Workplace Insights | Bank of America Merrill Lynch
What are your employees' priorities?
Work
The silver-collar workforce

Life Priorities - Work

Work is an area rich with financial, emotional and social implications. Changes have been reshaping our vision of work and retirement for years, perhaps most dramatically with the huge numbers of Baby Boomers who didn't take the typical view of those "golden years." With extended life spans, many want to continue working in some capacity.

For employers, it has created an opportunity to rethink what this "silver collar" workforce brings to a company and create new approaches that cast retirement as a transitional process and not a "rigid endpoint." Having a strategy for retaining senior workers, and attracting workers of all ages, may become a key element for company success as the generational transition progresses.

Watch a brief video about how individuals' think about their work as part of their lives.

What's on your employees' minds:

  1. How much can I afford to put toward retirement savings each year?
  2. How can we keep our savings on track if one of us stops working temporarily?
  3. How will I know when I can retire?

Actions employers can take to help:

  • According to AARP, older workers score high in leadership, detail-oriented tasks, organization, listening, writing skills and problem solving — even in technology fields.2 Make the most of this older generation by creating a workplace that appeals to older workers.
  • Help your employees better manage their financial lives by talking to your Bank of America Merrill Lynch representative about everything a Financial Wellness program has to offer your workforce.

1 Workplace Benefits Report, 2017

2 Nathaniel Reade, "The Surprising Truth About Older Workers," AARP The Magazine, August/September 2013 Retrieved from http://www.aarp.org/work/job-hunting/info-07-2013/older-workers-more-valuable.html

AR-AR4G7JMR-EXP-08/08/2020
See how Retirement & Benefit Plan Services can expand the possibilities of your employee benefit solutions.
Request Contact