{"id":6402,"date":"2022-05-31T17:29:43","date_gmt":"2022-05-31T21:29:43","guid":{"rendered":"https:\/\/thediversitymovement.com\/?p=6402"},"modified":"2023-12-11T15:25:01","modified_gmt":"2023-12-11T20:25:01","slug":"multigenerational-diversity-hiring-retaining-older-workers","status":"publish","type":"post","link":"https:\/\/thediversitymovement.com\/multigenerational-diversity-hiring-retaining-older-workers\/","title":{"rendered":"Multigenerational Diversity: Hiring and Retaining Older Workers Helps Businesses Thrive"},"content":{"rendered":"<p>&nbsp;<\/p>\n<p><button id=\"listenButton1\" class=\"responsivevoice-button\" type=\"button\" value=\"Play\" title=\"ResponsiveVoice Tap to Start\/Stop Speech\"><span>&#128266; Listen to this article<\/span><\/button>\n        <script>\n            listenButton1.onclick = function(){\n                if(responsiveVoice.isPlaying()){\n                    responsiveVoice.cancel();\n                }else{\n                    responsiveVoice.speak(\"Nick Celenza, 80, rises at 6 a.m. every day, and on five of those days, he heads to work at Parker LORD, a technology and manufacturing company in Cary, N.C. The electrical engineer, who spent more than 30 years working for IBM, started his most recent job roughly three years ago.\u00a0\u00a0 \u201cWe work on government programs, government helicopters \u2013 actually troop carriers \u2013 and I design and test electronic circuits for that,\u201d he says. \u201cThe reason I\\'m working is not because I need the money necessarily, but because it keeps me active.\u201d Celenza\u2019s forty-hour workweek is unusual, even for people a decade younger than he is, but it doesn\u2019t have to be. There is strong evidence that working past 65, the traditional retirement age, benefits employee and employer both. Unfortunately, age discrimination, age-related bias, and stubborn stereotypes can make finding and keeping a job difficult for older workers. \u201cCompanies are leaving talent sitting on the curb and are driving right by. All they have to do is stop and let them in,\u201d says Ben Wiant, founder of The 3 Doors Job Search.\u00a0 Wiant is a career transition consultant and former recruiter. Since launching his business in 2020, he has supported professionals in job transition by training them on the fundamentals of a successful job search. Most of his clients, roughly 60-70%, are executives and skilled professionals who are older than 50. There are many reasons why employers should consider hiring older workers, and today\u2019s tight labor market makes expanding the pool of job candidates even more necessary. \u201cIf you\\'re having trouble filling roles, you\\'re probably not looking at the right people,\u201d Wiant says. \u201cIt\\'s unfortunate that just because you can\\'t find the person that fits your preconceived idea of what that employee is, doesn\\'t mean that somebody that can do the job isn\\'t out there.\u201d The labor market is shrinking: here\u2019s how employers can adjust It\u2019s no secret that companies are struggling to fill jobs. In March, Federal Reserve Chairman Jerome Powell called the tight labor market \u201cunhealthy\u201d and noted that there were nearly two job openings for every unemployed person.\u00a0 In the wake of the pandemic, there are simply fewer people looking for jobs. More than a million women left the workforce during the pandemic and haven\u2019t returned. At the same time, older workers retired in droves.\u00a0 \u201cThe Great Resignation wouldn\\'t have happened if there hadn\\'t been a great retirement or a great redundancy. In fact, during the pandemic, we had an excess, an extra 1.5 million retirements than we would have had during a normal period,\u201d demographic futurist Bradley Schurman tells host Jackie Ferguson on the \u201cDiversity Beyond the Checkbox\u201d podcast.\u00a0 Schurman is an expert on longevity and the founder of The Super Age, a global strategic advisory firm. He helps organizations understand how shifting demographics and mega trends are remaking social and economic norms. He\\'s also the author of the book, The Super Age: Decoding our Demographic Destiny. \u201cWe\\'re entering into a new period for humankind where our societies are getting quite old,\u201d Schurman says. \u201cWe\\'re having a lot fewer babies than ever before. Our birth rates are at their lowest point in human history, in most of the Western world,\u201d he says. Also, \u201cdue to scientific innovation, social innovation, clean water, and access to food, we have an incredibly high survival rate now through childhood. Many of us live into adulthood more than ever before, and this is allowing us to live much longer lives.