Older Employees in Big Demand!!
Older Employees in Big Demand!!
Well, it’s not.
Employers are facing a critical workforce shortage in the not too distant future. There are fewer younger workers entering the US workforce than there are older workers leaving: in fact the ratio is close to 1:3. And this labor shortage is predicted for all industries, from construction and manufacturing, to technology and health care.
At the same time, the definition of retirement is changing; more baby boomers are redefining traditional retirement planning by working longer. Sound like a formula for a great and continuing partnership between you and your (or another...) company? You bet it is, if you do your part.
First, get the facts and work to dispel the myths surrounding older workers in the office (better yet, feel free to share this with your HR Director…):
Myth #1:
It costs more to retain older workers than it does to recruit younger workers.
Fact:
Many older workers may receive higher salaries, but when the costs of replacement are factored in for the higher turnover of younger workers during their early years of employment, the actual cost of keeping experienced employees is equal to and may be less than that of finding and retaining younger ones.
Myth #2:
The costs for health and other benefits are higher for older workers.
Fact:
Today’s older workers have fewer acute illnesses, while younger workers have more dependents. So in reality, overall benefits may work out to be the same for older and younger workers.
In essence, the U.S. would actually be better off by capturing the work experiences of Baby Boomers and passing them on to their successors.
Second, prepare yourself for these shortages so you put yourself in the best position to negotiate the on-going work package you want:
1. Take responsibility for your own development by updating the skills you will need to remain
competitive in your industry’s workforce, and;
2. Suggest or create opportunities for sharing your wisdom and expertise accrued over decades of
learning and succeeding. Here’s some ideas to get you started:
revised human resources policies to provide flexible work schedules and job sharing
opportunities for older workers;
training programs designed with the older adult in mind;
educate managers and staff members on age diversity issues to dispel their negative
stereotypes of older workers;
learn how to provide better ergonomic workplace designed to accommodate age-related
changes;
initiate mentoring and coaching programs that provide opportunities to pass on your wisdom
to the next generations.
We older workers need not take early buy-outs or allow an employer to make us feel that we must retire if we don’t wish to. As a generation, we are famous for our success with creating change when we see the need for it. We are living longer, better, and our desired retirement age isn’t what our daddy’s used to be; the younger workforce replacement numbers are low; and we have the industry expertise not found in a younger generation. The trifecta!
While not all older workers may wish to work longer, those who do are wise to take charge of their career continuation, and companies are wise to take advantage of this extraordinary resource - now.
Older Employees in Big Demand - To learn more about this author, visit Terri Benincasa's Website.
Like this article? Share it with your friends
For my fellow Boomers, this is a great headline, isn’t it? And it sounds like a complete fantasy, doesn’t it?
Well, it’s not.
Employers are facing a critical workforce shortage in the not too distant future. There are fewer younger workers entering the US workforce than there are older workers leaving: in fact the ratio is close to 1:3. And this labor shortage is predicted for all industries, from construction and manufacturing, to technology and health care.
At the same time, the definition of retirement is changing; more baby boomers are redefining traditional retirement planning by working longer. Sound like a formula for a great and continuing partnership between you and your (or another...) company? You bet it is, if you do your part.
First, get the facts and work to dispel the myths surrounding older workers in the office (better yet, feel free to share this with your HR Director…):
Myth #1:
It costs more to retain older workers than it does to recruit younger workers.
Fact:
Many older workers may receive higher salaries, but when the costs of replacement are factored in for the higher turnover of younger workers during their early years of employment, the actual cost of keeping experienced employees is equal to and may be less than that of finding and retaining younger ones.
Myth #2:
The costs for health and other benefits are higher for older workers.
Fact:
Today’s older workers have fewer acute illnesses, while younger workers have more dependents. So in reality, overall benefits may work out to be the same for older and younger workers.
In essence, the U.S. would actually be better off by capturing the work experiences of Baby Boomers and passing them on to their successors.
Second, prepare yourself for these shortages so you put yourself in the best position to negotiate the on-going work package you want:
1. Take responsibility for your own development by updating the skills you will need to remain
competitive in your industry’s workforce, and;
2. Suggest or create opportunities for sharing your wisdom and expertise accrued over decades of
learning and succeeding. Here’s some ideas to get you started:
revised human resources policies to provide flexible work schedules and job sharing
opportunities for older workers;
training programs designed with the older adult in mind;
educate managers and staff members on age diversity issues to dispel their negative
stereotypes of older workers;
learn how to provide better ergonomic workplace designed to accommodate age-related
changes;
initiate mentoring and coaching programs that provide opportunities to pass on your wisdom
to the next generations.
