The scale of aging in the population due to increased life expectancies has become one of the most significant challenges facing organizations. This applies as much to the public sector, where budgets are already under pressure, as it does to companies in the private sector where economic growth is driven by a constant stream of innovations.
While there is an obvious negative impact due to the increased costs associated with longer retirements, there are many positive outcomes that should be considered. Older workers have vast experience and extensive knowledge of a company’s processes, products, and consumers that can’t be matched by their younger counterparts.
And as people continue working well into their retirement years (or decide to return after having retired), it becomes vital to make the best use of these older talents.
This is especially true for companies operating in service industries where experience and expertise are most critical. When organizations focus too heavily on hiring young workers, they also lose valuable perspectives and insights that middle-aged and older employees bring to the table.
Benefits of Hiring Older Leaders and Talents
What are the things that older leaders and talents have that the young ones don’t? Here are 16 things that can let you see the difference between the two.
1. Older workers are skilled and experienced.
They have what it takes to get the job done and they can rely on years of training to do so. Employees over 50 years old make up between 30% – 40% of all employees in the U.S., and most managers are part of this age group as well, so discrimination is not a matter of concern.
2. Older workers are tolerant of diversity and changes
Older workers are tolerant of diversity and changes which is very important in the current market where new technologies are introduced constantly, companies have to be open to change, flexible, and adaptable to survive. Older workers have already accepted the fact that nothing will stay the same for a long time.
3. They Value Time
In both the US and Europe, older workers are staying in their jobs longer. In addition, they take fewer sick days than their younger colleagues do. In the US, 16.6% of all employees are absent from work due to illness or disability on any given day, but for older workers, this percentage is lower at 14.5%.
4. Work Ethic is a Priority
Older workers have a strong work ethic and are less likely to take sick leaves or complain of health problems as they are more concerned about their work. On average, they are more productive than younger employees and considerably safer in the workplace.
5. They can Interacts and Retain Skills and Knowledge
Older workers are valuable assets as they retain the company’s knowledge and networks which is so necessary in today’s business world. Their extensive experience means that they know not only the workings of their own department, but how their department or unit interacts with other departments within an organization.
6. Technology Gap is not really a Gap
There is a commonly held belief that older workers have skill-sets that are no longer relevant in today’s fast-paced, technologically driven economy. However, this can be easily overcome through training programs and creating opportunities for experience sharing between generations.
7. Believes in Multigenerational Workforce
Older workers prove that the best teams are multigenerational and where everyone contributes something different. They bring a wealth of experience and thoughts together with fresh ideas and creativity that can lead to new business opportunities.
8. Workers play a critical role in training the next generation of workers
Older workers play a critical role in training the next generation of workers. When you hire experienced talent, they can share their knowledge and skills with new employees or interns to help them develop, which helps improve productivity across an organization.
9. They provide customers with consistency and personal attention
Older workers provide customers with consistency and personal attention which is so important in today’s economy. It also helps alleviate the pressure on younger employees who are often under more stress to handle multiple tasks simultaneously.
10. Older workers attract more business and enhance the company’s image
Older workers attract more business and enhance the company’s image and branding in DEI, especially if they are seen to be in leadership positions. This is a positive way of helping to address the impact of an aging population on the future workforce.
11. Older workers are part of the business brand
Older workers are part of the business brand and they can help to connect with consumers on a personal level which is so important in today’s market. This helps to strengthen consumer trust and loyalty, especially for businesses that want to be associated with older customers.
12. Older workers are strong communication channels with the media and customers
Older workers are strong communication channels with the media and customers, which helps to promote an organization’s brand awareness. They have greater influence when it comes to media coverage as they are regarded as being more trustworthy than younger colleagues.
13. Older workers are part of the community and local economy
Older workers are part of the community and local economy and they can help organizations reach out to a wider geographical audience, especially if they have a wide customer base. In today’s world companies need to be able to work efficiently across different time zones so that customers are always able to get in touch with them. Hiring older workers can help panelists to provide services across different time zones.
14. Older workers have decades of experience at the helm
Older workers have decades of experience at the helm, which makes them well suited to leadership roles that they are able to share with younger employees and interns. This helps develop a sense of responsibility and discipline, which contributes to the overall success of an organization.
15. Innovate by taking risks
Innovation by taking risks, and those are opportunities that may not be available to younger workers. When it comes to the creation of new products or services older workers tend to have more integrated skillsets and they understand how a business works from start to finish.
16. Natural aptitude for technology
Older workers have a natural aptitude for technology which makes them an asset when it comes to designing new products and services. They can draw on their experience working with different types of technology throughout the years so that they can make recommendations that will help organizations move forward.
Misconceptions to Correct about Having Old Leaders in the Workplace
“Older” is not “outdated”. Ageism in the workforce can be unconscious. If you want to create a welcoming environment for everyone, regardless of age, you may need to address how older workers are perceived within your company.
It’s OK to ask people about their experience; just don’t frame it as a question about age. To avoid being offensive or discriminatory, turn the question around and ask: “What have you learned in your career?” If you think a candidate’s experience is valuable, why not ask for it?
1. Older workers want a slower pace than what is in the market.
This is definitely not true, there are many older leaders that can keep up with the fast-paced environment as much as any younger worker could do. They may have better planning and organization skills; this helps them to accomplish the tasks at hand so they can move on to the next thing.
2. Older workers are not able to adapt and adopt newer technologies as well.
There are many older leaders that can keep up with the fast-paced environment as much as any younger worker could do. They may have better planning and organization skills, this helps them to accomplish their tasks at hand so they can move on to the next thing.
