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I just returned from the spring ‘08 meeting of the Research Advisory Board for Boston College’s Center on Aging and Work/Workplace Flexibility which was co-hosted by GlaxoSmithKline (GSK) in Durham, North Carolina. North Carolina has become one of America’s "hot spots" for retirees. And it was no coincidence that GSK co-hosted this meeting.
Companies all across the country, and especially in industries based in the sciences, are seeing large portions of their workforce aging. Recognizing a need to keep those individuals with the most experience and institutional knowledge, GSK developed its Prime Time Partners Network (PTPN) to retain and recruit older workers.
PTPN works with employees on transitioning into a different phase of life by discussing different retirement options, obtaining new job skills, and participating in mentoring programs. It also assists the company to maximize knowledge transfer before retirement occurs. Since 2007, GSK employee participation in PTPN has more than tripled and has even spread to other states. Plus, the employee satisfaction with the program is at 96%! And we all know that satisfied workers stay working longer.
This week, Arthur Rothkopf, Senior Vice President at the U.S. Chamber of Commerce will deliver a keynote address to the National Council on Aging and the National Society on Aging in Washington, DC. With Baby Boomers approaching retirement age, it’s "prime time" for all employers to start thinking strategically about their future workforce.