With age comes experience. We all know that many businesses nowadays still have a bizarre way of thinking that younger employees can attain much more knowledge than senior ones. Many business owners believe that having more younger employees can drive growth to their companies and that older employees will only be a financial liability.
It’s time for us to break that norm. Senior employees have a lot to contribute to your company, and they are much loyal compared to younger employees. Before discussing their advantages, let’s talk about their growing numbers.
They are More in Number
There are more seniors in the workplace than before. Those aged 35 above are leading the numbers when it comes to the overall population in the US, and it’s time for you to take advantage of that. They constitute almost half of the entire population, and most of them are in the process of switching jobs at the moment. Sure, millennials will eventually overtake the seniors, but that’s still a couple more years in the future.
They are Loyal
There’s a reason why millennials are called the job-hopping generation. Their generation has a turnover rate of 21%, the highest among any generation. On the other hand, older employees tend to be more loyal to their companies than the previous generations. But, you might ask, why is that?
One of the main reasons why senior employees are more loyal to their companies is because they have more to lose. They’ve probably started a family of their own or maybe have to pay the mortgage for their new home. Their growing responsibilities mean that they can’t risk losing their job. Another reason is their mindset.
The more time you spend in a company, the more you start to like its environment and people. Some senior employees like the familiarity, and it helps them work better.
Strong Work Ethic
Lastly, they usually have a strong work ethic. Developing a good work ethic comes with age and experience, and older employees have that by the bucket. They probably have worked in multiple companies before and interacted with all sorts of people. All of these can help them develop a strong work ethic that’s unmatched by the younger generation.
This should be the main reason why you should hire older employees in your company.
Attracting Older Employees to Your Business
Now that you’ve seen the benefits of having older employees in your business, you might be thinking of ways you can get them to apply to your company.
If you want to attract more older employees into your company, you’ll have to think of the long run. You’ll have to think of retirement. For many having insurance and paid reliable home healthcare services is a big plus. But for some, they’d like to have more cash instead of the services. Have a sit down with your employees and brainstorm on this. If you already have a couple of senior employees, feel free to ask them as well.
Disadvantages
Before we end the article, it’s also important that we talk about the disadvantages as well. Remember that these disadvantages may vary because each employee is unique from one another.
Turnover
Even though senior employees are more loyal to their companies, they only have a limited time left before they retire. So make sure to prepare for their inevitable retirement. Be creative, with it, like maybe changing their work into a more consultant role or change their schedule, so they don’t have to be at work every day. All of these things can prolong their stay in your company.
Workplace Accidents
Senior employees are also more prone to workplace accidents, and these accidents are very costly as well. To lessen these accidents from happening, ensure that you have anti-fall measures installed in your office. Also, consider having a clinic so that there’s someone who can aid people who are injured. Reducing workplace accidents can help you get the most out of your senior employees.
Unable to Keep up With Tech
Another disadvantage for older employees is that they can have a much harder time keeping up with modern and future tech. They usually feel at home with the things they know and abhor things they do not know. Take this into consideration when hiring a senior employee. Make sure to get the training they need if they are in a more specialized role.
Although these advantages exist among many senior employees, don’t be discouraged from hiring them for their experience and veterancy. They can have a good contribution to your company and be a good mentor for those who need it.