November 2006
New research findings into employer practices
The latest findings from the Recruitment Confidence Index (RCI) produced by Cranfield School of Management show that most employers still have a long way to go to eliminate age discrimination.
The research revealed that amongst employers:
- Almost a quarter still do not have an age discrimination policy
- Nearly half fail to provide training to managers with regard to age discrimination
- More than a quarter of HR managers could not confirm that their Board or senior management were fully committed to eliminating age discrimination at work
- Stereotypical attitudes persist amongst HR professionals and senior managers with older workers being seen as less likely to grasp new technology and less able to accept new ideas. However, on the plus side, they are viewed as having better time keeping, being more loyal, conscientious, reliable and dependable, and more likely to think before they act.
Commenting on these findings, Dr Emma Parry, Research Fellow at Cranfield School of Management said, “The results give particular cause for concern as the respondents are HR managers who should be responsible for championing the elimination of age discrimination. (They) demonstrate that the creation of policies regarding age discrimination is not enough. Training and education programmes are needed in order to address these attitudes and the discrimination that is commonly associated with them.”
November 2006
Prowess marks Women's Enterprise Day at the House of Commons
November 13 to 17 has seen much activity during National Enterprise Week and within that November 15 was designated as Women's Enterprise Day. Prowess, the UK's leading women's enterprise organisation, marked the day with a reception at the House of Commons addressed by the Rt Hon Margaret Hodge, Minister of State for Industry and the Regions.
The challenge is there for all to see and the purpose of the evening was to stimulate and to galvanise action. It is widely acknowledged that the nation needs more women entrepreneurs of all ages and backgrounds. The talent is, undoubtedly, there but there exist barriers which must be broken down and overcome.
In themselves these hurdles are not unique to women or to particular age groups but, perhaps, the combination conspires more unfavourably in the case of women and potential entrepreneurial ambitions.
These hurdles include such things as low confidence and self-esteem, inadequate business support and access to finance, and a lack of role models. In addition, women are likely to be bearing the brunt of family caring and domestic responsibilities.
In a world of longer lifespans, longer working lives, inadequate pensions and changing social norms it is doubly important for the economy and for individuals that the talents of all of the population are harnessed wisely and fully.
For more on Prowess visit www.prowess.org.uk
November 2006
Getting a grip on how to live longer
New research from America reinforces much of what is already known about the chances of living to a ripe old age, in good health. Published in the Journal of the American Medical Association are the results of work carried out by The Pacific Health Research Institute, Hawaii, over a forty year time span.The researchers looked at 5820 Japanese/American males over this period and found a number of factors which significantly influenced whether the men lived a long life, and also whether their extra years were healthy ones. The nine factors that emerged were:
- not smoking
- avoiding becoming overweight
- watching the alcohol consumption
- keeping blood pressure down
- keeping blood sugar levels under control
- keeping triglycerides low (associated with bad cholesterol)
- having a strong grip (a sign of fitness and upper body strength)
- a good education
- being married
Some of these factors we may not be able or would not wish to do anything about. However, many merely require slight lifestyle adjustments. Women live longer than men but similar issues apply to improving their chances of a long and healthy life.
in my prime comment. Forget any old jokes like "married men don't live longer, it just seems like it". If you want some "later years", male or female, and you want them to be in good health then take the necessary steps, while you still can.
November 2006
Individual pension provision in need of a reality check.
As the government considers the future of state pensions and the topic hits the headlines again, it is clear that there is much to be done, not only in the field of pension planning but also in helping individuals to understand the size of the problem. Financial services provider JPMorgan Invest has carried out research, published in its UK Pensions Map which highlights the following.
Only about one in seven (14%) workers can look forward to what the authors class as a comfortable retirement. Nearly two-thirds (64%) are facing a "difficult" retirement which they define as a pension of 40% or less of final salary (weighted against the cost of living).
The situation is particularly worrying for women where three-quarters (74%) are heading for a difficult retirement compared to a little over half (55%) in the case of men. For women in the 55-59 age bracket this rises to a staggering 93%. For women in the 25-34 age range the number is only 57%. The improvement for younger women is probably a reflection of the hike in retirement age, the increasing earning capacity of women generally and the longer time available to come to terms with the increase in life expectancy.
The study further breaks these numbers down on a regional basis but the main points coming through are the lack of adequate pension funding and the widespread lack of knowledge of what an adequate "pension pot" amounts to.
in my prime comment. It is evident that the whole issue of having enough money to see us through our old age has caught the entire world by surprise. The problem is what do we do about it? Like most things there is unlikely to be one magic formula. What will, undoubtedly, be necessary will be adjustments on a number of fronts - anticipated retirement age, lifestyle expectations, "watching the pennies", looking for alternative means of funding, and so on. Over time in my prime will help explore all these issues.
