The Challenge

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Talent is Ageless Mature Workers as an Important
Workforce Asset
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CVS Caremark strives to improve the quality of
human life.

• CVS Caremark is
• The nation's premier integrated pharmacy services
  provider, combining one of the nation's leading
  pharmaceutical services companies with the
  countrys largest pharmacy chain, with more than
  190,000 employees.
• CVS/pharmacy is the nations largest retail
  pharmacy chain, with more than 6,200 stores in 38
  states.
• Committed to the recruitment and retention of
  older workers in careers at all levels.
• Aligned with leading workforce agencies and
  partners in the field of aging.

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A Changing Workforce in America

• The Challenge
• 76 million baby boomers are reshaping the
  landscape as they reach retirement age.
• As baby boomers retire, there won't be enough
  young people entering the workforce to fill the
  void.
• In 2010, there will be a shortfall of 10 million
  workers in the U.S. according to The Bureau of
  Labor Statistics.
• The loss of older workers means the loss of
  skills, experience, institutional knowledge, and
  relationships, which take time and money to
  replace.
• The Solution
• Forward-looking companies who recruit
  and
  retain mature workers and take a
  creative
  approach to leveraging their
  talent and experience.

• 60 is the new 40
• The post-war Baby Boom started in 1946 and ended
  in 1964.
• No fewer than 7,918 people turned 60 each day in
  2006, according to the U.S. Census Bureau.

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A Changing Workforce in America

• WHO WILL WORK?
• By the year 2010, 17 of the nations workforce
  will be adults
• age 55 or older, and 19 by 2050.
• During that same period the percentage of younger
  workers age
• 25 to 54 are expected to decline from 71 in 2000
  to 67 in
• 2010 and 65 in 2050.
• AARP surveyed 2,001 people between ages 50 and 70
  
• about their views on retirement. Of those
  surveyed they found
• 85 had never retired from a job.
• 63 said they planned on working at least
  part-time in retirement.
• 50 said they envisioned themselves working into
  their 70s.
• 5 said they planned to never retire either
  because they enjoyed working or they needed the
  income
• Source American Association of Retired Persons

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A Changing Workforce in America
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Profile CVS Caremark Mature Workers

• In the early 1990s, less than 7 of the CVS
  Caremark workforce was over 50
• Today, mature workers make up over 18 of the
  CVS Caremark workforce

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Profile CVS Caremark Mature Workers
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Gray Matters Mature Workers as an Asset

• 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

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Innovative Programs Snowbirds

• CVS Caremark offers a
  snowbird program
• Allowing employees to shuttle
  between two CVS/pharmacy locations on a
  seasonal basis
• Helping retain mature workers desiring
  flexibility
• With over 1,000 employees enrolled
• Offering additional benefits such as assistance
  with moving expenses

- Time magazine
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Innovative Programs Benefits Job Fairs

• CVS Caremark
• Has been a leader in developing a
  benefits package that is available
  to
  part-time workers
• Regularly sponsors and participates in job and
  health fairs across the country

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Innovative Programs Mentoring

• CVS Caremark Senior Pharmacist Legacy Mentoring
  Program
• Uses talent and experience of senior pharmacists,
  working and retired
• Enables young pharmacy technician
  apprentices and high school
  students
  to be mentored
• Cultivates and reinforces an interest
  
  in entering pharmacy careers

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CVS Study Interest in Mentoring

• CVS mature pharmacists in IL, GA, and FL were
  polled in January on their thoughts on mentoring
  
• The majority of respondents believe that
  mentoring is important to themselves personally.
• Practicing pharmacists are particularly
  interested in mentoring high school or college
  students and young pharmacy technicians.
• Pharmacists who are interested in mentoring in
  retirement are uncertain where to start.
• Half the responding pharmacists are willing to
  participate in mentor training, and mentor
  training was reported to be an important factor
  in their decision to mentor.
• - 2008 Study by Dr. Barbara McIntosh, Business
  Professor, University of Vermont

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CVS Caremark Partnerships

• CVS Caremark partners with federal, state, and
  local agencies and organizations to establish
  recruitment, pre-screening, placement, training
  and retention services for eligible mature
  candidates
• National Council on Aging (NCOA)
• American Society on Aging (ASA)
• AARPs National Employer Team
• Senior Community Service Employment Program
  (SCSEP)
• Chicago Chinese American League
• Department of Labor Womens Bureau
• Easter Seals
• SER-Jobs for Partnership, Inc.
• National Caucus and Center on Black Aged
• Experience Works
• GoodWill
• Social Security Administration (SSA)
• State Departments on Aging

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CVS Caremark Leadership

• CVS Caremark leverages other mature worker
  agencies through local and national workforce
  meetings, conferences and events
• ASA/NCOA Annual Joint Conference
• ASAs New Ventures in Leadership Program
• Managing Mature Workers working group of the
  Conference Board
• Taskforce on Older Workers of Corporate Voices
  for Working Families
• The executive committee of NCOAs National Older
  Worker Employment Partnership
• International Association of Jewish Vocational
  Services (IAJVS)
• Women/Venture
• White House Conference on Aging

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