The next time you need to make a hiring decision, you should seriously consider the added value of the 50+ workforce.
The Department of Work and Pensions forecast a third of the workforce will be aged over 55 by 2020. Now’s the time to sit up and pay attention to the many advantages of bringing older people into the fold because their contribution to your company could positively impact your bottom line for years to come.
Views on the value of older workers vary dramatically amongst employers. Some argue that older workers cost their business more and offer less. Not true. Apart from a few high-end professional positions, average wages for women peak in their late 30’s (late 40’s for men). Meaning that despite many additional years of valuable experience we actually get cheaper with age.
As the years go by we learn more and more about what makes us happiest in our working life and the kind of roles and challenges that suit us best.
Workers in their 20’s can expect to have an average of 6 different job roles in 6 different companies during their career.
Given that the cost of repeatedly recruiting – post resignation down time, candidate selection, interviewing, induction and training – is potentially ruinous, for business and for morale, it makes good commercial sense to hire someone who knows a great job when they see one.
Years of work experience add up, and hindsight is at its most useful when used to inform process. Older workers have a greater grasp of efficiency – and the confidence that comes from knowing (rather than guessing) what works, means they’re likely to feel very comfortable sharing their ideas with management.
People spend a lifetime learning to choose their battles wisely. By demonstrating the value of perspective in workplace politics, an older colleague can influence the stability and personal resilience of younger employees.
A workplace full of fresh faced fast thinkers is a joy to behold, but balance and great instincts hardly ever top the typical 20 something skills list.
One of most meaningful advantages of ageing is the ability to listen and reflect. The right older worker will bring more than their fair share of common sense and equilibrium to the table.
Millennials with leadership qualities are a rare find., but millennials with refined leadership skills and applied experience are even rarer.
Millennials with refined leadership skills and applied experience are even rarer.
Life and work experience, genuine dedication to the company and a desire to make a difference are all qualities that can make older workers great mentors, trainers, counsellors and business backstops.
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