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Australians are working longer and to an older age in a time where more employers are recognising the benefits of an older workforce.
Today the average Australian is expected to live 15-20 years beyond the retirement age of 65, with an estimated quarter of our population being 65 years and older by 2050. The older generation – or ‘Baby Boomers’ – have an unrivalled opportunity to extend their working years as a more diversified workplace brings a demand for different cultures, backgrounds, and ages.
Older workers are seen to be more reliable, experienced and efficient at their work, and bring with them an age-wisdom that is good for both business and networking. The benefits of hiring older workers are as follows:
1. Wisdom and life experience
Just as the younger generation brings to the workplace the opportunity of fresh modern ideas and perspectives, the older generation has the benefit of wisdom that only comes with age and life experience. Older workers possess vital skills that have been shaped from character-building experiences.
Former treasurer of Australia Joe Hockey stated that older workers are the key to Australia’s economic growth and that their life experience gives them important character traits such as “patience, resilience, humility, and good humour in difficulties”, which many businesses are said to see as ideal workplace values.
As such, they have the knowledge and experience of being faced with adverse situations or workplace difficulties and being able to work through them with efficiency and confidence.
2. Reliable
Debunking the myth that older people are more at risk of health-related issues leading to more sick days, statistics have shown that Baby Boomers are three times less likely to use their sick leave than Millennials. Younger workers, in fact, throw twice as many ‘sickies’ compared to baby Boomers each year.
Mature workers are also used to getting up early, and are more punctual and accountable.
3. Detail-oriented
According to the Seniors in the Workplace research survey, when it comes to work Baby Boomers are primarily motivated by such things as being satisfied by their job (71%), finding their work engaging (57%) and a positive workplace culture (41%). Because of this, they bring with them a more detail-focus on their work and productivity levels.
In fact, big companies such as Australia Post employ a larger number of older workers with 60% of their workforce being aged 45 and over; crediting the older generations higher levels of engagement and greater work ethic.
4. Great mentors
Setting an example for fellow employees and younger employees is an important value many business owners appreciate. Creating a fair and comfortable workplace propels productivity and overall happiness.
When older workers mentor younger workers, it’s good for employees and the company too. Younger people tend to look up to the older generation and rely on them to blaze the trail for them to come through. Experience is an important thing to pass on, and proper peer-to-peer mentoring will ensure all generations are competent in their roles.
5. Reduced labour costs
Hiring older workers can potentially save a business’s time and money since most older workers already have insurance plans from prior employers or have an additional source of income. They may also be more willing to work less hours than they were in their previous role if it means they can get meaningful work and use their skills to help boost a company’s morale and productivity.
Seniors understand that working for someone means more than just a paycheck. Over half (56%) of Baby Boomers surveyed cited that they intend to keep working over the age of 65 because they simply enjoy working.
How your business can integrate older workers
Businesses and employers alike can boost engagement among older workers and integrate a more diversified workplace by doing the following:
Advertise job openings in the paper as well as online
In the digital age, the older generation still likes to read written material including local newspapers. Advertising in newspapers and editorials is a great way to target older employees and accommodates people who don’t feel comfortable applying online.
Displaying older people in company pictures and marketing material
Showing a more diverse range of people in your marketing campaigns and online website encourages older people to apply to your company, since it shows you are not age-discriminatory.
Provide the right training for older workers
It’s a general truism that older people are stereotyped as not being as technologically savvy as the younger generations, however, older workers are much more likely to seek out and engage in new training opportunities. Businesses can invest more in ample training for not just older workers but all workers to ensure everyone is on an even playing field and are competent in the roles specific to your company.
Have a more diversified HR recruitment process
HR departments are usually staffed by younger people which can result in age bias. To improve upon this, businesses should seek to have a panel of recruiters of all different ages and backgrounds and follow a group-interview model.
Baby boomers are the key to better business
Older workers generally have a more built-up wisdom and skill-set from their time in the workforce. This is beneficial for businesses as they bring with them new perspectives as well as opportunities to mentor younger workers to ensure a well-rounded and productive workplace.
With the right training and guidance, older workers can adjust to new technologies, make your business and employees more productive, and save you money due to lower rates of absenteeism and increased reliability.
“The opinions expressed by BizWitty Contributors are their own, not those of BizCover and should not be relied upon in place of appropriate professional advice. Please read our full disclaimer."
