What do you think about the amount of global outsourcing that is going on in America?
As a basic premise, globalization is good for all nations. In absolute terms, it will continue to accelerate. It is in figuring out what jobs to export (and when) that there is a challenge. For example, let us not fool ourselves into thinking that creativity and innovation are the birthright of Americans and that we need only export “left-brain” types of jobs. There are smart, and better-educated, people around the globe in countries like China and India where their investment in higher education (especially math and science) is outdistancing ours. I believe that “free agency” in the U.S. will level some of the playing field – especially when we tap into the mature workers’ experience. In this small amount of space, it is impossible to give this question the full answer it deserves so I am going to refer you to a book – The World is Flat – by Thomas Friedman. This is a must read if you want to increase your knowledge and help career-proof your own work life from either global outsourcing or technology solutions that will otherwise grab your career right out from under you.
If leaders understand the risks of global outsourcing to American business, why are they are still outsourcing?
All firms will continue to outsource to make and save money. Period. The best of these firms outsource to leverage what is best done in different places. Make no mistake - businesses will take care of themselves now or they won’t be in business in the future. Here is their message for your benefit. You’re a business now – grow your business by learning to play by the new rules of the game in this changed world.
Are firms prioritizing mature worker retention?
Almost a third (31%) of U.S. employers haven't thought about retaining older workers approaching retirement, according to a new Merrill Lynch poll of 5,111 adults and 1,000 companies. Others are more ready for a baby boomer drain, with 27% in the midst of preparations and 17% starting to prepare. Roughly 45% have assessed the priorities of older workers, and 38% have identified strategies to retain older workers.
From an economic perspective, why should mature workers continue to work longer than in the past?
Full-out retirement will drain America of intellectual capital. Economic growth will slow if we do not continue to “consume.” And, a recent Federal Reserve study confirms the S-AGE’s opinion that boomer retirements will impede growth, raise wages and increase interest rates.
Financial planners are increasing their efforts to help people generate income for retirement. What do you think about the results of these early efforts?
Good idea but too little too late for many debt-ridden older Boomers who haven’t saved. For these folks, continuing to work will be a financial necessity. Add structured, strategic career planning to the financial planning mix and they will have the best opportunity to create a secure future. Those who haven’t saved, and haven’t planned for working longer, will barely endure the increasingly expensive cost-of-living in most American communities. Many of these folks will resort, of necessity, to working in the world of McJobs.
Other than financial need, why should people work in so-called retirement years?
There is hard evidence that working (in some capacity) ensures that people stay mentally active and socially relevant during their longer lifetimes. Cycling in and out of work is one way to do this. Temping, working part-time, or specializing, offer additional alternatives for mature citizens. A recent Harvard study showed social and productive activity, such as volunteering, lowers the risk of all causes of death as much as exercise.
Who will have the best opportunity to work – older?
The highly skilled workers where and when brainpower is needed. Those who “strategically plan” to work older by understanding their competencies, updating their skills, studying the new job market and aligning their interests with marketplace needs.