\u201d Fewer young people means fewer job seekers, a trend that Schurman says the pandemic exacerbated. By 2030, he projects that the 75-plus workforce will double in the U.S., and the under-24 population will contract by about 8%. \u201cWe\\'ve had a glut of labor in the U.S. workforce since roughly 1962, when the first Boomers started to come [into the workforce.] At the same period we had globalization. All of this created an abundance of labor,\u201d he says. \u201cAll of these countries are starting to shrink now; their labor force is starting to contract. Those days of cheap, readily available labor are gone.\u201d To fill empty roles, manage rising labor costs, and stay productive, Schurman says businesses should hire more older workers and encourage folks who are already working to stay on the job. The first step toward those goals is to let go of false narratives and stereotypes about aging.\u00a0\u00a0 Let go of your bias: Older workers offer value, wisdom, and stability The most common assumption Wiant hears from hiring managers is that older employees cost more than younger workers. However, that generalization fails to consider the many additional ways that older workers can contribute to the company. \u201cOften, people are only looking at the price, and they\\'re not looking at the value that they get for that price,\u201d he says. \u201cIf the person could do the job of two people, and also provide mentorship, guidance, and some problem-solving, maybe you get the same amount of productivity and insights for the same price as you would have to pay for two younger workers?\u201d Added to their valuable experience, some older workers are willing to accept a smaller salary, because they want to stay mentally active and mentor younger people. But even in these situations, Wiant says hiring managers rarely believe the job-seekers.\u00a0 \u201cEvery senior-level person I\u2019ve ever talked to says, \u2018The money is not important. I need to be paid fairly. I don\u2019t need to make what I used to make. I want to add value and bring my experience to bear in a positive way.\u2019 I hear some variation of that almost universally,\u201d he says. Hiring managers tell him equally often that hiring older candidates at a lower rate \u2013 even if the person agrees \u2013 is too risky. They think if they hire someone at a below-market salary, then that person will leave when they are offered more money elsewhere. Hiring managers say they prefer to hire someone younger, who they can keep.\u00a0 \u201cBut then they don\\'t balance that with the fact that most junior-level employees are going to be gone in two to five years anyway,\u201d Wiant says. Their experience and perspective make people in their 50s or 60s especially helpful for small, growing businesses and young entrepreneurs, he adds. Those who have worked at large companies can provide insight into organizational processes, and they frequently have strong management skills that a younger leader could emulate. Because they have seen what is effective and what isn\\'t, workers from older generations hold great potential to help shift workplace culture to be more productive, effective, and efficient. Instead, Wiant says hiring managers often feel threatened by people significantly older than themselves, and won\u2019t consider them. \u201cI want them to see, \u2018This is somebody who\u2019s been there, done that, and I can learn from this person. I don\\'t care if I\\'ve only got this person for the next 18 to 20 or 36 months until somebody else hires them away. I\\'m gonna milk every single piece of value that I can out of this person, and have us all come out better for it in the end,\u2019\u201d he says. \u201cBut that\\'s not the conversation that\\'s happening, not often.\u201d Unfortunately, unconscious bias is common in the hiring process, Wiant says, even if there is no blatant discrimination. But companies are missing out on top talent when they overlook qualified, older job candidates.\u00a0 \u201cIf people are saying they\\'re not finding the right employees, and if they haven\\'t looked at the older generation of people that have been there, done that, and can hop right into their organization to do it, then they\\'re making decisions against their best interests,\u201d he says. From the expert: 10 reasons to hire people older than 55 Other widespread myths portray older workers as reluctant to learn new technology, lacking creativity, unreliable, unmotivated, and resistant to change. Several studies have debunked these pernicious stereotypes, and are, as one Forbes writer puts it, \u201ctotal nonsense.\u201d In reality, older workers tend to be adaptable, creative, productive, eager to learn, and ready to pass on their knowledge.