We older workers need not take early buy-outs or allow an employer to make us feel that we must retire if we don’t wish to. As a generation, we are famous for our success with creating change when we see the need for it. We are living longer, better, and our desired retirement age isn’t what our daddy’s used to be; the younger workforce replacement numbers are low; and we have the industry expertise not found in a younger generation. The trifecta!
While not all older workers may wish to work longer, those who do are wise to take charge of their career continuation, and companies are wise to take advantage of this extraordinary resource - now.
Older Employees in Big Demand - To learn more about this author, visit Terri Benincasa's Website.
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Dianne CramptonDianne Crampton is an executive leadership coach, team consultant, author and president of TIGERS Success Series, Inc. Dianne has been helping CEO's and Executives connect their employees to their core values and goals for over 20 years using the trademarked TIGERS team culture process, which stands for trust, interdependence, genuineness, empathy, risk and success. To download a free white paper on behaviors that build strong teams and behaviors that will predictably tear them down go here. - Visit Dianne Crampton's Website |
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Leanne Hoagland-SmithAre your sales where you want them to be? Will you be one of the few who achieves sales or business success or one of the many who have failed to change? Are you tired of being told you are like everyone else? Then you may find my first book on sales of interest. Be the Red Jacket in the Sea of Gray Suits, The Keys to Unlocking Sales available at Amazon or at http://www.processspecialist.com/red-jacket.htm. This book is a reflection of my no-nonsense approach to improving sales to overall business results. If you are truly committed to making sustainable changes, then I can help you secure a positive return on your investment because I focus on executable solutions not telling you the problems you already know you have. From training to corporate (group) coaching to executive one on one coaching, my approach is to assess, create awareness, build a goal driven action plan and then execute. The bottom line question is "Not do you or your employees know it, but do you or they want to do it?" Please call for a free strategy session at 219.759.5601. - Visit Leanne Hoagland-Smith's Website |
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Jay Kubassek(Jay's Full Bio: EvanCarmichael.com/jaykubassek) Jay Kubassek is a Canadian born entrepreneur, internet marketing genius, professional speaker, international real estate developer/investor, executive film producer, extreme sport enthusiast and a passionate supporter of several charities worldwide. In 2007, Jay's vision and dedication to help other entrepreneurs and business owners duplicate his marketing success led to the creation of his fourth company CarbonCopyPRO, an internet marketing firm already worth over 15 million dollars that has over 20 employees and contract workers with clients is 12 different countries. Jay resides in NYC with his girlfriend Jamie, three year old son Milo and dog Cooper. As executive producer he recently premiered his first film in the 2008 Cannes Film Festival. As an adventurist he is racing the 2008 Baja 1000 off-road race and is a member of the 2008 U.S. National Elephant Polo Team, The New York Blue who will be representing the US in the 2008 World Championships in Nepal. Visit Jay's Blog: www.JayKubassek.com - Visit Jay Kubassek's Website |
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 Terri Benincasa (Visit Terri's Website) Terri Benincasa, Founder/CEO of Benincasa and Associates, Inc. specializing in Transition Coaching in the Tampa Bay area, & expert in all things Boomer. Terri teaches business owners the inside scoop on how to market to Boomers, helps companies eliminate the generation gap (Boomers vs. Millennials) & prepare for Boomers' retirement (don't lose that knowledge-base!)& turns around company’s cultures - from dysfunctional (underproducing, poor customer service, loss of revenue) to healthy (loyal staff, happy customers, increased revenues). This includes deftly handling the development of leadership at all staff levels, eliminating personnel problems, the foundation of business health. With a double Masters in Counseling Psychology from Columbia University, Terri is clinically trained in the art/science of human behavior, specifically as it relates to multi-cultural settings like businesses. In Tampa Bay, Terri has been on ‘Daytime,’ helping women learn skills to achieve professional success, she has hosted her own coaching segment, ‘What Works’ on PAX-TV, and is currently the host of “Boomer Nation” on WTAN AM getting Boomers back on top of their generational game
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