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Retirement? Not Today
Spiggle Law
April 19, 2024
Attention, Rocketeers! Brace yourselves to dive into the latest developments in the realm of employment, propelling your career trajectory to new heights!
What’s on the agenda today?
🚀 The Ageless Workforce
🛡Job Market Insights of this Week
⚖ The Office Etiquette Epidemic
🚀 Career Resources
The Ageless Workforce: Many Working Past the Retirement Age
Embracing the vitality of older adults in the modern workforce
In an era where people are living longer, healthier lives than ever before, it comes as no surprise that many individuals are choosing to continue working well beyond the traditional retirement age. The concept of an ageless workforce is not only emerging but thriving, powered by a combination of evolving work conditions, financial considerations, and the steadfast will to confront ageism.
Life's Third Act - A New Trend
A myriad of reasons exist to explain why more Americans are extending their careers into the twilight of their lives.
Advances in healthcare and overall quality of life have led to increased longevity, allowing people to remain healthy and active into their golden years. Coupled with this is a notable shift in the nature of work.
The days of back-breaking physical labor as the norm are becoming a distant memory, with a majority of the workforce now engaged in desk jobs that require more mental acuity than physical exertion. This shift has played a pivotal role in enabling older adults to stay in the workforce longer.
The rise of remote work culture, powered by platforms like Zoom, has allowed older Americans to remain in the workforce effortlessly. This has been particularly evident in the post-pandemic boom, where about 50% of older workers continue to engage in physically demanding jobs.
A Retirement Landscape in Flux
Economic considerations are another critical driver of this trend. Social Security payments remain a significant income source for older adults, providing about 90% of income for more than a quarter of them. However, looming fears of depletion of the Social Security trust fund by the mid-2030s have left many older workers wary of relying solely on these benefits.
The shift from pension-based retirement plans to 401(k) has further compounded this uncertainty. In the mid-1980s, about half of the private sector workers were covered by defined-benefit plans, encouraging retirement by 65. By 2022, only 15% had these plans, with a majority now having access to 401(k), but only half using it.
Ageism - A Battle to be Fought
Despite these societal and financial shifts, ageism continues to be a pervasive issue that older workers face. The Age Discrimination in Employment Act (ADEA) makes it illegal to discriminate against workers aged 40 or older in the United States. Yet, a recent AARP survey found two-thirds of adults over 50 believe they face workplace discrimination due to their age, with nearly 90% seeing ageism as commonplace.
The rise of the ageless workforce calls for a paradigm shift in attitudes, promoting inclusivity and diversity in age within the workplace. After all, we're not just living longer - we're working longer too.
Here's to embracing an ageless workforce and the wealth of experience and knowledge it brings to our society, one working day at a time.
In a Snapshot: Job Market Report
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Median weekly earnings of full-time workers were $1,139 in January to April 2024
Median weekly earnings for all 119.2 million full-time workers across all occupations were $1,139. Women had median weekly earnings of $1,021, or 83.2 percent of the $1,227 median for men. While the consumer price index saw a 3.2% growth, median incomes were 3.5% higher than last year.
Full-time workers without high school diploma earned 25% less than those who graduated high school
Salary differences amongst high school graduates were 25% less than those that graduated high school, earning weekly paychecks of $718 compared to $901. Those who graduated with a bachelor's degree earned 86% more than those who graduated from high school, earning $1,680.
Management professionals received the highest median weekly earnings for both men and women
Among most occupations, those in professional management received the highest median weekly earnings. Men received $1,875 per week, and women received $1,375 per week. Comparably, those working in service occupations earned the least, with 833 for men and $694 for women.
The Office Etiquette Epidemic: The Worst Habits According to HR Pros
Time to leave your work-from-home habits behind and relearn office etiquette.
Back in the office? You might be bringing along some undesirable baggage, and we're not talking about your lunch box. According to HR professionals, many workers are falling prey to lack of mindfulness towards others. Let us guide you on your journey to office etiquette!
Mind Your Mess
One particularly pervasive issue? Messy workspaces. According to professionals, what should be "common sense" is turning out to be a major problem for many returning to the office environment. The culprit? Habits adopted during the work-from-home era.
Leaving dirty dishes from your lunch on your desk until the end of the day might be tolerable in your home office, but it's not quite so acceptable in a communal workspace. Even worse, if your team uses a hot-desking system, your leftover coffee cups and food containers become a headache for the next desk occupant.
An Etiquette Guide to The Rescue
In response, some companies are implementing office etiquette guides. A gentle nudge to employees about cleaning up after themselves in the communal kitchen and not turning the A/C into a winter wonderland.
The Art of Hybrid Workplaces
The need for mindfulness is especially acute in hybrid workplaces, where physical presence isn't always guaranteed. Here are some tips to ensure smooth sailing in such an environment:
Book the right facilities: Ensure that the office is equipped with the appropriate technology for remote workers to participate.
Set an agenda: Make sure everyone has the same information before the meeting.
Send meeting requests in advance: This will cater to those on more flexible working schedules.
Follow up: Provide a written summary and action items after the meeting.
Capture important informal discussions: Anything of note said outside of the meeting that remote workers should know must be passed along in a written message.
Now, don't let bad habits ruin your office rapport!
Here is a list of our very own career resources, just for you.
Resume and Inverview Services: Should you find yourself unemployed and overwhelmed, worry not. You are not isolated in this struggle. Our mission is to support you in regaining your footing. We have carefully selected and collaborated with several experts for you to select from, who will assist in fortifying your job search and, if you are an existing client, enhancing your case.
E-Books: Interested in learning more about employment law topics? Below are a couple free E-Books written by Tom Spiggle. Interested? Click here to learn more.
The Spiggle Law Firm Podcast: Listen to our podcasts to learn about the world of employment law. You can never be too prepared!
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Fly high,
The Career Rocket by The Spiggle Law Firm