\u00a0 Mike Komives is an older adult employment specialist at the Orange County, N.C., Department of Aging. He meets with employers regularly, and counters biased stereotypes with the following reasons to hire older workers. Existing knowledge and real-world experience. Older workers\u2019 wealth of experience enables them to be better problem-solvers and helps them absorb new information. Quicker and faster contributions. They are easier to train and can begin contributing to the team faster. More productive and reliable. One international study showed that older workers were more consistent and less erratic than younger workers.\u00a0 Loyal and prefer to stay in jobs longer. Once they have made a commitment to an employer, it takes a lot for them to leave a job. Serious about work relationships. Older workers generally put effort into getting to know colleagues and those they will be collaborating with. Insight into customer population or client base. Because the population is aging, having older workers who can relate to customers who are over 50 makes businesses more profitable.\u00a0 Tend to be more emotionally stable, patient, and resistant to stress. Because older workers have lived through many crises, they have learned to manage their emotions and focus on solving the problem. There is less \u2018drama\u2019 and more teamwork. Less expensive in the long term. Older workers stay in a job longer, are less expensive to train, and many are already on Medicare, so health costs are lower. In addition, many older workers aren\u2019t as motivated by money as are younger workers. Able to develop and mentor younger workers. Older workers are often happy to pass on their knowledge to younger colleagues. Larger and deeper networks of professional and personal connections. When business is all about \u2018who you know,\u2019 older workers have valuable contacts. Best practices: How companies can attract and keep older employees For companies looking to retain older workers, a good first step is to address unconscious bias by educating managers, team leaders, and other stakeholders about the advantages older employees can bring to the workplace. Organizations should also consider non-traditional work arrangements, which can help leverage the expertise of skilled older workers. If salaries are a concern, managers might explore part-time work, consulting arrangements, or mentorship programs with their senior employees.\u00a0 In Japan, Mitsubishi Heavy Industries established MHI Executive Experts, essentially a consulting group that recruits veteran employees, including engineers, project managers, and executives who are at retirement age or older. These specialists are dispatched to various projects around the world to provide support and expert advice. In addition, MHI allows for both full- and part-time work, and makes accommodations for those who are unable to relocate. \u201cMHI\u2019s older experts not only provide much-needed expertise and know-how, they also give on-the-job training and guidance to newer recruits, helping foster the next generation of specialists,\u201d writes Shunichi Miyanaga, president and CEO of Mitsubishi Heavy Industries, in an article about the program for AARP.\u00a0 Perhaps the most important factor in retaining older workers is to make them feel that their contributions are important. Parker LORD is committed to attracting diverse candidates and retaining the best talent, regardless of age. That philosophy benefits the company and older workers like Celenza, the 80-year-old engineer.\u00a0 \u201cOlder workers bring decades of experience and unique skills that can only be developed over many years,\u201d says Eileen Suazo, a spokesperson with Parker LORD. \u201cDifferences in age, gender, ethnicity and other qualities not only make us who we are as individuals, they are part of the unique and tangible value that each of us can offer as professionals in our careers.\u201d If you would like to explore how a robust diversity, equity, and inclusion (DEI) strategy can help your organization attract and retain top talent of all ages, get in touch with our team today.\u00a0 Amber Keister is a Content Writer and Editor at The Diversity Movement. She has spent more than 20 years as a journalist for publications throughout the South. Connect with her on Linkedin.\", \"US English Male\");\n                }\n            };\n        <\/script>\n     <\/br><br \/>\n<span style=\"font-weight: 400;\">Nick Celenza, 80, rises at 6 a.m. every day, and on five of those days, he heads to work at Parker LORD, a technology and manufacturing company in Cary, N.C. The electrical engineer, who spent more than 30 years working for IBM, started his most recent job roughly three years ago.