The Castleton Group Announces “Older and Wiser” Survey Results
Raleigh, NC, July 03, 2007 --(PR.com)-- Jay McLamb, chief operating officer of The Castleton Group, a full-service professional employer organization (PEO) specializing in human resources outsourcing, has announced the results of “Older and Wiser,” a survey the firm participated in, conducted by the National Association of Professional Employer Organizations (NAPEO) in February. Almost 400 PEO clients, most of them with less than 50 employees, participated in the survey which provided data on retirement-related issues and gained positive exposure for the human resources industry.
Survey results include:
- One fifth of the 390 small businesses surveyed said their older workers are staying on past age 65. More than one third are still working because they cannot afford to retire.
- Twice that many businesses surveyed said their employees were working past 65 because they liked working or enjoyed the extra income.
- Sixteen percent of the companies that responded said employees between the ages of 60 and 64 made up 5 percent or more of their workforce.
- Three quarters of the 390 companies surveyed, reported having a 401(k) plan.
- Fewer than 2 percent had a phased retirement plan, which is a relatively recent innovation letting older workers reduce their hours while starting to draw on a pension.
- Eighteen percent of companies surveyed said their workers were delaying retirement beyond age 65.
NAPEO is the largest trade association representing more than 370 professional employer organizations nationwide. To learn more about survey results, visit http://www.napeo.org/newscenter/research.cfm.
“The Castleton Group is proud to have been a participant in the National Association of Professional Employer Organizations’ ‘Older and Wiser’ survey,” said McLamb. “The survey was a great way for the human resources industry to gain positive exposure, and it provided valuable information on retirement-related issues.”
About National Association of Professional Employer Organizations:
The National Association of Professional Employer Organizations (NAPEO), is the recognized “Voice of the PEO Industry®.” NAPEO has more than 370 PEO members found in all 50 states, representing more than 70 percent of the revenues of the $51 billion PEO industry. PEOs enable clients to cost-effectively outsource the management of human resources, employee benefits, payroll and workers’ compensation. PEO clients focus on their core competencies to maintain and grow their bottom line. To learn more about the PEO industry and how PEOs contribute to small businesses’ success, visit the NAPEO Web site at http://www.napeo.org.
About The Castleton Group:
The Castleton Group is a full service Professional Employer Organization specializing in human resources outsourcing. As the sister company of The Executive Staffing Group, The Castleton Group provides human resources administration, regulatory compliance management, human capital management, risk assessment, benefits administration, customized training and payroll outsourcing. The Castleton Group works with business owners to improve profitability by increasing employee productivity, leverage technology to reduce time spent on employee administration, reduce employment liability, and reduce labor costs. The firm, with offices in Raleigh and Cincinnati, Ohio, is committed to excellence in human resources management and is considered one of the top PEO's in the nation. In 2005, The Castleton Group was recognized among the 50 fastest growing private companies in the Triangle by the Triangle Business Journal. For more information please call 1-800-851-8158 or visit the Web site at http://www.castletongroup.com.
Patty Briguglio
MMI Associates, Inc.
919-233-6600
patty@mmimarketing.com
###
Survey results include:
- One fifth of the 390 small businesses surveyed said their older workers are staying on past age 65. More than one third are still working because they cannot afford to retire.
- Twice that many businesses surveyed said their employees were working past 65 because they liked working or enjoyed the extra income.
- Sixteen percent of the companies that responded said employees between the ages of 60 and 64 made up 5 percent or more of their workforce.
- Three quarters of the 390 companies surveyed, reported having a 401(k) plan.
- Fewer than 2 percent had a phased retirement plan, which is a relatively recent innovation letting older workers reduce their hours while starting to draw on a pension.
- Eighteen percent of companies surveyed said their workers were delaying retirement beyond age 65.
NAPEO is the largest trade association representing more than 370 professional employer organizations nationwide. To learn more about survey results, visit http://www.napeo.org/newscenter/research.cfm.
“The Castleton Group is proud to have been a participant in the National Association of Professional Employer Organizations’ ‘Older and Wiser’ survey,” said McLamb. “The survey was a great way for the human resources industry to gain positive exposure, and it provided valuable information on retirement-related issues.”
About National Association of Professional Employer Organizations:
The National Association of Professional Employer Organizations (NAPEO), is the recognized “Voice of the PEO Industry®.” NAPEO has more than 370 PEO members found in all 50 states, representing more than 70 percent of the revenues of the $51 billion PEO industry. PEOs enable clients to cost-effectively outsource the management of human resources, employee benefits, payroll and workers’ compensation. PEO clients focus on their core competencies to maintain and grow their bottom line. To learn more about the PEO industry and how PEOs contribute to small businesses’ success, visit the NAPEO Web site at http://www.napeo.org.
About The Castleton Group:
The Castleton Group is a full service Professional Employer Organization specializing in human resources outsourcing. As the sister company of The Executive Staffing Group, The Castleton Group provides human resources administration, regulatory compliance management, human capital management, risk assessment, benefits administration, customized training and payroll outsourcing. The Castleton Group works with business owners to improve profitability by increasing employee productivity, leverage technology to reduce time spent on employee administration, reduce employment liability, and reduce labor costs. The firm, with offices in Raleigh and Cincinnati, Ohio, is committed to excellence in human resources management and is considered one of the top PEO's in the nation. In 2005, The Castleton Group was recognized among the 50 fastest growing private companies in the Triangle by the Triangle Business Journal. For more information please call 1-800-851-8158 or visit the Web site at http://www.castletongroup.com.
Patty Briguglio
MMI Associates, Inc.
919-233-6600
patty@mmimarketing.com
###
Contact
The Castleton Group
Patty Briguglio
919-233-6600
http://www.mmimarketing.com
Patty Briguglio
919-233-6600
http://www.mmimarketing.com
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