3. Older workers may have family and other commitments that might prevent them from working long hours.
There are many older leaders that can handle stress, they are also very flexible when it comes to the hours of their jobs. They prioritize tasks, plus they can multi-task so it makes sense for organizations to hire more older managers and leaders.
4. Older workers demand high salaries than what’s paid to younger people.
This is not true, many employees from any age group are happy to work for the salary being offered as long as they are commensurate with their skills and experience. They may expect a lower wage if there are no suitable roles available in the market.
However, if they are offered a very low amount of salary they will not take that offer because it does not fit within their budget or lifestyle.
5. Older workers may become less productive as time goes by and cannot keep up with changing technology and workplace standards.
Believe it or not many older leaders have been able to work for many years through different technologies. They can teach new employees how to operate specific machines and software that are required in their jobs.
6. Older workers cannot physically do the job as younger people can do it.
Many older leaders have been able to work for many years through different technologies. They can teach new employees how to operate specific machines and software that are required in their jobs.
Remember, ageism is illegal. If you have a policy of only hiring younger workers, it’s time to rethink what comes into your business. Older workers bring much more than just experience. They can help your organization reduce costs, create innovative products and services and develop an outstanding reputation within the community.
Staffing older workers can help you balance your workforce and achieve diversity in your business. They are a very valuable resource for a company when it comes to their experience with different technologies because they’re able to make recommendations that will help organizations move forward.
Start to attract older workers and help them thrive in new roles
As a manager, you may be tempted to hire young people and give them a chance at a promising career. This is probably the right choice for lots of reasons including potential growth in experience, bright-eyed enthusiasm, and energy that can fuel the business. But it’s also important to consider adding some senior workers or older employees to your team. There are many reasons why this is a good idea.
First of all, older employees are often a better fit for many jobs because they have more existing skills and knowledge that you can utilize. They also tend to be more skilled at communicating with others in the office, which is important in today’s business world where information must flow smoothly between departments and managers. Many older workers also appreciate the chance to focus on one job, which can help make them better employees.
It’s also a great idea to hire more older workers because many employers are finding that it simply makes business sense. For example, by 2016, 47% of all American workers will be over the age of 50. This means that these workers will command more responsibility and larger salaries.
Hire older workers because they are in demand from many other companies, too.
Another great reason to hire more senior employees is that it’s actually good for business. Older workers make up a large portion of experienced or skilled people in the workforce, so many companies would love to have them on their teams. There has been a growing movement in recent years to hire older workers because they’re one of the best ways for companies to increase productivity and lower their turnover rate.
Older workers are also often great at creating strong company cultures, which can be a huge business asset.So even if you aren’t old yourself, think about hiring more mature employees. They might just make your company better.
Management and HRD must consider hiring older workers as the article suggested, because it is a good idea for many reasons that can be beneficial to everyone involved from the employee’s point of view who deserves employment, and work environment that is matured or senior-oriented will help ease the onboarding process and management who will not be facing a high turnover rate.
However, for those companies that have a specific reason to keep their employees young, then they can still consider restructuring their age groups or create other conditions according to the status quo like part-timer options in order not to upset some of their employees.
Age discrimination is common but baseless. It is not illegal to favor younger workers, but it is illegal to discriminate against older workers. If you prefer younger applicants, say so. If you choose not to consider older applicants, be prepared for a lawsuit.
When a candidate discloses their age in the job interview process or on their resume, there is no law that requires a company to set aside preconceived age-based notions and evaluate that job applicant on the basis of their qualifications.
Even in the absence of discrimination, you can lose a lawsuit for failing to hire an older worker who is overqualified or for choosing not to promote an older worker who’s qualified. A company with layoffs should consider whether it would be more cost-effective to retain older, over-qualified employees rather than dismiss them and incur legal expenses to defend against age discrimination lawsuits.
Do not eliminate qualified applicants because of their age without having a legitimate business reason for doing so. You can’t refuse to consider job candidates over 40, nor can you hire younger workers instead because they might work longer for the company, or because younger workers are “better educated.”
To sum everything up, companies should hire more employees who are aging because it benefits the company from many different perspectives. It also benefits potential employees because they will be able to gain more experience and knowledge in their field of choice when working for a company that hires older employees as well. Attracting new senior workers is also good for business because they often have more skills and knowledge, are better communicators, create strong company cultures, contribute to increased productivity, and decrease turnover rates.
Hiring older workers is a great idea for many reasons. It’s important that management take this into consideration when hiring new employees so companies can better benefit from the hiring process as well as their employees. It’s a win-win situation for everyone involved!
Aging and Older workers
Why should you hire more ageing and older workers?
- 1. Older workers are skilled and experienced.
- 2. Older workers are tolerant of diversity and changes
- 3. They Value Time
- 4. Work Ethic is a Priority
- 5. They can Interacts and Retain Skills and Knowledge
- 6. Technology Gap is not really a Gap
- 7. Believes in Multigenerational Workforce
- 8. Workers play a critical role in training the next generation of workers
- 9. They provide customers with consistency and personal attention
- 10. Older workers attract more business and enhance the company’s image
- 11. Older workers are part of the business brand
- 12. Older workers are strong communication channels with the media and customers
- 13. Older workers are part of the community and local economy
- 14. Older workers have decades of experience at the helm
- 15. Innovate by taking risks
- 16. Natural aptitude for technology
What are the wrong stereotypes about older workers?
- 1. Older workers want a slower pace than what is in the market.
- 2. Older workers are not able to adapt and adopt newer technologies as well.
- 3. Older workers may have family and other commitments that might prevent them from working long hours.
- 4. Older workers demand high salaries than what’s paid to younger people.
- 5. Older workers may become less productive as time goes by and cannot keep up with changing technology and workplace standards.
- 6. Older workers cannot physically do the job as younger people can do it.