seniority

Examples of seniority in the following topics:

• Corporate Bonds

  • Senior debt, frequently issued in the form of senior notes and sometimes referred to as senior loans, is debt that takes priority over unsecured or junior debt owed by the issuer.
  • Senior debt has seniority over subordinated debt in the issuer's capital structure.
  • In the event of bankruptcy or liquidation, senior debt must be repaid before any other creditors receive payment.
  • Senior debt is often secured by collateral on which the lender has placed a first lien, which typically covers all the assets of a corporation and is frequently used in the resolution of credit lines.
  • Subordinated debt has a lower priority than the issuer's other bonds and ranks below the liquidator, government tax authorities, and senior debt holders in the hierarchy of creditors.

• Aging and Race

  • The most common form of elder abuse is neglect or improper care for vulnerable seniors.
  • Research indicates that black senior citizens are more likely to be abused than white citizens.
  • Further, medical concerns present differently for white seniors and minority seniors.
  • Black and Hispanic seniors are more likely to encounter cardiac problems earlier than white seniors.

• Aging and Wealth

  • Social Security is designed to redistribute wealth temporarily in order to help seniors finance their lives after retirement.
  • Because Medicare enrollees are, by definition, senior citizens, their healthcare costs also far higher than average.
  • Roughly 66% of seniors require some form of long-term care over their lifetimes, and 18% live in a nursing home for at least one year.
  • These disparities demonstrate the complicated problems most senior citizens encounter as they age.
  • Part of the reason both Social Security and Medicare face looming crises is the rising population of seniors.

• Age and Race

  • There is evidence that black senior citizens are more likely to be abused - both physically and psychologically and suffer greater financial exploitation than do white senior citizens.Further, recent demographic profiles suggest that social aging varies across racial groups, and demonstrates that minority elders (especially Hispanic and African American identified) typically enter later life with less education, less financial resources, and less access to health care than their white counterparts.Finally, researchers have noted that minority groups' greater likelihood of facing patterns of structural disadvantage throughout the life course, such as racial discrimination, poverty, and fewer social, political, and economic resources on average, create significant racial variations in the stages or age-related trajectories of racial minorities and majorities that may be observed at all points of the life span, and contribute to disparities in health, income, self-perceived age, mortality, and morbidity.

• Working with Management

  • In most models of management and governance, shareholders vote for the board of directors, and the board then hires senior management.
  • Senior management is generally a team of individuals at the highest level of organizational management who have the day-to-day responsibility of managing a company.
  • There are most often higher levels of responsibility, such as a board of directors and those who own the company (shareholders), but they focus on managing the senior management instead of the day-to-day activities of the business.
  • Senior management works on a very tight schedule and would prefer to focus only on the most important details of a project or process.

• Promotions

  • In many companies and public service organizations, more senior positions have a different title: an analyst who is promoted becomes a principal analyst, an economist becomes a senior economist, and an associate professor becomes a full professor.
  • In other industries, especially in private sector companies, a promotion to senior management may carry a number of benefits, such as stock options, a reserved parking space, a corner office with a secretary, and bonus pay for good performance.
  • For example, a policy analyst in the federal government who is promoted to the post of senior policy analyst will continue to do similar tasks such as writing briefing notes and carrying out policy research.
  • For example, whereas a staff engineer in a civil engineering firm will spend their time doing engineering inspections and working with blueprints, a senior engineer may spend most of their day in meetings with senior managers and reading financial reports.
  • In some parts of the private sector, the senior management has a very high level of discretion to award promotions.

• Decentralization

  • Decentralization is the policy of delegating decision-making authority down to the lower levels in an organization, away from senior management and more broadly across the organization.
  • One of the major advantages of this type of management structure, assuming the correct controls are in place, is the bottom-to-top flow of information, allowing the decisions made by the senior management to be better informed about what is happening in the lower tier operations.
  • For example, if an experienced technician at the bottom of an organization discovers how to potentially increase the efficiency of production, the bottom-to-top flow of information can allow this knowledge to more easily be passed back up to senior management.

• Civil Rights of the Elderly

  • The elderly, or senior citizens, are vulnerable to civil rights abuses due to a propensity for sickness, disability, and poverty.
  • The elderly, sometimes referred to as senior citizens in the United States, are a demographic group usually defined by being retired or over the retirement age (which is dependent on life expectancy changes).

• Employee Promotions

  • Promotions are often a result of good employee performance and/or loyalty (usually via seniority).
  • This means that the more senior position has a different title.
  • Generally speaking, there are more procedural safeguards against preferential treatment in the public sector as compared with the private sector, where senior managers enjoy broad discretion in making promotions.

• Social Isolation

  • Any individual from any segment of society may be socially isolated, but senior citizens are especially susceptible to the risk factors that may trigger social isolation.
  • Studies have demonstrated that seniors who are socially isolated seniors are less likely to take advantage of health and social services.