A BOOMER'S ADVICE
Being both an agingboomer, and intimately involved with a workforce of equally aging boomers, I would like to add a few pieces of information that Peter Rousmaniere did not mention (in "Aging Matters," Risk & Insurance®, March 2008, Page 16).
First, boomers are losing more time per injury not only for the reasons noted, but the fact is, the older we get, the longer it takes for us to heal. Also, the older we get, the more likely we are to have an injury that does result in lost time.
Second, the generation that is replacing us boomers is far short in numbers, some 8.5 million plus short of replacing us as we retire. Employers are going to find themselves hard pressed to not only find replacements, but qualified replacements.This coupled with the fact that many of us boomers do not want to retire, but want to keep working at our careers well past 65, is creating a situation where the workplace needs to be modified to accommodate our "aging" needs.
For many boomers, work is not just a means for an income, it is our passion, our hobby, our reason for getting up in the morning. We have no intention of retiring at 65, but we also don't want to necessarily continue to work full-time. Again, employers are going to need to address these impending realities, and address them soon, if they want to remain competitive and profitable. They will need to look at part-time work schedules, telecommuting, ergonomics, benefits eligibility and workplace accommodations--if they want to keep their invaluable workforce working.
Remember, there are a lot of us boomers out there, we are a vocal and politically savvy bunch (remember the 60s), and we are already getting laws passed to prevent "age bias" in the workplace. Employers will be very well served to address these issues and plan for this rapidly approaching future.
David M. Goldojarb, M.S., CPDM
Disability Case Manager/Ergonomist
Pratt & Whitney Rocketdyne Inc.
BANKS BEAT INSURERS
Great article, Roger!("Marveling at Losing a Billion," April 15, 2008, page 14). I applaud your candor and accurate depiction of the travesties that one must endure in the industry sector as a result of these infrequent catastrophic, albeit not cataclysmic failures.
However, I would like to argue with you over some drinks the next time you visit the West Palm Beach area again about your statement that "banks are almost as bad."In my humble opinion, some financial institutions are far worse than insurers and reinsurers could ever be in one's worst nightmare.
At the very least, an analogous comparison of insurers and reinsurers to some financial institutions would be like the former gambling at the baccarat or blackjack tables with a 10 percent or 20 percent table stake while the latter bets it all and then some on Kino or roulette.
The demise and cataclysmic losses by some of the financial institutions from their subprime and credit default swap positions in the next year will make the SCA failure look like a cake walk. They have already made Enron look like a Sunday brunch! So much for the validation of SOX and COSO's effectiveness with regard to financial risk management.
Director of Risk Management
WCI Communities, Inc.
Bonita Springs, Fla.
June 1, 2008
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