Older Workers May Be Golden for Employers

Ann All

We've blogged before about the impact that retiring Baby Boomers could have on the workforce. As a recent Detroit News article notes, 25 percent of the U.S. workforce will reach retirement age in the next five to 20 years. Ten million will become eligible for retirement by 2010.

 

While this will seemingly worsen the already serious problem of a shrinking IT talent pool, relatively few IT managers appear concerned. Sixty percent of them recently surveyed by Computerworld say their organizations are not making any special efforts to retain older workers.

 

Nineteen percent of surveyed managers have offered flexible schedules to retain older workers, 12 percent have offered part-time work, and 4 percent have offered delayed retirement plans.

 

Such incentives may hit a sweet spot with what appears to be a growing body of older workers who want to stay on the job past the traditional retirement age.

 

Such folks tend to be especially valuable IT employees because they have the specialized skills and/or business orientation that employers want. And they make great mentors for incoming employees.


 

Some older workers who want to keep working without being tied down to a specific position are finding temporary employment firms willing to place them in companies where they can work on short-term projects, reports the (Appleton, Wis.) Post-Crescent. The staffing industry is expected to grow from $120 billion a year today to $200 billion by 2010, with use of general temporary help services and highly skilled pros in short-term contracts both contributing to the increase.



Add Comment      Leave a comment on this blog post
Aug 8, 2007 7:46 AM Ashley Ashley  says:
Hi,I see that there is great value in having people around who know the pitfalls and what to look out for. Very often these people are from an older demographic.I believe without older workers there is a danger that as a community we could end up repeating the mistakes of the past and not making much progress, even though we may appear to be or believe we are.To have a good culture I think there needs to be a good cross generational representation,Regards,Ashley Reply
Aug 9, 2007 12:43 PM Biswajit Biswajit  says:
In my opinion think a good HR practice ( which is often ignored) is to maintain a good balance of an employee age profile through organization's recruitment and retaining policy without compromising with the organization's retirement age. Reply

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