The importance of creating a strategy to attract and retain mature workers

Today’s business world has three major problems facing it; the cost of doing business, the lack of employee loyalty, and the fact that baby boomers are retiring which will create a talent and knowledge vacuum. In this blog entry I’m going address this problem and cite some great points from hours and hours of research and a conversation with one of the nation’s leading experts on “mature workers”, Dr. Henry Holstege. I am most grateful to have learned from him and for the fact that his acquaintance was made.

In April of 2010 we’re still in the midst of a recession. But at some point the demand for professional know-how is going to soar. Companies have several ways to address this problem. They can hire the best of the best recruiters, they can invest in technology to find talent, or they can work existing staff to the bone. The problem is that there are pretty hefty price tags associated with these tactics. My suggestion is to put together a strategy to hire mature workers. From my experience talking with companies, HR leaders and executives, this is not being carried out or even thought of for that matter. Let me share with you some of the advantages of doing so.

High work ethic. This is something from an earlier generation that you can leverage. Mature workers come from a generation where working hard was the norm. I take pride in my work ethic (I’m a “gen x” member). I learned it from my parents and grandparents. Finding someone who can get a lot done quickly is a huge advantage. And mature workers will do this for you. The bad news is that over 65% of employers are leery when it comes to hiring them.

As I mentioned earlier sitting down with Dr. Henry Holstege was a vital part of my research (click here to check out the Older Learner Center at Grand Rapids Community College). I asked him, “What are the advantages of hiring a mature worker?” And here’s what he told me besides the high work ethic I just noted…

- Virtually no drug abuse.
- Better absenteeism.
- They’re not looking for advancement; upward mobility is not a factor.
- They have better personal skills. Won't give the supervisor a hard time.
- The older worker has more experience. Knowledge of booms and busts in the economy for instance.
- Office workers don't have tough physical requirements. So why not employ mature workers?

Besides the benefits that are associated with mature workers we need to explore the reality of the situation. Economically it makes sense for our aging population to work until age 65 and beyond. Per Dr. Holstege, “Those nearing retirement earn an additional 8% - 9% of income for each year they work after age 65." That’s incredible! I found it equally noteworthy that 70% to 80% of baby boomers would continue to work, to phase into retirement, if they had adequate training.

I have an interesting but not unique opinion of experience. You learn by trying things and failing until you get it right. Wisdom comes with age. And mature workers bring experience, knowledge, and know-how that our younger generation can learn from. A great analogy is when NFL teams pay big bucks for the fifteen year veteran whose physical skills have declined but their leadership and mentoring skills make them worth their weight in gold. Especially with respect to the rookies. Think of our gen-y workers. The manager that is going to stand apart from the rest is the one who can manage multiple generations with style and great success. That means we must understand the value that each generation (and each individual for that matter) brings and how to harness it to drive business success.

Loyalty is another reason to recruit mature workers. Some say that more mature workers are more loyal to the company whereas younger workers are loyal to the work itself. After fifteen years in the workforce it is my professional opinion that companies that can instill a heightened sense of loyalty to their company, to their “brand”, are going to be the businesses that survive and in many cases flourish in the next decade. It is abundantly clear when you look at facebook and social media in general that companies embrace their fans. Their biggest supporters. Those people are also their best customers, advertisers, and connectors. If there’s a truism that I’ve latched onto as much as any other it’s this… “The more people that sell your product that aren’t on the payroll the better!” (Thank you to Jeff Green, my long time friend and mentor).

Companies need to leverage the people that work for them that are advocates for what they do, make, and provide for the employees themselves. No one can recruit better than a person who works for a company who really loves being an employee! Why do you think companies appreciate employee referrals so much? Why do you think that great companies do an outstanding job of recruiting from within? Mature workers who are loyal to their employers will be this resource and help you recruit people of all ages and all skill-sets.

Here are some myths and truths I learned from Dr. Holstege. I encourage you to check out a most interesting video that goes into great detail on the subject: Successful Aging hosted by Henry Holstege and written by Klaas Kwant, Mike Colby, and Henry Holstege.

http://real.grcc.edu/asxgen/GRCCTV3/MaturePersonsInTheWorkplace.wmv

MYTH
Training older workers is a lost investment because they will not stay on the job.

TRUTH
The work life of an employee over 50 usually exceeds the life of a new technology for which the workers are trained.

