Beware, Baby Boomers! You May be A Victim of Statistical Discrimination

Beware, Baby Boomers! You May be A Victim of Statistical Discrimination

Baby boomers are checking and rechecking their retirement accounts. And it is becoming increasingly evident that many of the nation's 75 million baby boomers reaching retirement age may have to continue working longer.

The reason: For too many baby boomers, the downward spiral of the stock market combined with the upward spiral of the cost of energy and food, the dream of a leisurely life at the beach is being abruptly interrupted by the cold hard reality they may have to continue working in order to maintain their existing lifestyle.

However, those who have to continue working—as well as those who want to remain viable contributors in the workplace—may have to face a roadblock called "statistical discrimination."

Statistical discrimination is essentially the same kind of discrimination against people because of gender, sexual orientation, skin color, religious belief or ethnic origin.

Companies are apprehensive about hiring and retaining older workers because of concerns that they are less productive, less adaptable and more likely to have outdated skills than younger workers. Since I fall into this category, I happily will challenge my productivity, adaptability and skills against anyone of any age. And I have my baby boomer relatives and friends who would join me in the same challenge. Furthermore, my research of the subject found a study by the Center for Retirement Research that shows such concerns are overstated and inaccurate.

Nonetheless there is a real problem out there. At the top of the corporate ladder, executive recruiters are routinely told not to seek anyone over 50. In one survey, one-forth of companies said they were not inclined to hire older workers.

A fresh look is needed at the implications of age, since people are healthier and living longer. According to one researcher, a 65-year-old man in 2005 was "effectively seven years younger than someone the same age in 1965."

Surely not every company engages in statistical discrimination. Fact is, many encourage older workers to stay on. AARP publishes a list of companies that have taken the lead is hiring and retaining older workers.

If you believe you are a victim of statistical discrimination, report it to the appropriate local authorities—immediately.

About Martin Diano
Martin is author of Dianosphere™—Where the View is Refreshingly Different and Managing Editor of Baby Boomer [Knowledge Center]™