Hiring a Mature Workforce
Recent research indicates that 70 percent of baby boomers plan to remain in the workforce past the traditional retirement age of 65. This is good news for today’s employers, as the contributions of mature workers can positively impact your business success and bottom line for years to come.
Most mature workers bring the benefit of insight that comes from years of experience, often in varied environments. This tends to translate into better attendance records, productivity and customer service, as well as higher levels of loyalty, reliability and dependability.
In another study:
- 91 percent of responding employers said they viewed mature employees as more reliable than their younger counterparts, and 88 percent said they were more professional.
- Hiring managers said they were three times (60 percent) more likely to hire mature workers than millennials (20 percent) across various industries.
The Value of Experience
Motivation and engagement often increase with an individual’s age and length of work experience. Workers aged 55 and above have proven to be the most motivated of all employees, while their youngest peers are at the opposite end of the spectrum.
Among the additional benefits of hiring a mature workforce are:
- Dedication: Mature employees tend to produce higher-quality work, which results in significant cost savings. Countless cases have been cited of more experienced team members finding others’ mistakes before they became major issues.
- Efficiency and confidence: More experienced workers are open to sharing their ideas and recommendations with others. Their years of experience give them superior understanding of how jobs can be done more efficiently.
- Calmness under pressure. An intangible value offered by mature workers is their ability to function as mentors and role models. They tend to get less rattled when problems or crises occur, setting the right tone for their entire teams.
- Communication skills: Knowing when and how to communicate evolves through years of experience. This includes the ability to grasp workplace politics and diplomatically convey suggestions.
- Lower turnover rates: According to the U.S. Bureau of Labor Statistics, the median job tenure for workers aged 55 to 64 is 3.3 times that of those aged 25 to 34.
Weighing the Pros and Cons
Both hiring barriers and recruitment opportunities exist in all age groups. Ultimately, it comes down to finding the right person for the right position, at the right time and cost.
- Thirty-nine percent of employers surveyed said the greatest challenge to hiring mature workers was their difficulty in adapting to new technology. This was far outweighed by 75 percent of them reporting that “posting potentially compromising content on social media” as a major liability of millennials.
- Fifty-one percent of hiring managers listed mature workers’ biggest interview mistake as high salary and compensation demands. At the same time, 46 percent said they viewed millennials’ unknown long-term commitment to a company as their biggest potential liability.
When it comes to managing your multigenerational workforce and crafting the hiring strategy that works best for your organization, it helps to partner with a staffing professional who knows your business and specializes in your unique needs. Talent Bridge offers global experience with local ownership, with resources regionally, nationally and globally to help you achieve ongoing success. Contact us today to learn more.