More Than Just a Job

AARP's top firms for those 50 and older emphasize workplace flexibility, health

With 14.9 million Americans out of work and the unemployment rate at a 26-year-high of 9.7%, plenty of people are happy simply to have a job, never mind any special perks. But even in this economic downturn, the companies on AARP's list of top 50 "best workplaces" for people over 50 go a long way to make life a little easier for their workers.

At Cornell University -- No. 1 on the list for the second year in a row -- workers have the option to telecommute or work compressed weeks. They can take paid-time-off for care-giving, and participate in a wellness program that includes consulting with a doctor to develop a written exercise and nutrition plan. Workers have access to campus fitness centers and swimming pools, plus nutrition and exercise classes.

About 36% of the school's workers are over 50.

Meanwhile, Cornell's retirees enjoy a health-insurance and drug plan subsidized by the university, plus access to free classes at the school, and a program that helps them find part-time work if they want it -- either on campus or off.

And though the school has been forced to lay off some workers during the downturn, it's working to do it's best for those who remain, said Mary Opperman, vice president for human resources at Cornell University.

"We don't have the money to add expensive programs or do things that require a lot of dollars, but that doesn't mean that our values or our principles wane," Opperman said. "If you want your work force to be loyal, you have to be loyal to your work force."

Benefiting Old and Young Alike

Companies that aim to improve conditions for workers 50-and-older also tend to be good places for other employees too.

"A lot of the policies and practices that we highlight with this award are not just good for older workers but for all workers," said Deborah Russell, director of work-force issues at AARP.

At First Horizon National Corp., the financial-services firm at No. 2 on AARP's list this year, a program that lets eligible workers phase into retirement also lets employees phase into working more hours -- for example, after taking time off to have kids.

"After you're with our company for one year you can apply for a 'prime-time schedule,'" said Vicki Dye, a culture and work-life manager at First Horizon National, in Memphis, Tenn. "This works for a working mother phasing back into the work force as well as for older workers who want to phase into retirement," she said, noting that workers who qualify can drop to as little as 20 hours a week and still maintain full-time benefits.

"Our work-force flexibility is one of our greatest and most utilized benefits for all employees of any age," Dye said.

And older worker sometimes appreciate benefits aimed at younger workers: One 52-year-old employee took advantage of First Horizon's up-to-$3,000-per-year tuition reimbursement to get her college degree. The company also employs a "retiree employee relations manager" to help workers of all ages plan for retirement. About 27% of the firm's employees are 50 or older.

First Horizon also offer a job-share program, and a "flexible dollars" program -- essentially, workers are given money they can use to pay for out-of-pocket health-care or other benefit costs, or to contribute to their retirement plan. The company spends an average of about $2,500 per worker each year through the program.

Tech Happy

Intel Corp. -- No. 44 on AARP's list and one of the few technology firms included -- also offers flexibility, including compressed work weeks, telecommuting and working flexible hours.

Plus, the Santa Clara, Calif.-based firm gives workers access to resources and support for their care-giving needs, whether for aging parents or younger children -- or both.

"Many of those around or over 50 are in that sandwich generation, caring for older parents or relatives as well as their children," said Dana Vandecoevering, a work-life program manager at Intel.

"A growing number of our employees are caring for elderly relatives," she said. About 20% of the firm's U.S.-based work force is 50 or older.

Health, too, is a key focus at Intel. Workers can get a check-up right on site at the larger Intel offices. Then they complete a health-risk assessment, and meet with a wellness coach. "You can ... develop with them a personalized program. It's all on site. It's very convenient. And at each step of the way you get a $25 gift card," Vandecoevering said.

Along with an emphasis on wellness, and seminars that help workers prepare for retirement, Intel also offers 12 weeks of unpaid "life event" leave for those dealing with family emergencies -- for example, if one parent dies and the other one needs help moving to a new home, Vandecoevering said.

Top 50 Employers for Workers Over 50

Companies interested in being considered for AARP's list fill out an application, including a detailed questionnaire. Their answers are scored, and then a panel of independent judges reviews the results. Each finalist is vetted by AARP representatives. A total of 202 companies -- more than in any other year -- applied for this year's list.

The following are the top 50 employers for workers over age 50, according to AARP.