MYTH
Older workers are not as productive as younger workers.

TRUTH
Productivity can actually rise due to greater worker accuracy, dependability, and capacity to make better on-the-spot judgments.

MYTH
Older workers are less flexible and adaptable.

TRUTH
Older workers are more likely to ask ‘Why’, because they have often seen past changes in processes and procedures abandoned in mid-stream when they didn’t bring expected rewards quickly enough.

MYTH
Benefit and accident costs are higher for older workers.

TRUTH
Older workers have fewer acute illnesses, sporadic sick days, and fewer dependents. Older workers take fewer risks in accident prone situations and statistically have lower accident rates than other age groups.

MYTH
Older workers are not as creative or innovative.

TRUTH
80% of the most workable and worthwhile new production ideas are produced by employees over forty years old.

Here is some interesting information about and for mature workers…

http://www.grcc.edu/ShowPage.cfm?PageID=14283

(Use the above link to view page where you can click on active hyperlinks with “source” info below)

Fast Facts On & For Mature Workers

1. The term “Older Worker” is not consistently defined; sources consider people as young as age 40 (who are covered by the 1967 Age Discrimination in Employment Act). (Source)
2. “By 2010, middle and older age groups in the labor force will outnumber younger workers.” (Source)
3. The Age Discrimination in Employment Act offers older workers some protections against age discrimination. (Source)
4. In addition, older workers are also protected by the Older Workers Benefit Protection Act (an amendment to the Age Discrimination in Employment Act of 1967) – this law is protected by the Equal Employment Opportunity Commission (EEOC) (Source)
5. Older workers offer characteristics that employers value. (Source)
6. Older workers with disabilities face additional challenges when age-related conditions affect limitations associated with their disabilities.
7. "Older workers are busy, healthy and happy. In 2000, the Small Business Survival Center report concluded that workers older than age 55 have better attendance records, averaging only 3.1 sick days a year, and they account for only 9.7 percent of workplace injuries.’’ (Source)
8. "Older workers are not uncomfortable about being supervised by younger employees’’ (Source)
9. Older workers often work because they need to do so. “In the past year, as the economy has weakened and unemployment has risen, the labor force participation rate for older workers (age 55 - 64) has jumped 2 percentage points” (Source)
10. Research demonstrates that older workers can and do master new technology. (Source)

I’d like to share this interesting point made in Current Strategies to Employ and Retain Older Workers written by Lauren Eyster, Richard W. Johnson, and Eric Toder of the Urban Institute, Washington D.C. in January of 2008…

“Many states, local workforce agencies, community colleges, and advocates for older adults have begun campaigns to educate employers and industry associations about the benefits of hiring and retaining older workers. States working to educate employers and develop partnerships to improve employment opportunities include Arizona, Arkansas, and Iowa. Arizona, for example, developed the Mature Workforce Initiative. It features a “seal of approval” to identify businesses that are friendly to older workers and a pilot program to connect businesses with older workers through all One-Stop Career Centers in the state.”


There are seven things you need to incorporate to have a successful strategy to recruit mature workers…

1. Allow “flex schedules”.
2. Offer part time positions or job sharing opportunities.
3. Training programs to empower mature workers with necessary job skills.
4. A corporate culture that values diversity and respects the older and incredibly valuable members of our society.
5. An HR staff that is on-board and on the same page with respect to this strategy and this mind-set.
6. Manager training on how to manage the multi-generational workforce (I can help you with this).
7. Get the word out that you embrace the idea of having more mature workers join your team! Use facebook, Twitter, LinkedIn, and lean on the amazing power of word-of-mouth heavily.

In summary there are several reasons to consider hiring mature workers; the upcoming labor shortage, the need for experience and wisdom in the workplace, the cost savings, and the fact that there are many people over 50 in America who want and need to work. But I say the best reason to hire them is that they are those whom we love; our fathers, our mothers, our grandparents, our uncles and aunts, our veterans, and our neighbors. Like everyone they need a sense of purpose in their lives. They need to be social. They need to contribute. And, boy, do they have a lot to offer. Think about how attracting mature workers can be a successful part of your overall recruitment strategy and how this could create a labor advantage chasm between you and your competitors.

One more resource for you to consider…

How Nonprofits Can Attract Mature Employees

http://nonprofit.about.com/od/nonprofitmanagement/a/olderworkers.htm