\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cWe work on government programs, government helicopters \u2013 actually troop carriers \u2013 and I design and test electronic circuits for that,\u201d he says. \u201cThe reason I&#8217;m working is not because I need the money necessarily, but because it keeps me active.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Celenza\u2019s forty-hour workweek is unusual, even for people a decade younger than he is, but it doesn\u2019t have to be. There is strong evidence that working past 65, the traditional retirement age, benefits <\/span><a href=\"https:\/\/www.health.harvard.edu\/staying-healthy\/working-later-in-life-can-pay-off-in-more-than-just-income\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">employee<\/span><\/a><span style=\"font-weight: 400;\"> and <\/span><a href=\"https:\/\/www.vox.com\/2016\/10\/18\/12427494\/old-aging-high-tech\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">employer<\/span><\/a><span style=\"font-weight: 400;\"> both. Unfortunately, age discrimination, age-related bias, and stubborn stereotypes can make finding and keeping a job difficult for older workers.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cCompanies are leaving talent sitting on the curb and are driving right by. All they have to do is stop and let them in,\u201d says Ben Wiant, founder of <\/span><a href=\"https:\/\/the3doors.com\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">The 3 Doors Job Search<\/span><\/a><span style=\"font-weight: 400;\">.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Wiant is a career transition consultant and former recruiter. Since launching his business in 2020, he has supported professionals in job transition by training them on the fundamentals of a successful job search. Most of his clients, roughly 60-70%, are executives and skilled professionals who are older than 50.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">There are many reasons why employers should consider hiring older workers, and today\u2019s tight labor market makes expanding the pool of job candidates even more necessary.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cIf you&#8217;re having trouble filling roles, you&#8217;re probably not looking at the right people,\u201d Wiant says. \u201cIt&#8217;s unfortunate that just because you can&#8217;t find the person that fits your preconceived idea of what that employee is, doesn&#8217;t mean that somebody that can do the job isn&#8217;t out there.\u201d<\/span><\/p>\n<h3>The labor market is shrinking: here\u2019s how employers can adjust<\/h3>\n<p><span style=\"font-weight: 400;\">It\u2019s no secret that companies are struggling to fill jobs. In March, Federal Reserve Chairman Jerome Powell called the <\/span><a href=\"https:\/\/www.marketplace.org\/2022\/03\/23\/companies-still-say-they-cant-find-enough-workers-whats-going-on\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">tight labor market \u201cunhealthy\u201d<\/span><\/a><span style=\"font-weight: 400;\"> and noted that there were nearly two job openings for every unemployed person.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In the wake of the pandemic, there are simply fewer people looking for jobs. More than a million <\/span><a href=\"https:\/\/www.shrm.org\/resourcesandtools\/hr-topics\/behavioral-competencies\/global-and-cultural-effectiveness\/pages\/over-1-million-fewer-women-in-labor-force.aspx\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">women left the workforce<\/span><\/a><span style=\"font-weight: 400;\"> during the pandemic and haven\u2019t returned. At the same time, older workers <\/span><a href=\"https:\/\/www.shrm.org\/resourcesandtools\/hr-topics\/employee-relations\/pages\/companies-renew-efforts-to-retain-hire-older-workers.aspx\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">retired in droves<\/span><\/a><span style=\"font-weight: 400;\">.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cThe Great Resignation wouldn&#8217;t have happened if there hadn&#8217;t been a great retirement or a great redundancy. In fact, during the pandemic, we had an excess, an extra 1.5 million retirements than we would have had during a normal period,\u201d demographic futurist Bradley Schurman tells host Jackie Ferguson on the \u201c<\/span><a href=\"https:\/\/podcasts.apple.com\/us\/podcast\/the-great-resignation-covid-19-and-the-super\/id1496992226?i=1000557196824\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Diversity Beyond the Checkbox<\/span><\/a><span style=\"font-weight: 400;\">\u201d podcast.