1. Cornell University, Ithaca, N.Y.
2. First Horizon National Corp., Memphis, Tenn.
3. National Institutes of Health, Bethesda, Md.
4. The YMCA of Greater Rochester, Rochester, N.Y.
5. National Rural Electric Cooperative Association, Arlington, Va.
6. S. C. Johnson & Son Inc., Racine, Wis.
7. Massachusetts Institute of Technology, Cambridge, Mass.
8. Stanley Consultants, Muscatine, Iowa
9. Brevard Public Schools, Viera, Fla.
10. George Mason University, Fairfax, Va.
11. City of Glendale, Arizona, Glendale, Ariz.
12. Securian, St. Paul, Minn.
13. Department of Veterans Affairs, Veterans Health Administration, Washington, D.C.
14. Nevada Federal Credit Union, Las Vegas, Nev.
15. Pinnacol Assurance, Denver, Colo.
16. Oklahoma City University, Oklahoma City, Okla.
17. Intuitive Research and Technology Corp., Huntsville, Ala.
18. Blue Cross and Blue Shield of North Carolina, Durham, N.C.
19. DentaQuest, Charlestown, Mass.
20. Adecco Group North America, Melville, N.Y.
21. Manheim, Atlanta, Ga.
22. Commonwealth of Massachusetts--Executive Branch, Boston, Mass.
23. Lee County Electric Cooperative, N. Ft. Myers, Fla.
24. Virginia Commonwealth University, Richmond, Va.
25. GlaxoSmithKline, Research Triangle Park, N.C.
26. The Aerospace Corporation, El Segundo, Calif.
27. ACUITY, Sheboygan, Wis.
28. Harvard University, Cambridge, Mass.
29. Pepco Holdings Inc., Washington, D.C.
30. F.E.G.S. Health and Human Services System, New York, N.Y.
31. San Antonio Lighthouse for the Blind, San Antonio, Texas
32. Horizon Blue Cross Blue Shield of New Jersey, Newark, N.J.
33. University of Pittsburgh, Pittsburgh, Penn.
34. Solix Inc., Whippany, N.J.
35. Avis Budget Car Rental LLC, Parsippany, N.J.
36. S&T Bank, Indiana, Pa.
37. Michelin North America, Greenville, S.C.
38. Pearson, Upper Saddle River, N.J.
39. Corinthian Colleges Inc., Santa Ana, Calif.
40. FCCI Insurance Group, Sarasota, Fla.
41. Hanson Professional Services Inc., Springfield, Ill.
42. Union Bank, San Francisco, Calif.
43. MEI Technologies Inc., Houston, Texas
44. Intel Corp., Santa Clara, Calif.
45. FINRA, Washington, D.C.
46. Winston-Salem Industries for the Blind Inc., Winston-Salem, N.C.
47. GA Department of Human Resources, Atlanta, Ga.
48. Express Employment Professionals, Oklahoma City, Okla.
49. Prestige Services Inc., Clifton Park, N.Y.
50. University of St. Thomas, Houston, Texas

A separate list for health-care companies

This year for the first time, AARP created a separate list of top workplaces in the health-care field. These companies are "really ahead of the curve in looking for innovative ways that they can meet the needs of their work force," AARP's Russell said.

Among other things, health-care firms are redesigning their workplaces for older workers, offering flexible hours and ongoing training opportunities, encouraging mentoring among older and younger workers, and recruiting retired workers, Russell said. "These are very strong policies," she said, "so we felt that it was important to have a list that separates them out."

Here's AARP's list of top 15 workplaces in the health-care field for workers 50 and over:

1. Atlantic Health, Morristown, N.J.
2. Lee Memorial Health System, Fort Myers, Fla.
3. Mercy Health System, Janesville, Wis.
4. Bon Scours Richmond Health System, Richmond, Va.
5. Jennings Center for Older Adults, Garfield Heights, Ohio
6. Well Star Health System, Marietta, Ga.
7. Scripps Health, San Diego, Calif.
8. Tracheal Inc., Cincinnati, Ohio
9. University of Texas M. D. Anderson Cancer Center, Houston, Texas
10. West Virginia University Hospitals, Morgantown, W. Va.
11. Pinnacle Health System, Harrisburg, Pa.
12. Northern Michigan Regional Health Systems, Petoskey, Mich.
13. MidMichigan Health, Midland, Mich.
14. Central Florida Health Alliance, Leesburg, Fla.
15. Saint Vincent Health System, Erie, Pa.

For more information on AARP's 2009 Best Employers, go to AARP.org/best employers.

Andrea Coombes is an assistant personal finance editor for MarketWatch, based in San Francisco.