Talent is Ageless The Case for Mature Workers Barbara Hoenig, CVS Caremark Consultant on Mature Workers and Workforce D

2. 2 CVS Caremark strives to improve the quality of human life.

3. 3 Our Vision �We strive to improve the quality of human life.�

4. 4 CVS Caremark goes all out to be recognized as� Top Customer Service Company Best Place to Work One of the most influential forces in reshaping the U.S. healthcare system . .

5. 5 Profile: CVS Caremark Mature Workers

6. 6 Mature Workers Matter Top Qualities of CVS Caremark Mature Workers: Superior work ethic Loyalty Maturity in the workplace Serve as strong role models for younger staff Excellent at customer service Flexible schedules Add diversity to our workforce & to mirror the customer base

7. 7 CVS Workforce Initiatives Dept.

8. 8 CVS Workforce Initiatives Dept. WI � the liaison between the CVS field operations team and partner agencies 16 dedicated staff from all over the US 6 regional learning center managers Consultants supporting in various areas Numerous national workforce partnerships

9. 9 CVS Strategies for Recruiting & Retaining Mature Workers Partnerships with public-sector and nonprofit workforce development programs Easter Seals, NCOA, National Center on Black Aged, National Association for Hispanic Elderly, AARP, Goodwill, and IAJVS Community Colleges, Universities and Colleges of Pharmacy DOL: ODEP, Women�s Bureau and Office of Apprenticeship, BRG Workplace flexibility � flexible work hours, part-time benefits, snowbird program Mentoring programs Lifelong Learning Accounts (LiLAs) Community outreach � job fairs, presentations at aging and workforce conferences Sensitizing staff � making the business case for mature workers to Operations and HR staff

10. 10 Winning Strategies & Best Practices What are the winning strategies and best practices for attracting and retaining mature workers? 5 areas: Recruitment Workplace culture Benefits � health & financial Alternative work arrangements Special opportunities for retirees

11. 11 Best Practices: Recruitment Cornell University > Placement agencies and retirement associations Lee Memorial Health System > Senior centers Bon Secours Richmond Health System > Advertising campaign Blue Cross Blue Shield of Chicago > Web sites and retiree pool MIT > Job fairs and workshops Atlantic Health > 1,000-Hour Club: retirees work up to 999 hours yearly without losing retiree benefits Beaumont Hospitals > AARP job fairs; contacts retired employees Mass. General Hospital > Placement agencies, nonprofit employment and training agencies Mitre Corporation > Retirees on call in �Reserves at the Ready� program

12. 12 Best Practices: Workplace Culture SC Johnson > Temporary assignments in other departments to develop new skills Lee Memorial Health System > Awards for long service Bon Secours > �50+ Advantage� column in monthly employee newsletter showcases mature workers Deere & Company > HR systems/tools to help employees become effective managers of own careers Blue Cross Blue Shield of Chicago > Special equipment for sight-impaired employees, interpreters for speech-impaired employees MIT > Assisted-listening devices to accommodate employees with disabilities Atlantic Health > Medicare workshops; nurses given formal recognition and financial rewards

13. 13 Best Practices: Benefits Mercy Health System > Employees working at least 20 hours per week have medical, prescription-drug, dental, and long-term care coverage Adecco Group North America > Also, offers 401(K) retirement savings plan with employee match to employees working at least 30 hours per week; wellness programs and referrals for child and elder care Scripps Health > Also, offers health benefits for retires both under and over 65 and flexible-spending accounts Beaumont Hospitals > Short-term time off without pay and long-term leaves of absence for caregiving

14. 14 Best Practices: Alternative Work Arrangements Cornell University > Flextime for full and part-time employees, job sharing, telecommuting, and formal phased-retirement program SC Johnson > similar to Cornell First Horizon National Corporation > similar to Cornell Bon Secours > Also, phased-retirement program with three options: 1) retiring at age 65 but continuing part-time while collecting pension, 2) retiring and rehiring without jeopardizing retirement checks, or 3) working past age 70 � and beginning pension regardless of working status Atlantic Health > Formal phased-retirement program for full time employees with change from full-time to part-time to temporary status before retirement; can move to part- time work on a permanent or temporary basis

15. 15 Best Practices: Opportunities for Retirees Cornell > Staff that regularly communicates with retirees and plans activities Scripps > Staff person responsible for retiree relations who plans workshops and offers retirees temporary assignments Lee Memorial Health System > Retirement planning workshops First Horizon National Corporation > Offers temporary work and consulting assignments and contract work to its retirees

16. 16 Conclusion Gray Matters � As baby boomers age, the workplace will be grayer � some sectors grayer than others. Despite the economic downturn, and once recovery begins, there will still be a persistent shortage of workers in education and healthcare. Older workers will continue to seek new careers, whether by extending their relations with their present employers in some creative way or opting for new careers.

17. 17 Conclusion Ingredients for success Workplace flexibility Access to eldercare solutions Phased retirement Workplace accommodations Knowledge transfer Innovative training

18. 18 CVS Caremark