Thursday, October 1, 2020

Consider Hiring an Older Skilled Worker

Until recently, companies had smaller budgets, which led to some people being promoted into higher positions or management with little experience. However, good workers do not always make effective managers. To stay competitive in today's marketplace, companies now need to make an effort to attract and retain older workers.

Here are some reasons to attract older workers:

A Less Risky Hire
Companies invest many hours and financial resources into the screening, hiring and training of new employees, only to find that many employees leave for “greener pastures” in order to ascend through their career path. Older workers tend to be more interested in stability where younger workers might be more concerned about moving up the corporate ladder as quickly as possible. In addition, making a poor employee selection will cause your management to look poorly upon you and your decision.

They Are Focused
Older people have been working their entire adult life and are often not searching for the next opportunity at another company or a new role like younger workers. They know exactly what they want to do, are typically satisfied with a good work opportunity, and are focused on getting the work done. 

Compared to their younger colleagues, older workers have years of experience you can't teach or replace. Maturity comes from years of life and work experiences, and makes for workers who get less "rattled" when problems occur.

Their years of experience in the workplace give older workers a superior understanding of how jobs can be done more efficiently, which saves companies money. Companies can save the cost of many man hours lost to inefficiency.

Older workers have confidence, built up through the years, which means they won't hesitate to share their ideas with management. People without that confidence may keep their ideas to themselves because of an irrational concern that they won't get credit for their ideas.

Battle Tested 
Many industries are cyclical and older workers have experienced the highs and lows, making them more the wiser. The great recession and housing market crash of 2008 was something the country also experienced in the early 1980s. Old members of the workforce learned valuable lessons that helped them weather the recent economic storm and prepare their companies for the next one.

They Have Strong Networks
Older workers have been in the workforce longer and they've had more time to meet people and network along the way. Hence, they have stronger professional network of clients, vendors, partners and other professionals that serve within their industry.

Reduced Labor Costs 
Some older workers have insurance plans from prior employers or from a spouse/partner. In addition, some have an additional source of income and are willing to take a little less to get the job they want. They understand that working for a company can be about much more than just collecting a paycheck.

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David Schuchman