The demographic trend is no secret: the populations of the United States and other major industrial countries are getting older, and faster. That means workforces are aging too. Companies nationwide are facing a looming exodus of retiring employees. The statistics are eye-opening:
Combine these statistics with the growing skills shortage—Department of Labor research shows that employers couldn’t find enough talent in 2018 to fill 6 million open jobs—and you have a perfect talent storm. Some forward-thinking organizations are recognizing the benefits that older workers bring to the workforce and are navigating these choppy waters by exploring flexible career options and new career paths for mature workers.
Hiring mature workers makes good business sense for many companies. These workers strengthen diversity and demonstrate loyalty to the firm, they are emotionally resilient, and they display a strong work ethic and desire to contribute. Many people will face a financial need to continue working past normal retirement age and are motivated to stay engaged and productive. And companies can more effectively plan for the transfer of organization-specific knowledge by hiring and retaining mature workers, who can serve as mentors to less experienced employees. A true win-win and excellent model for the increasingly “blended” workforce that exists today.
Unfortunately, many organizations have had a short-term mindset and lack of urgency in assessing and planning for an aging workforce. Employers need to consider what will happen when a significant portion of their employees opt for retirement. Several workforce planning strategies are key to develop an effective game plan:
The concern about the drain of human capital and organizational knowledge is real and will only grow over the coming years. Companies are beginning to recognize that being “age smart” is just a good business practice, and that hiring mature workers is a sound investment which contributes to the overall well-being of the organization.
For a glimpse into the future, look at the “Age Smart Employer Award” program, a project of Columbia University’s Robert N. Butler Columbia Aging Center at the Mailman School of Public Health. Now in its fourth year, the program calls attention to the specific policies and practices that employers are using to recruit, engage, and retrain workforces of all ages, including older workers. The award-winning companies are demonstrating that a blended, multi-generational workforce, leveraging the many contributions of mature workers, is truly the ticket to superior organization culture and performance.
Rob Croner
Vice President, Senior Executive Services
CCI Consulting
Lorraine Webb is a human resources and organization development executive with significant experience in the energy and utility markets.
Currently, Ms. Webb is Vice President of Human Resources and Organizational Development for Philadelphia Gas Works (PGW) and is responsible for all human resources and organizational development functions including compensation, benefits, recruiting, talent management, wellness, EEO, EAP, HRIS systems, learning and development.
Ms. Webb and her team have played a pivotal role of building a talent management program and succession planning process in the face of exiting baby boomers, while effectively managing significant challenges in terms of internal and external constraints.
Recently, Ms. Webb and her team were awarded the inaugural 2019 Employer of Choice award by the Office of Workforce Development, City of Philadelphia. This award recognizes exemplary HR practices.
Further, under her leadership PGW won the HR Department of the Year Award in
2011 and has been cited on numerous occasions as a Best Places to Work for
Minorities and Women in Engineering by Diversity Magazine.
Ms. Webb was an honoree for Philadelphia Leadership Awards for Women’s E News, 2010
Adding to her experience in the energy/utility arena, Ms. Webb has worked as an HR professional in the pharmaceutical industry, manufacturing and banking. Ms. Webb is passionate about coaching and enjoys helping professionals and executives reach their full potential.
Ms. Webb is a graduate of Binghamton University and is a member of SHRM.
Tom Sontag is the Executive Director, Human Resources at the University of Pennsylvania. In this role, he is responsible for the Learning & Education, HR Communications, Quality of Work Life, and Tuition Benefits functions. Collectively, these provide Tom with the opportunity to pursue his passion for talent development and workforce effectiveness.
Tom has worked at Penn since October 2011 and has nearly 35 years of experience in training and organizational development with large organizations. Before joining Penn’s Division of Human Resources, Tom held training and organizational effectiveness roles for organizations such as Development Dimensions International (DDI), PNC Financial Services Group, Citizens Bank, Drexel University, NRG Energy, and Covance. He earned a BA in English literature from John Carroll University, an MBA with a focus on human resources and leadership development from Duquesne University, and a Ph.D. in educational leadership from Drexel University. Additionally, he has earned the SPHR and SHRM-SCP certifications.
Peggy Verdi is a dynamic Human Resources executive with nearly 35 years of experience in HR strategy, change management, organizational design, executive coaching, team effectiveness, and talent assessment, development and management.
Peggy currently holds the position of Vice President, Human Resources and Administration (CHRO) at Subaru of America, Inc., overseeing all aspects of human resources and corporate facilities & services, its practices, and operations in order to meet the needs of the constantly evolving business.
Prior to joining Subaru, Peggy served as Chief Human Resources Officer at BAYADA Home Health Care and as Executive Director, Human Resources Business Partner/Change Planning at Bristol–Myers Squibb, a leading manufacturer of pharmaceuticals and biologics.
Peggy received a Bachelor of Arts in Liberal Studies with a focus on Labor Relations and a Master of Arts in Human Resource Management from Rutgers University.
Elizabeth Quarello (SPHR, SHRM-SCP) is an energetic senior HR leader with over 16 years of diverse experience in fast-paced corporate settings across a variety of industries, including management consulting, architecture, media, and biotechnology and pharmaceuticals. She is a hands-on leader and influencer with a passion for driving organizational change to create positive working cultures that enable organizations and individuals to realize their full potential.
Elizabeth is currently the Senior Director of Human Resources and Operations for Avid Radiopharmaceuticals, a wholly-owned subsidiary of Eli Lilly & Company. In this role, she is responsible for oversight of all HR functions, serves as a key senior leadership member, and oversees operational functions including HSE, compliance, contract administration, facilities management and administration.
Mike Higgins is a seasoned Human Resources leader with over 20 years’ experience in leadership development, employee/labor relations, performance consulting and executive coaching programs in the Retail, Financial Services and Healthcare industries.
In his current role as the Senior Director of Strategic Talent Management & Learning at The Children’s Hospital of Philadelphia, Mike leads enterprise-wide talent management activities, including leadership, professional skills, career and organizational development, succession planning, performance management and employee engagement for the Hospital’s 15,000 employees.
Mike holds a Bachelor’s degree in Secondary Education from LaSalle University, and a Master’s degree in Education (Corporate Education/Instructional Systems Design) from Pennsylvania State University.