Archives for Mature

Silver Tsunami

happy-retirement-150x150We hear about the impact millennials (those typically with birth years from the early 1980’s to the early 2000’s) are having and will continue to have on the workforce.  But, there is another phenomenon that has been given the name “silver tsunami”, and that is the growing segment of employees nearing or at retirement age, and concerning just what impact the loss of that experience pool will have going forward.

Employers are faced with ‘silver tsunami’ issues such as who will retire and those who will want to continue working, and what those decisions will do to employee benefit practices for example.  If you haven’t given any thought to this, you might wish to engage your employee benefits broker or consultant to begin the planning for this possibility.

There is another very intriguing aspect to this ‘silver tsunami’ wave, and that centers in our world, the world of employment and recruitment.  ‘Silver tsunami’ workers have significant organizational wisdom that might be lost upon their retirement. Silver tsunami 34 There is also the intriguing potential for employers needing skilled talent no matter the age, to focus some recruiting efforts on the ‘silver tsunami’ group.

There are ‘supply issues’ in the current employee talent pool and you probably know that as well as we do.  There are simply too few qualified people available in certain fields to meet today’s demand.  The ‘silver tsunami’ group might provide part of the solution.  Recruiting in that pool may provide more talent and better availability if the attained age is not a problem for the hiring employer.

We need to review our recruiting practices to assure that we can find those who may have ‘aged out’ in one company while they still want and need to work.  A recent Society for Human Resource Management and Sloan Foundation survey found that 66% of HR professionals said their organizations now employ older workers who have retired from other organizations or careers.  Of those people being hired from that pool, 58% said they went to work after retirement because they enjoyed it and needed to find something to do with all the time they suddenly had available.  Another 45% said their reasons centered on health care benefits.

Obviously, millennials are very important, but we need to be reminded not to lose sight of the value to be found among those in the ‘silver tsunami’.

 

Tom Krist, President

Tom Krist

Diversity Leads to Greatness

Workforce Diversity

Diversity Leads to Greatness

The next person you hire is going to work for you for the next 20-30 years right? Not always in today’s world!

According to a FastCompany Article last year, workers between the ages of 18 and 38 will change jobs an average of 10 to 11 times during their career; or an average of 4.4 years per employer.

Unless the requirements of a position are limiting your options, the “mature” employee offers a great option.  Many have been displaced through no fault of their own and have worked for only a few organizations. Young employees, new to the workforce, can bring a lot of energy and willingness to change that may benefit your company as well. When making any hiring decision it’s best to consider interviewing a diverse set of candidates.

Although “mature” candidates may not be with your firm for the next 20 to 30 years, most will prove to be reliable and dependable with a strong work ethic. In some cases, the mature employee will be more grateful for the job and loyal to your company for the balance of their careers.

Typically, mature employees don’t have the personal demands that someone with a young family might have such as day care, school functions, medical appointments, sporting events, etc.  Some may even concentrate most of their focus on performing their job to the best of their ability. That’s not to say “young” employees wouldn’t do the same, but it’s always good to consider both options.

Soon enough there will be 5 generations in the workforce all trying to figure out how to work together and be the most productive force they can be. Both young and old can learn a lot from each other, and make your organization stronger through diversity. Diversity in the workforce leads to a diverse array of ideas, and those ideas will then lead to greatness within your organization.

When selecting candidates to interview with your company, it makes sense to include a “mix of candidates” and then ask yourself which ones are going to be more productive and stable over the next few years.

Tom Deffke – Senior Account Executive

WFA Staffing Group

Tom Deffke