A Mature Workforce: Part of the Solution, Not Part of the Problem
In these times of high unemployment due to the crisis, the issue of impending labour and skill shortages seems farfetched. However, the retirement of the baby boom generation over the coming 20 years is expected to cause scarcities in areas that are crucial for economic development. As a result of retirements, vacancies caused by replacement needs could be double the number due to economic growth. So what can be done to encourage mature workers to remain in the labour force, and to share their knowledge and experiences?
Older workers are assets to their employers in many ways
A survey was conducted under employers, in which they were asked to compare the performance of older and younger employees. Four important positive characteristics of older workers were indicated:
- They tend to have a stronger work ethic;
- They are more reliable and loyal;
- They have lower turnover rates;
- They have higher skill levels.
Furthermore, they have amassed tacit knowledge which plays in
important role in smooth working processes.
It is currently observed that older workers are choosing to stay in
the workforce longer. This is made possible by increased longevity,
but the economic crisis might have negatively affected property
values which necessitates a longer productive life.
Expected health issues do not change that fact
A main reason for an employer not to contract older workers is that older workers are expected to take more sick leave than younger ones, and have higher chances of developing long term disease – and paid absence. However, as older workers are more likely to score better on performance indicators like interpersonal skills, attendance and conscientiousness, they can generate more revenue for their employers.
Retention and dissemination of mature skills
There are two ways of keeping the tacit knowledge and their higher skill levels within the workforce. The first strategy is related to knowledge transfer, and can include actions like:
- a mentoring programme;
- multigenerational work teams;
- transferring older workers through the organisation to places in which their skills are most needed.
The second strategy develops ways for retaining older workers in
the workforce, by adapted work rhythms. Examples of practical
changes include:
- flexible working hours;
- part time work;
- employ them as consultants;
- phased retirement schemes.
Document Type
Policy Document
Publication Date
July 2009
Contact
Council for Adult and Experiential Learning (CAEL)
Telephone: 312 499 2600
E-mail: cael@cael.org
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