As America approaches 2012 when the largest sector of the country’s population will be baby boomers, employers need to work hard to retain the talent and resource of these workers, said Michele Kimball, state director for AARP Minnesota.

Labor shortages are projected in a growing number of areas, and it will be important to keep the knowledge and skills of older workers on board, she said.

Kimball was one of several speakers and panelists on Wednesday in a regional conference hosted by the Southern Minnesota Initiative Foundation on engaging elders in the workforce.

At least 130 employers, economic developers, community leaders, nonprofit leaders and educational leaders attended the event at the Wedgewood Cove Golf Club.

The conference, “Older Workers Leading Success,” focused on the economic benefits of older workers and dispelled some common myths about older workers.

Kimball said while many people think an older worker is someone classified as 55 or older, the Age Discrimination in Employment Act of 1967 protects all workers age 40 and older.

The average age of CEOs in the country is 56 and the average age of members of Congress is 58, she said. Workers are getting older.

She went through a series of other myths.

While some people think older workers are exceedingly more expensive to employ, they are actually only marginally more expensive, Kimball said.

Older workers have superior customer-relations skills and are equally or more productive than younger workers.

She said older workers call in sick less often, specifically an average of 3.1 days a year for workers over 45 compared to an average of 3.8 days a year for workers under 45.

Older workers are vital to knowledge transfer and are effective at sharing information and guiding younger employees, Kimball added.

It is critical to set aside assumptions about this part of the workforce that are not supported by facts, she said.

She noted employers should care about this information because the workforce and population as a whole are aging. Many workers intend to continue working beyond traditional retirement age, not only because of the economy but so they can have health insurance coverage as well.

“It’s an issue that’s rapidly gaining awareness,” said Southern Minnesota Initiative Foundation President Tim Penny.

Penny said in many respects older workers are not unlike younger workers.

They don’t necessarily cost more, and they bring assets of skills and leadership.

“They bring added value to the employer,” he said.

However, Penny said, in light of the recession, older workers are having an even harder time than younger workers in getting re-employed after layoffs or retirements. This has begun to gain more attention recently.

Also presenting at the conference were Paula J. Norbom, president of Vallon LifeScience, LaRhae Knatterud, director of the Transform 2010 Initiative with the Minnesota Department of Human Services, and a series of guest panelists.

Presentations included discussion about the legal issues and financial implications of employing older workers, how employers are realizing the benefits of employing older workers, and what the existing resources are for older workers and their employers.

Albert Lea City Manager Victoria Simonsen also made a presentation about the AARP/Blue Zones Vitality Project.

Explaining the background of the project, she said there are about 5,000 people participating in the project in one form or another, which aims to add healthy years of life to its participants.

When the pilot project wraps up in October, the community “fully plans to keep this project going,” Simonsen said.

Southern Minnesota Initiative Foundation President Tim Penny facilitated the conference.

Penny said he was excited to sponsor the dialogue about older workers leading success.

As part of its focus on engaging elders in the workforce, the foundation is offering two $25,000 grants to capitalize on the assets of older workers within the region. The collaboration must include an employer, an educational institution and a nonprofit agency.

Penny said the foundation believes that engaging elders in the workforce is one of the best ways to assure future regional economic growth.

Southern Minnesota Initiative Foundation can be found online at www.smifoundation.org.