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September 07, 2016 at 04:45 AM
Retirement increasingly looks very similar to work, as older consumers decide to continue working or begin encore careers instead of stopping work entirely.
The Bureau of Labor Statistics shows that almost 38.6 percent of Americans 55 and older were employed as of June.
Working longer can increase retirement savings by as much as 25 percent, according to a report by BofA Merrill Lynch Global Research. Many boomers were hit hard by the financial crisis, Bloomberg’s Ben Steverman found.
Fortune magazine recently published its Best Workplaces for Baby Boomers list, recognizing companies that appeal to highly skilled older workers. To compile the list, Fortune asked Great Place to Work, a brand recognition program, to survey almost 34,000 boomers from the more than 600 companies in GPTW’s database. Companies in the database pay GPTW for the survey and distribute it among their employees.
Employees rate their company on 58 workplace quality identifiers. Companies needed to employ at least 50 boomers to be eligible.
Continue reading to find out which companies topped the list.
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A tale of woes: boomers trying to build a retirement nest egg
This impage of the SAS campus in North Carolina was captured in 2008. (Wikipedia Commons)
10. SAS
SAS is a software company based in Cary, North Carolina. Of the almost 6,900 U.S. employees (there are more than 13,000 global employees), 21 percent are boomers. Fortune highlighted a lack of layoffs during the financial crisis and an employee assistance program as key reasons for the firm’s popularity with boomers. sas.com
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A study in contrasts: financial outlook of boomers vs. Gen Xer
The First American Corporation’s Santa Ana headquarters are seen here. (Photo: Wikipedia Commons)
9. First American Financial
First American employs more than 11,200 workers in the U.S., 23 percent of whom are boomers. The Santa Ana, California-based firm provides home insurance and was founded in 1889. Respondents noted that management at the firm is “creative, flexible, competent, caring and motivated,” and has taken steps to ensure the future of the firm by developing next-gen leaders. firstam.com
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How workers’ views on retirement change as they age [Infographic]
Baker, Donelson, Bearman, Caldwell & Berkowitz P.C. has several offices including an oupost in London, but the firm is headquartered at the First Tennesse Building in Memphis. (Photo: iStock)
8. Baker Donelson
Twenty-nine percent of this Memphis law firm’s workers are boomers. Fortune found that employees appreciated the “comfortable” work environment and focus on clients. bakerdonelson.com
Related:
Americans’ views on financial security vary by generation
According to the company website: “National MI began with a promise to restore trust in the mortgage industry. We are keeping that promise.” (Photo: Nationalmi.com)
7. National Mortgage Insurance
This Emeryville, California insurance provider employs less than 250 workers, 38 percent of them boomers. Formed in 2012, it’s the youngest firm in the top 10. One respondent called it “the little startup that could,” noting that the youth and growth of the company gives workers “flexibility and maneuverability as we chart our course to greatness.” Nationalmi.com
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Boomers aren’t terribly happy, and it shows (in 5 charts)
Making sure Wisconsin is know for something other than cheese and football, Acuity’s headquarters, seen here, are located in Sheboygan. (Photo: Wikipedia Commons)
6. Acuity Insurance
Another insurance provider, this Sheboygan, Wisconsin-based company is popular for its extensive benefits. One respondent called the compensation package “outstanding” in salary, employer contributions to the company 401(k), annual bonuses and health care benefits. The smaller perks, like free popcorn and bi-weekly social hours, are appreciated, but the big selling point for Acuity are its financial results: “Growth and profitability. This provides for a secure work place. People don’t get laid off around here,” one respondent said. acuity.com
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