Chapter 11 Work, Retirement, and Leisure Flashcards
How has our labour force participation rates of men and women changed over the years?
For women it has gradually increased a lot, for men it is slightly lower
labour participation for older adults has increased over the years, why?
Its normal for people to work longer now
Baby boomers are now retiring, but the percentage of working-age population is still levelled out, why? Whats balancing this out? And how do we fix this?
The age ratio 0-14 is decreasing because we are bad at replacing ourselves.
if we can change the age at which you can get government pension to 67, we gain 2 years of people in the work force
What are mentors?
A coworker who teaches a new employee the unwritten rules and help to see the whole picture since your in the frame. They will be interested in your success and identify non-obvious mistakes
What are the 3 steps on how to get a mentor?
1) Acquisition of the mentor - think about people internal to your company that you admire as leaders, identify 3-5 people
2) Interactions/approaching the mentor - show that you admire them and that your looking for some to help you grow
3) Follow up - they can agree to be your mentor, or disagree. You can ask if they can think or someone else or if they want to reconsider later
What are some common stereotypes people have about older workers
Their less productive, resistant to change, stubborn, difficult to train, their gonna die/retire anyways.
The only true one is that their less likely to train
What are some benefits of having older workers as employees?
Reduces turnover and costs associated with hiring and training.
Knowledge and experience of older workers add value to your organization
An increase in productivity as older workers tend to have a strong work ethic
What are 3 characteristics of older workers?
- Better citizenship and safety (more likely to follow rules and help others out)
- Slightly lower core work performance (do less well with shift work, gets tired and needs more rest)
- Fewer counter-productive behaviours (more likely to call in sick but better at regulating mods and likely to be on time)
Why is it hard for an older person to find a job?
Because of age stereotypes, and because they have less education (cohort difference)
__-__% of people find difficulties in retirement in the beginning, and __% have ongoing difficulty that doesn’t end
25-30%, 10%
What are the 5 stages of retirement
Growing interest
Initial Euphoria
Some stress
Adjustments to new lifestyle
Settling down
What are some causes for early retirement?
Being a women
Poor health
Lower socioeconomic status
Fast technical change in job
duties/environment
What are some causes for later retirement
Having a spouse who’s working
Higher levels of education
Higher socioeconomic status
How does having a job help with self perception
Its nice to say that your still working ex. when you meet someone, you usually bring up your profession, which is why you need to work on your identity outside of work
What is Bridge Work/Employment
Employment that you do between your full time job that you’ve always done, and a different job (usually part time) that you start doing that’s often less demanding
eg. being a principle your whole life, then becoming a garden manger
It can have a positive effect on mental health if your doing it because you want to, not for money
