Well, one thing is for sure, the dynamics of the workforce are changing. Unfortunately, some older workers are unable to retire due to financial reasons, while others have adult children to support. Studies show people are living longer, adopting healthier lifestyles, and not looking for full retirement. When you combine these factors with the convenience of more alternative work schedules, many older workers will want to continue working. A part-time job with flexible work hours is very attractive to the older worker. Therefore, the bottom line is - older workers want to stay active and engaged in the workforce longer than ever before.
So how do employers respond to these trending facts about older workers? What effects does this trend have on the hiring of older workers and the workplace? Let’s look at some facts…
According to U.S. News and World Report, 70 percent of human resource experts believe older workers have a strong work ethic.
The Society for Human Resource Management found that workers over 50 show greater job engagement than younger workers.
According to AARP, older workers have lower turnover rates and company cost to train new workers is decreased.
With that said, how do employers keep ahead of the game? There is no doubt employers are recognizing the benefits of hiring older workers in their companies. From possessing a greater sense of professionalism to having a wealth of experience and a diverse skill set, hiring an older worker is attractive to the employer who is looking for stability within their workforce.
According to Monster.com, here are some ways for employers to keep up with what’s trending about older workers in the workforce. Employers can increase the hiring of part-time, highly experienced older workers to replace those individuals who are choosing to retire. This group of workers will become an asset to companies that want to stay ahead. Next, employers can invest in older workforce strategies to keep the valuable knowledge and skills of older workers within their business. The key is to act quickly before older workers plan for the next steps of their working lives with competing companies! Lastly, train managers who are responsible for the operations of the company to ensure they keep the older staff working within their expertise.
Older workers are value-added and a hot commodity in the workforce! They continue to pave the way for those coming up behind them, and they are a force to be reckoned with. As cheerleaders for hiring older workers, we can share these trends with the business community to bring awareness about how older workers are an asset and the value they bring to the workplace.
Share your insights about what’s trending with older workers in your community and how you can increase awareness with employers.