Indiana: Census Bureau Releases Profile of Older Workers

In a continuation of its partnership with 31 states on a series of reports on workers 55 and older, the Census Bureau has released its report on Indiana, the fourth state to be released in the series. Among the highlights of the report--"The Geographic Distribution and Characteristics of Older Workers in Indiana: 2004":

• of the 92 counties in Indiana, one county--Ohio County--had 20% total 55 or older;
• statewide, 14.4% of workers were 55 and older;
• 90 counties experienced an increase from 2001 to 2004 in the percentage of the county workforce that was 55 and older;
• among industry sectors that employed 100 or more workers 55 and older, educational services had the highest proportion of workers in this age group.

Source: U.S. Census Bureau News Release (October 15, 2007)

Indiana: Employers Unprepared for Aging Workforce

Few Indiana employers are taking concrete steps to manage the transition as the baby boom generation begins to reach retirement age, according to a report published by the Center for Aging & Community at the University of Indianapolis. Even though employers recognize that their workforce is getting older, the survey of over 400 employers showed that many organizations seem unconcerned about the aging of the workforce and are not adapting HR practices to manage the resulting employee turnover.

In Gray Matters: Opportunities & Challenges for Indiana's Aging Workforce, Phase II: A Workplace Conundrum, the Center surveyed employers about their understanding of the ongoing demographic shift, any preparations they are making to deal with the changes, and their perceptions about employee loss and its impact on their operations. It also "onvened an expert panel of business, government and education representatives to discuss trends in the state and national workforce. The panelists agreed that intergenerational issues will have increasing impact in the workplace, and that the ideal employee--regardless of age – will be resilient, intellectually agile and responsive to change, with a broad foundation of knowledge, skills and abilities."

Among other recommendations for workers, employers, policymakers, educators, and trainers, the Center encourages employers to prepare for the future workforce by:

• conducting a skills audit of their organizations to
  determine the core competencies essential for business success now and in the future;
• understanding the skills needed and who possesses them or where there are training needs within the organization;
• developing the agile worker for the new economy, with the ability to move between projects and embrace the changing technologies; and
• educating managers in ways to manage a multi-generational workforce.

In the first part of the study issued in 2006--Gray Matters: Opportunities & Challenges for Indiana's Aging Workforce, Phase I: The Aging Matrix, the Center analyzed nationwide data to assess the level of demographic change in each state and the extent to which older residents were active in the economy and community life.

Source: University of Indianapolis’ Center for Aging & Community News Release (July 9, 2007)

Worries that Aging Workers Will Bring Brain Drain to Indiana

According to a report, whose findings will be shared at the “Managing the 21st Century Workplace: Value and Impact of Older Workers” conference, nearly 29% of Indiana residents will be age 55 or older by 2030, versus 22.4% in 2005. Thus, Chris O'Malley reports, "employers and economic development leaders, already lamenting that 36 percent of Indiana college graduates leave the state after graduation, may now have another 'brain drain' to worry about."

While some economists say fears of a labor shortage are unfounded because of expected productivity gains and other offsetting factors, Barry Spiker, a senior fellow at the University of Indianapolis’ Center for Aging & Community, warned: “We’re facing a crisis that’s just never been seen before in this country, ever.”

The conference will share new statewide data, including the findings of “Gray Matters: Opportunities and Challenges for Indiana’s Aging Workforce,” a report written by former Indiana Economic Development Council President Graham Toft and Nadine Jeserich, now both working at local economic development firm Thomas P. Miller & Associates. According to the report, as older workers leave the work force, Indiana won’t see as much of a brain drain as many other states, however, since only 11% of the state's population 55 or older holds a bachelor’s degree or higher, placing it 46th among all states. In addition, only 16% of that population are in high-skill occupations—placing Indiana 42nd. Finally, Indiana ranks dead last in coaxing older workers back to college.

Source: "Employers brace for age shift" Indianapolis Business Journal (May 15-21, 2006)

Indiana Researcher Discusses Aging Workers

Barry Spiker, senior fellow with
University of Indianapolis Center for Aging & Community, is interviewed about his work studying how older workers are perceived in the workplace and what it means for local and national economies. He surveys Indiana as a whole, as well as specific industries that soon will be affected by baby boomer retirements. Spiker's recommendations for capturing the intellectual and emotional capital of the work force:

• If you know someone is going to retire in six months, make sure he has phased retirement that he comes back in two or three days a week.
  
• Morbidity increases when people leave the workplace. It's better for the health care industry by keeping people working. Get someone to mentor a junior worker to pass on knowledge, but also his networks -- which he knows.
  
• The emotional capital is a great way for younger workers to learn from older workers. It's being steady and calm. It's maturity and that's not something that can be taught, but learned by watching.
  
• You take someone who is retiring and say, "We'll give you a bounty for all your knowledge."
  

Source: "Research helps reshape work force" Indianapolis Star online (June 27, 2005)