1. Change format so we can have

2. 2 Workforce Planning Survey Are firms prepared for the boomer exodus from the workforce?

3. 3 Census 06  13.5% of employees are 55+  20% in less than 10 years

4. 4 The Questions  How do other organizations perceive the threat?  What are they doing and not doing about it?  What do employers think about working beyond retirement?  And what are organizations doing to become older employee friendly?

5. 5 Workforce Planning Survey 2008: Workers Nearing Retirement Claude Balthazard, Ph.D., CHRP Director, HR Excellence and Acting Registrar Human Resources Professionals Association

6. 6   Workers nearing retirement is a talent management challenge   Not only a numbers game but a loss of experience and organizational knowledge   So what are we doing about it?

7. 7   Online survey of HRPA members   627 respondents   Broad cross-section of organizations

8. 8 0%40%30%20%10%60%50% 0%40%30%20%10%60%50% 2.4% 7.7% 14.2% 24.2% More than 40% 30%-39% 20%-29% 10%-19% Less than 10% Don’t know 45.5% 6.1% What proportion of your workforce is within 5 years of retirement?

9. 9 0%40%30%20%10%60%50% 0%40%30%20%10%60%50% 4.9% 37.6% 2.4% 55.0% Yes, a big threat Yes, somewhat of a threat No, not really Don’t know Does this level of retirement within the next 5 years present a threat to your organization’s ability to meet its business objectives?

10. 10 0%40%30%20%10%60%50% 0%40%30%20%10%60%50% 2.1% 12.1% 23.0% 59.8% Really on top of this issue Well prepared Somewhat prepared Totally unprepared How well prepared is your organization for the coming talent shortage? Poorly prepared 3.0%

11. 11 0%40%30%20%10%60%50% 0%40%30%20%10%60%50% 1.3% 14.9% 27.9% 42.1% Among our top priorities Quite important Thinking about it Not on our radar screen How interested is your organization in retaining older workers? Hasn’t generated much interest 13.8%

12. 12 0%40%30%20%10%60%50% 0%40%30%20%10%60%50% 18.6% 36.5% 12.8% 29.6% Definitely yes Probably yes Not sure, it depends Definitely not Would you say that your organization is a good place to work for older employees? Probably not 2.4%

13. 13 0%40%30%20%10%60%50% 0%40%30%20%10%60%50% 18.6% 58.1% 22.0% Usually Sometimes Rarely In your experience, have you found that employees entering retirement have a clear plan of what they will do with their time during their retirement years?

14. 14 0%40%30%20%10%60%50% 0%40%30%20%10%60%50% 79.7% 61.4% 44.2% 29.2% Individual coaching Internal workshops External workshops Books Web-based content Webcasts 15.8% What elements would you say are most desirable in a pre- retirement offering? 80%70% 80%70% 28.2%

15. 15 Practice Yes we offer this Thinking about it Invite retirees to company social events 48.30%16.70% Provide older employees with assistance with retirement planning? 39.40%29.70% Re-hire recent retirees as consultants? 38.60%21.20% Provide older employees with assistance with financial planning? 34.60%26.30% Provide flexitime arrangements or reduced work schedules for older employees? 34.10%28.50% Please indicate if your organization has implemented or is thinking about implementing these practices.

16. 16 Practice Yes we offer this Thinking about it Actively recruit new workers aged 50+? 28.40%17.40% Provide paid health benefits for retirees 27.00%10.50% Phased-in retirement (e.g. part-time before leaving)? 26.60%37.00% A formal program to enable the transfer of knowledge from employees that are about to retire to other employees? 19.00%55.70% Counts previous work experience at other employers towards annual paid vacation allowance? 16.40%14.70% Provide ‘retirement lifestyle coaching’ to older employees 15.80%25.40% Please indicate if your organization has implemented or is thinking about implementing these practices.

17. 17 Practice Yes we offer this Thinking about it Provide older workers with paid or unpaid sabbaticals or retirement rehearsals 15.30%13.90% Allow older employees to tailor their benefits packages in ways that more closely meets their needs? 10.00%19.00% Offer retraining opportunities to older employees 9.30%17.70% Programs specifically designed to assist older workers? 7.20%34.00% Offer programs such as ‘retirement rehearsal’ 2.10%9.90% Please indicate if your organization has implemented or is thinking about implementing these practices.

18. 18   Human Resources professionals are aware of the issue   Many organizations are not feeling the pain quite yet   We are not proactively managing the issue

19. 19 Workforce Planning Survey Are firms prepared for the boomer exodus from the workforce?

20. 20 The way we see it 1. It takes time to get it right 2. Fewer young people = fewer recruits 3. Tough times require sound strategies

21. 21 LNS Survey, September 08  59.1% want to continue working part-time in retirement  53.5% say company not supportive of retirees continuing part-time  30.1% have developed a lifestyle plan  64% say it would be helpful to have assistance in retirement lifestyle planning  80.9% would take advantage of retirement lifestyle planning assistance at work  Only 5.9% of employers offer lifestyle planning

22. 22 Employers Employees

23. 23 City of Toronto  Fewer recruits  Worsening skill shortages  Aging workforce  Significant knowledge and skill losses

24. 24

25. 25 Part of the solution for -  The employees that you want to keep.  And the employees you want to leave.

26. 26 Workforce Planning Survey Are you prepared for the boomer exodus from the workforce?

27. Thank you