Age discrimination is rampant in the insurance industry. Used to see professionals in their 60’s and early 70’s changing jobs for better opportunities. Now you are lucky to be employed if you are over 50. And they call it a “talent shortage.”
“we mark the 50th anniversary of the Age Discrimination in Employment Act (ADEA) this year” 50! Time to get rid of it.
I don’t believe in age discrimination. If an older person can do the same job as a younger for the same $$$, I’d hire the older one for the experience factor. However, some places and jobs are made for the younger, faster moving people.
Don’t believe age discrimination occurs or don’t believe it’s a big deal? My wife had a very difficult time trying to get back into the work force when she tried after age 50. She has a college degree and some great, varied experience, but when she applied for positions she rarely got an interview, and rarely ever received any sort of acknowledgment she had even applied. When she did get an interview it was usually with a 30 year-old who didn’t want to hire an old-timer. She finally found a position after a year of searching.
One carrier gets rid of their over 50 employees who tend to be higher paid and cost more for things like health insurance and pensions/401k and replace them with younger and cheaper folks who don’t cost as much and then other carriers follow suit if they see the other one not get caught.
Its hard to have principles as a CEO when shaving 1/2 a point off your expense ratio means that you are performing with your peers or not.
Was in a layoff a few years ago and most laid off were over 40. Found out that there is an informal % the feds use-if the % over 40 is less then a certain amount then its all good. If not then the EEOC gets involved. Pretty bad as its well over 50% can be over 40 btw, not an actual distribution of head count or local demographics.
Age discrimination is rampant in the insurance industry. Used to see professionals in their 60’s and early 70’s changing jobs for better opportunities. Now you are lucky to be employed if you are over 50. And they call it a “talent shortage.”
Companies want to start using Robots for more and more. They don’t ask for raises and benefits
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Don’t believe age discrimination occurs or don’t believe it’s a big deal? My wife had a very difficult time trying to get back into the work force when she tried after age 50. She has a college degree and some great, varied experience, but when she applied for positions she rarely got an interview, and rarely ever received any sort of acknowledgment she had even applied. When she did get an interview it was usually with a 30 year-old who didn’t want to hire an old-timer. She finally found a position after a year of searching.
I sure hope that there is no suit brought against HOOTERS!
One carrier gets rid of their over 50 employees who tend to be higher paid and cost more for things like health insurance and pensions/401k and replace them with younger and cheaper folks who don’t cost as much and then other carriers follow suit if they see the other one not get caught.
Its hard to have principles as a CEO when shaving 1/2 a point off your expense ratio means that you are performing with your peers or not.
Was in a layoff a few years ago and most laid off were over 40. Found out that there is an informal % the feds use-if the % over 40 is less then a certain amount then its all good. If not then the EEOC gets involved. Pretty bad as its well over 50% can be over 40 btw, not an actual distribution of head count or local demographics.