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Schurman is an expert on longevity and the founder of <\/span><a href=\"https:\/\/www.thesuperage.com\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">The Super Age<\/span><\/a><span style=\"font-weight: 400;\">, a global strategic advisory firm. He helps organizations understand how shifting demographics and mega trends are remaking social and economic norms. He&#8217;s also the author of the book, <\/span><a href=\"https:\/\/www.thesuperage.com\/book\" target=\"_blank\" rel=\"noopener\"><i><span style=\"font-weight: 400;\">The Super Age: Decoding our Demographic Destiny<\/span><\/i><\/a><i><span style=\"font-weight: 400;\">.<\/span><\/i><\/p>\n<p><span style=\"font-weight: 400;\">\u201cWe&#8217;re entering into a new period for humankind where our societies are getting quite old,\u201d Schurman says. \u201cWe&#8217;re having a lot fewer babies than ever before. Our birth rates are at their lowest point in human history, in most of the Western world,\u201d he says. Also, \u201cdue to scientific innovation, social innovation, clean water, and access to food, we have an incredibly high survival rate now through childhood. Many of us live into adulthood more than ever before, and this is allowing us to live much longer lives.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Fewer young people means fewer job seekers, a trend that Schurman says the pandemic exacerbated. By 2030, he projects that the 75-plus workforce will double in the U.S., and the under-24 population will contract by about 8%.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cWe&#8217;ve had a glut of labor in the U.S. workforce since roughly 1962, when the first Boomers started to come [into the workforce.] At the same period we had globalization. All of this created an abundance of labor,\u201d he says. \u201cAll of these countries are starting to shrink now; their labor force is starting to contract. Those days of cheap, readily available labor are gone.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">To fill empty roles, manage rising labor costs, and stay productive, Schurman says businesses should hire more older workers and encourage folks who are already working to stay on the job. The first step toward those goals is to let go of false narratives and stereotypes about aging.\u00a0\u00a0<\/span><\/p>\n<p><a href=\"https:\/\/thediversitymovement.com\/library\/\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" class=\"alignnone wp-image-8876 size-large lazyload\" data-src=\"https:\/\/thediversitymovement.com\/wp-content\/uploads\/2023\/04\/NEW-TDM-Library-Display-Ad_Large-A-1024x341.png\" alt=\"TDM Library: your one-stop-shop for update, expert DEI Resources. Explore the platform with a free trial. Click here to learn more.\" width=\"1024\" height=\"341\" data-srcset=\"https:\/\/thediversitymovement.com\/wp-content\/uploads\/2023\/04\/NEW-TDM-Library-Display-Ad_Large-A-1024x341.png 1024w, https:\/\/thediversitymovement.com\/wp-content\/uploads\/2023\/04\/NEW-TDM-Library-Display-Ad_Large-A-600x200.png 600w, https:\/\/thediversitymovement.com\/wp-content\/uploads\/2023\/04\/NEW-TDM-Library-Display-Ad_Large-A-300x100.png 300w, https:\/\/thediversitymovement.com\/wp-content\/uploads\/2023\/04\/NEW-TDM-Library-Display-Ad_Large-A-768x256.png 768w, https:\/\/thediversitymovement.com\/wp-content\/uploads\/2023\/04\/NEW-TDM-Library-Display-Ad_Large-A.png 1200w\" data-sizes=\"(max-width: 1024px) 100vw, 1024px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1024px; --smush-placeholder-aspect-ratio: 1024\/341;\" \/><\/a><\/p>\n<h3>Let go of your bias: Older workers offer value, wisdom, and stability<\/h3>\n<p><span style=\"font-weight: 400;\">The most common assumption Wiant hears from hiring managers is that older employees cost more than younger workers. However, that generalization fails to consider the many additional ways that older workers can contribute to the company.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cOften, people are only looking at the price, and they&#8217;re not looking at the value that they get for that price,\u201d he says. \u201cIf the person could do the job of two people, and also provide mentorship, guidance, and some problem-solving, maybe you get the same amount of productivity and insights for the same price as you would have to pay for two younger workers?\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Added to their valuable experience, some older workers are willing to accept a smaller salary, because they want to stay mentally active and mentor younger people. But even in these situations, Wiant says hiring managers rarely believe the job-seekers.