David Noer, the Frank S. Holt Jr. Professor of Business Leadership at Elon, was quoted in a Feb. 2 story in the New York Times about aging business executives who are working into their 70's and 80's. Details...
The article, by Times reporter Patrick McGeehan, looks at the growing trend for business executives to work beyond the traditional retirement age of 65. CBS recently forced legendary “60 Minutes” producer Don Hewitt out his job at age 80, but other high-profile CEO’s, such as 72-year-old Warren Buffett of Berkshire Hathaway, continue to stay in their jobs.
Below is the text of the article containing Noer’s comments:
“Professor David Noer, who coaches executives and teaches management at Elon University in North Carolina, said there was a generation gap in attitudes about retirement.
“Many people over 50 ‘have put all of their psychological eggs in the organizational basket,’ he said, adding that ‘who they are is where they work.’
“And what are you if you don’t work there anymore? The unpleasant answer, he said, is ‘not much.’
“Workers in their 30’s and 40’s tend not to be seduced by organizations and have accepted that a career will include twists and turns, Professor Noer said. Their identities are tied more closely to what they do than to where they work.
“‘Society is much more tolerant of alternative careers,’ he said. ‘What people need to understand is there are a lot of ways you can be relevant to the world without staying at 60 Minutes or in your current job.’
“Professor Noer said attitudes also vary by industry. Many doctors are working past normal retirement age, and a shortage of nurses has kept some working until they need to use their carts as walkers, he said. But in mainstream manufacturing and sales, youth is still prized, he said.
“The media industry, however, seems more willing to accommodate older people who have established their own franchises, he said.”