By Cree McGree
What’s Happening
• “Hi-ho, hi-ho, it’s off to work we go,” is the happy refrain of older adults, who aren’t just punching the clock for the paycheck. Fifty-four percent of 65-and-older employees are “completely satisfied” with their jobs, compared with 29 percent of 16– to 64–year-olds, Pew Research Center reports.
• Just 17 percent of older workers say they work because they “need the money,” compared with nearly half of their younger cohorts.
• Good thing graying employees like their lot. The government estimates that 93 percent of the growth in the U.S. labor force from 2006 to 2016 will be among workers ages 55 and older.
What This Means to Business
• Meaningful work makes older adults feel vital, which helps explain why so many of them like their jobs. What is surprising, especially in a recession, is that money ranks so low as a motivator.
• Happy employees make for good business, giving employers plenty of reason to keep older workers around.
• Younger employees who “work for the weekend” may want to emulate their elders if they don’t want to be passed by.
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