Quick and Quintessential Career & Job Tips
Job-hunting tips from the August 30, 2004 issue of QuintZine.
Exec-U-Net recently surveyed 278 executives about age discrimination. Here are their findings:
- 72 percent of executives fear being victimized by age discrimination.
- 40 percent are worried they will be forced into retirement due to age.
- 36 percent fear becoming too old to find a new job.
- 22 percent are concerned their skills are becoming outdated.
The findings are based on the responses of 150 senior human-resource executives to an online survey — 76 percent from U.S. companies, 24 percent from other industrial nations. The survey participants were about evenly divided between manufacturing/utility firms and service firms. More than 67 percent of the companies represented have worldwide annual sales of $5 billion or more.
Of the 150 responding companies, 68 have workforces with 20 percent or more employees who are 50 years of age and above. Among other findings:
- 81 percent do not deal with cross-generational issues in their diversity training.
- More than two-fifths of survey participants have 30 percent or more employees who are 50 years of age and above; 77 percent of this group are manufacturing firms.
- Almost two-fifths of companies in the survey offer their employees early-retirement incentives. Of that group, 64 percent say they offer them to “avoid downsizing,” suggesting their aim is to cut costs without wholesale dismissals.
- The average retirement age in the companies represented is under 59.
California: Aerospace Corporation, DaVita Inc., Qualcomm, Ultratech
Virginia: CALIBRE, MITRETEK
New York: Adecco Employment, New York Life
Elsewhere: ABN AMRO North America (Chicago), Baptist Health (Coral Gables), The Hartford Financial (Hartford), Howard University (Washington, DC), Principal Financial (Des Moines), Prudential Financial (Newark), The Stanley Group (Muscatine, IA)
Information excerpted from “Bottom Line Personal.”
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