Connections
Engage Your Retirees
Kellie A. McElhaney, 01-18-2009
Though the retirement-age talent pool has found its ability to leave the corporate nest and ride happily into the sunset somewhat stunted by the world’s current financial straits, many in this group have found value in staying employed in some capacity.
Many stay on at their companies in part-time consultant roles or as mentors. Essentially, they become the go-to subject matter experts whose valuable experience and know-how might have been lost by the company. Part-time or contract assignments offer them the opportunity to remain active in the business community while simultaneously freeing up time to pursue some of those golden-year projects they’ve worked so hard to make time for.
This group, with its vast store of expertise and flexible timetables, represents a skilled set of corporate and community volunteers that has become valuable as companies look for ways to court their brands, products and services. Estimates in early 2008 showed 77 million baby boomers were beginning to think about retirement. Smart companies are looking at unique ways to engage this growing set of younger retirees, and in more creative ways than Wal-Mart’s penchant for mature store greeters.
During a time in which corporate budgets are being trimmed and slashed, advertising and marketing are some of the earliest to get cut. Hewlett-Packard embarked on a campaign to recruit its retirees as a new group of brand ambassadors. In March 2008, Michael Mendenhall, HP’s chief marketing officer, attended the company’s annual retiree meeting to urge 500 gathered former employees, along with hundreds more monitoring the proceedings over the Internet, to act as ambassadors. As such, they would join local alumni clubs and civic groups and speak up on legislative issues Hewlett-Packard cares about, such as recycling and energy efficiency, and do volunteer sales.
In doing so, the company is tapping into a passionate group of company cheerleaders with vast amounts of corporate knowledge. “We’re moving forward with an effort to capitalize on the fact that we have these great brand stewards. When you look at the importance of great word-of-mouth and great third-party endorsement, who better to do that than your own employees?” Mendenhall said. It turns out the retirees appreciate the reconnection and call for assistance.
Chuck Ernst, a 91-year-old former HP customer service manager, was quoted in a March New York Times article on Mendenhall’s gesture: “HP wants us to feel connected, and they’re doing all this work to keep us connected. We’re proud of the company, and we don’t hesitate to let people know it.”
Nonprofits also are engaging the retiree population as volunteers. Retirees come pre-trained with skills that nonprofits need. A 2007 study conducted by Hart & Associates suggested older volunteers plan to increase their level of volunteering, and they care more about contributing to a cause and organization that they care about than other oft-mentioned reasons for volunteering such as networking, fit with schedule and skills development. The number of retirees campaigning for candidates and working the polls during our November presidential election illustrated this trend.
Companies can be creative and smart like HP in two ways:
- Beyond engaging retirees in sales, in-store events and alumni groups’, engage retirees in employee volunteer programs. They plan to increase their volunteering, so make it easy for them and keep them connected to your company. Not only are you increasing your fleet of community volunteers and broadening your organization’s ability to make a positive impact in the communities it serves, you are utilizing this group of retirees as positive, viral brand ambassadors.
- The Millennial population has a strong desire to volunteer and get involved with social causes and a high need for feedback and mentorship. Why not take advantage of the opportunity to engage corporate retirees to feed Millennial workers’ desire for social action and community engagement while simultaneously providing them with a skilled, savvy and corporately knowledgeable mentor?
It’s a win-win proposition. Look back in your corporate coffers for valuable, skilled, wanting-to-remain-connected retirees and re-engage them.
Kellie A. McElhaney is adjunct assistant professor at Haas School of Business at University of California, Berkeley and author of Just Good Business. She can be reached at editor@diversity-executive.com.
