Another Reason to Hire an Older Worker - They May Stay Longer

by Susan Williams, founder of BoomingEncore.com


Related Articles

When to Begin Taking Social Security Distributions

Why You Should Work Past Retirement Age

Baby Boomer's Financial Timeline

I read an interesting post by Dr. Gillian Leithman about the arrogance of ageism. In her post, Dr. Leithman shared a number of facts about how businesses may be missing out on a significant opportunity if they discount the value that an older worker could provide to a company's talent pool.

At the end of the post, she shared another interesting statement: "A candidate with five years left until retirement may be with your firm, on average, longer than a new and younger hire."

It's true. The United States Bureau of Labor Statistics reported that the median tenure of workers ages 55 to 64 (10.1 years) was more than three times that of workers ages 25 to 34 years (2.8 years).

Yet think about career sections of websites. How many older people do you see as being promoted as the faces of the people they are looking to hire? The majority of the individuals they profile are smiling 20- to 30-year-olds.

This is a major opportunity lost for employers. Not only do many older workers have the necessary knowledge and expertise, but they could also potentially help create knowledge centers and participate in mentoring programs to ensure that the organization has capabilities to develop and retain the necessary knowledge moving forward.

Have you started preparing for retirement?
Our pre-retirement checklist will walk you through the steps you need to take.

Add these benefits to the fact that someone who is within five years of retirement will probably end up staying longer than a younger worker and it makes for some pretty good reasons to hire older workers.

Older workers won't stay long is yet another stereotype perception of older workers that needs to be discarded.

Other Related Posts:


Susan Williams is the Founder of Booming Encore, a website and social media network dedicated to providing information and inspiration to help Baby Boomers create and live their very best encore.

Take the Next Step:

  • Use this tool to maximize your retirement by determining the best age to take your Social Security benefits. Don't leave thousands on the table by taking Social Security at the wrong time.
  • Determine if debt could derail your retirement and what you can do about it now. Our checklist can help you. Afterall, one of the most important ingredients for a comfortable retirement is to be debt free when you retire.
  • Find tools and resources geared specifically for the 50+ crowd in The Dollar Stretcher section dedicated to your financial issues. If you're over 50, your financial needs are different. And so are your questions.

Share your thoughts about this article with the editor.

Stay Connected with TDS




Social Security Choices

Newsmax







You've learned how to work smarter, not harder.

After 50 Finances is a weekly newsletter dedicated to people just like you.

Retirement Checklist
Subscribe

And get a free copy of the After 50 Finances Pre-Retirement Checklist. Everything you need to do to be ready for retirement!

Your Email:



View the TDS Privacy Policy.

Get Out of Debt