If you don’t have older people on staff,
you could be losing out on a valuable
way for your company to save money and improve competitiveness.
With people living much longer, retiring
at 62 or 65 is no longer an attractive
option for many. Many older people want
and/or need to keep working. Over the
next decade or so, this changing landscape in the work force will require new
ways of thinking.
“Many companies are passing up a very
valuable resource — our older adults,”
says Jerry M. Bladdick, a gerontology
instructor and vice president for graduate and adult enrollment at Fontbonne
University. “Older adults bring knowledge, experience, dedication and loyalty
to the workplace that is often lacking in
younger people today. There are many
benefits to hiring older workers, and it
can be a win-win for everyone.”
Smart Business spoke to Bladdick
about what companies need to know
about older workers and how they can
begin to take advantage of this tremendous opportunity.
Why are older people looking for work or to
re-enter the work force after retiring?
Many older adults don’t want to retire
in the first place but feel compelled to do
so because it is the normal thing to do
when one reaches 55, 62 or 65 years of
age. Some older adults are even forced
out of work, and some become semi-retired or what is also known as part-time retired.
Regardless of what you call it, there are
as many reasons why older adults want
to come out of retirement as there are
older adults. Many seniors use part-time
or even full-time employment as a form
of socialization, others need additional
income or benefits, and some simply just
want to work, saying it keeps the mind,
body and spirit from decaying.
We are living longer and healthier than
ever before, and, for some, the thought of
spending 20, 30 or even 40 years in a state
of retirement is just not an acceptable
alternative.
How do companies benefit by hiring older
workers?
Older workers are in hot demand by
companies that recognize their value.
Many companies realize that paying a senior saves money because they don’t have
to train new hires. Older workers have a
history of being on time for work, take
less sick days and, very often, don’t have
to contend with the domestic matters that
younger employees have to deal with.
When compared to many younger workers, older workers are more productive,
have a higher sense of pride and loyalty,
and have outstanding customer service
skills. Often their schedule is flexible.
They don’t mind working early in the
morning or on weekends.
How can companies attract older talent?
The best place for a company to find
older employees who are most familiar
with their line of work/business is to start
in house. Look at who is getting ready to
retire and invite them to stay. Second, contact former employees to see if they have any interest in coming back to work on a
temporary, part-time or full-time basis.
Do older workers have any special needs?
Most of the time, older adults want a fair
wage and some flexibility in regard to
where they work, when they work and
how much they work. And, in some cases,
they may ask for benefits, summers off,
no weekends or maybe they only want to
work weekends. In order for this to be a
win-win for the employer and employee,
both will need to do some giving.
Can older workers give a company a competitive edge?
They sure can. First, many older workers have experience they want to share
with their younger co-workers — that
knowledge base saves time and money.
Second, having several generations in the
work place makes for a diverse setting,
and diversity increases competitiveness.
Finally, contrary to what some might
believe, older workers are not afraid of
technology. When you tap existing knowledge and fuse it with today’s technology,
can you imagine the possibilities?
Where do you see this trend heading in the
future?
Some statistics state that as many as half
of all individuals over 45 believe they will
work well into their 70s, if not until they
die, and four out of 10 seniors say the
same thing. As we continue to live longer
and run the chance of out-living our retirement savings and with inflation running
wild these days, I see more and more
older folks wanting to work. In addition, I
want to believe that corporate America
will welcome these very talented and hard
workers and, when necessary, make special accommodations for them. I truly
believe that companies that don’t
embrace an older work force are just
plain missing the boat.
JERRY M. BLADDICK is a gerontology instructor and vice president for graduate and adult enrollment at Fontbonne University. Reach
him at (314) 719-3670 or [email protected].
