An employer’s guide to older workers:
How to win them back and convince them to stay
Executive Summary
Older workers are a resource we can no longer afford to waste! Projected tight labor markets require us to better use our experienced mature workers. This does not mean business as usual, however. We must change our strategies and practices in the 3R’s,
Recruitment, Retention, and Retraining.
Visibility is key in recruitment. It is important to target this older worker market, and network more effectively. Reach out. Americans over 50 years of age are the fastest growing group of internet users, and there are an increasing number of websites aimed at employment opportunities for older workers. One-Stop-Centers, required under the federal Workforce Investment Act, are another source. To be successful in recruitment we must also change our image. Ask yourself the question: “Are we an older worker friendly organization?”
“Never let them go…” Employees will want to keep working if the work is 1) interesting and challenging and 2) flexible. Reevaluating “career” objectives throughout the employee’s tenure will reinforce their importance to the firm. All employees want to feel valued, and communication and feedback are key. Respect throughout the company can be strengthened through diversity training. The second major component of retention is flexibility. We can achieve flexibility through reorganization of both hours-of-work and compensation packages. We can accommodate the demand for a different work/leisure mix through flex-time, part-time, contract, and phased retirement programs. We can also restructure the salary/benefit package and pro-rate benefits.
Training and retraining are directly linked to retaining older workers and productivity. We must profile the adult learner and stay ahead in the market by requiring all our employees, including older workers, to be actively learning new technologies and skills. Our investments today will payoff in tomorrow’s labor market!