We evaluated each employer’s performance on a range of work force practices and policies beneficial to workers 50 and older.
The five key criteria that follow were rated from 1 (worst) to 5 (best) and calculated along with other qualities to arrive at each employer’s overall ranking.
Recruiting
AARP reviewed how companies seek out older workers. Among the measures: Are ads placed in publications targeting diverse age groups? Do materials appeal to workers of all ages?
Training and Development
An important part of any job is keeping skills sharp. AARP evaluated not only the skill-enhancing programs these companies provided but also how proactive they were in encouraging older workers to take part. Ditto for perks such as tuition assistance. Training-and-development ratings also take into account whether or not the employer regularly conducts employee opinion surveys and provides opportunities for new experiences, such as cross-training and temporary assignments.
Health Benefits
This seems like a given, but we dug a little deeper to assess each company’s medical, prescription-drug, vision, and dental insurance coverage, including the percentage of the premium that workers are required to pay and whether these benefits are offered to part-time workers and retirees. We also looked for extras like long-term care insurance.
Pension Plans
Key measures: Do the companies offer traditional defined-benefit plans and/or defined-contribution plans? Do they have other financial incentives like stock options or profit sharing? Do they offer resources to help workers make informed decisions about retirement savings?
Alternative Work Arrangements
We looked for opportunities like telecommuting and flextime, which are particularly important to workers with caregiving responsibilities. Another grade booster: phased retirement, in which employees receive benefits while working fewer hours.
Bernard E. Nash Award for Innovation
This annual award is presented to companies whose creative and forward-thinking practices are designed to truly benefit the 50-plus worker.