security and health coverage are collapsing Leading-edge boomers want to work and need to work Shortages of skills and talents are driving demand for experienced workers ‘Giving back’ is a major motivator as people seek meaning, purpose, connection and change Fundamental Trends
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Finding Work that Matters in the Second Half of Life Introducing: The Encore Career June 11
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…focus on work with a social purpose …follow after one’s earlier work life (including work in the home) …are compensated in traditional or non-traditional forms …last long enough to produce a significant body of work Encore Careers….
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…build on experience and warrant investment in education and training …have flexible work arrangements …are purposefully chosen after a period of reflection and exploration. Encore Careers…
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…a coherent set of work experiences …social impact …Individual fulfillment and renewal …new approaches to social challenges. Encore Career produce….
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18 What does all this mean? Nothing less than……… Create pathways to encore careers Restructure the workforce system Design new recruitment and retention strategies
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19 Confronting Ageism
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20 Start Here: Reframe the Picture Are these people paid or volunteer? Does it matter?
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21 Restructure Workforce System Create a workforce of highly skilled workers for the future best able to fulfill your mission
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22 Redesign: Recruitment, Retention & Roles A range of options Tapping experience New roles Alternative compensation
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23 What It Will Take Flexibility Opportunities to learn Opportunities to lead Experience used well New roles, new forms of compensation
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24 Studies & Reports about Boomers AARP Boston College Center on Work and Aging Bureau of Labor Statistics Civic Ventures Harvard School of Public Health Conference Board National Council on Aging Financial Services: DeLoitte, Merrill Lynch, MetLife, Prudential, Putnam Society of Human Resources Management
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25 a think tank and incubator generating ideas and inventing programs to help society achieve the greatest return on experience www.civicventures.org
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26 Projects Experience Corps The Purpose Prize The BreakThrough Awards Community College Encore Career Grants www.civicventures.org
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27 Resources The New Face of Work – CV/MetLife Study Boomers’ Guide to Good Work Encore Prime Time www.civicventures.org
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28 www.civicventures.org www.leadwithexperience.org www.experiencecorps.org Judy Goggin Senior VP, Civic Ventures (617) 522-1587 jgoggin@civicventures.org
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29 Source: Adler and Goggin, What is Civic Engagement? adapted from David Crowley, Social Capital, Inc
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30 Source: Blueprint for the Next Chapter, Civic Ventures, 2005
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