5 Misconceptions Of Hiring Older Workers

large_7744321194Research shows that many people in the age group of 55-65 plan to, or would like to, keep on working either because of a desire to be productive or for monetary necessity.  Research also shows that many people who are unemployed in this age group are finding it difficult to land employment.  In this blog, I’m going to address 5 misconceptions of hiring older workers, according to HR Magazine, and why you should give these experienced and willing applicants serious consideration.

When the economy took a nosedive in 2007, businesses had to readjust their business plans, causing many workers in an older age bracket to lose their jobs. Those older workers who didn’t lose their jobs were also forced to remain a part of the payroll until their 401K retirement plans recovered.  Now, as the economy recovers along with retirement plans, employers are losing their older workers to retirement along with the benefits they brought to the employee roster, such as dependability, loyalty, and experience.  So why does it seem that employers are reluctant to hire this age bracket of employees with such valuable qualities?  Misconceptions about hiring older workers, such as the ones listed below; seem to play a part in whether or not that senior employee will be given a shot at the job:

 

Higher health care costs – If you think about it, people that are eager to be productive and active later in life are likely to be healthier over all.  Often times, the costs are less of working seniors when comparing their costs to those that are in the child rearing stage of their lives.

The chance of more discrimination claims and litigation – In 2012, only .05 percent of workers age 50 and older filed age discrimination claims.  As long as you have a solid action plan in place for workers who aren’t performing, you will have to worry less about this regardless of the age of your employees.

Lower ROI – Actually, let’s talk about loyalty and dependability again.  Older workers typically tend to stick with one company.  Longer tenure equals higher ROI.

Declining performance – Although some physical abilities may decline, senior workers more than make up for it in their experience and knowledge about the job they are tasked with.  Consider restructuring their roles into an advisor or consultant role.

 

Is your company experiencing some turn over with baby boomers retiring?  Contact Serenity Staffing to replace those retiring employees with older workers who are still eager be productive for your company.  Connect with us on Facebook and LinkedIn for continued updates on HR trends that may benefit your company!