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What are the costs of non-compliance?

The Equal Employment Opportunity Commission reported that in 2010, Fortune 500 companies lost over $96.3 due to age discrimination in employment actions, an increase from $72.1 in 2009.

These figures only include systemic expenses and do not include the additional costs of monetary awards through litigation.

Driving older workers away during their productive years is costing companies in terms of training expense, lower productivity, and separation benefits.

Examples of the cost of non-compliance:

ABC, CBS. Columbia, DreamWorks, NBC Universal and Warner Brothers are among 17 entertainment companies and talent agencies involved in 19 age discrimination cases brought by Hollywood television writers. $70 million settlement

3M of Minnesota paid out over $12 million. 3M is also ordered to report compliance to the EEOC over the next 3 years.

Massy Energy of Richmond, Virginia paid $8.75 million in a settlement to 200 miners.

Republic Services, Inc. of Nevada paid nearly $3 million in lawsuits brought by 21 trash collectors and supervisors.

TRW paid $2 million after a jury verdict included punitive damages in a case brought by a 62 year old test engineer laid off after 20 years on the job.

Google, Sears, Lockheed, Honeywell, and Eastman Kodak have also been negatively impacted by failing to address corporate gerontology best practices. The fact that so many Fortune 500 companies have lost so many age discrimination cases indicates that there are systemic issues to be addressed.

GeroBiz assesses clients' workplace practices through an age discrimination audit that might have flagged these practices, and helped to prevent or reduce the consequent losses.

"GeroBiz helped my firm recover from a potentially serious aging issue at work, and I saved countless hours with Wendy Goldman's help." Michael Millman, West Los Angeles