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cEvery senior-level person I\u2019ve ever talked to says, \u2018The money is not important. I need to be paid fairly. I don\u2019t need to make what I used to make. I want to add value and bring my experience to bear in a positive way.\u2019 I hear some variation of that almost universally,\u201d he says.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Hiring managers tell him equally often that hiring older candidates at a lower rate \u2013 even if the person agrees \u2013 is too risky. They think if they hire someone at a below-market salary, then that person will leave when they are offered more money elsewhere. Hiring managers say they prefer to hire someone younger, who they can keep.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cBut then they don&#8217;t balance that with the fact that most junior-level employees are going to be gone in two to five years anyway,\u201d Wiant says.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Their experience and perspective make people in their 50s or 60s especially helpful for small, growing businesses and young entrepreneurs, he adds. Those who have worked at large companies can provide insight into organizational processes, and they frequently have strong management skills that a younger leader could emulate. Because they have seen what is effective and what isn&#8217;t, workers from older generations hold great potential to help shift workplace culture to be more productive, effective, and efficient.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Instead, Wiant says hiring managers often feel threatened by people significantly older than themselves, and won\u2019t consider them.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cI want them to see, \u2018This is somebody who\u2019s been there, done that, and I can learn from this person. I don&#8217;t care if I&#8217;ve only got this person for the next 18 to 20 or 36 months until somebody else hires them away. I&#8217;m gonna milk every single piece of value that I can out of this person, and have us all come out better for it in the end,\u2019\u201d he says. \u201cBut that&#8217;s not the conversation that&#8217;s happening, not often.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Unfortunately, unconscious bias is common in the hiring process, Wiant says, even if there is no blatant discrimination. But companies are missing out on top talent when they overlook qualified, older job candidates.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cIf people are saying they&#8217;re not finding the right employees, and if they haven&#8217;t looked at the older generation of people that have been there, done that, and can hop right into their organization to do it, then they&#8217;re making decisions against their best interests,\u201d he says.<\/span><\/p>\n<h3>From the expert: 10 reasons to hire people older than 55<\/h3>\n<p><span style=\"font-weight: 400;\">Other widespread myths portray older workers as reluctant to learn new technology, lacking creativity, unreliable, unmotivated, and resistant to change. <\/span><a href=\"https:\/\/www.weforum.org\/agenda\/2018\/07\/five-stereotypes-about-older-workers-debunked\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Several studies<\/span><\/a><span style=\"font-weight: 400;\"> have debunked these pernicious stereotypes, and are, as one <\/span><a href=\"https:\/\/www.forbes.com\/sites\/forbescommunicationscouncil\/2019\/08\/14\/addressing-and-removing-common-stereotypes-about-older-workers\/?sh=4d27942f6e4c\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Forbes writer<\/span><\/a><span style=\"font-weight: 400;\"> puts it, \u201ctotal nonsense.\u201d In reality, older workers tend to be adaptable, creative, productive, eager to learn, and ready to pass on their knowledge.\u00a0<\/span><\/p>\n<p><a href=\"https:\/\/www.linkedin.com\/in\/mikekomives\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Mike Komives<\/span><\/a><span style=\"font-weight: 400;\"> is an older adult employment specialist at the Orange County, N.C., Department of Aging. He meets with employers regularly, and counters biased stereotypes with the following reasons to hire older workers.<\/span><\/p>\n<ol>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Existing knowledge and real-world experience.<\/b><span style=\"font-weight: 400;\"> Older workers\u2019 wealth of experience enables them to be better problem-solvers and helps them absorb new information.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Quicker and faster contributions.<\/b><span style=\"font-weight: 400;\"> They are easier to train and can begin contributing to the team faster.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>More productive and reliable. <\/b><span style=\"font-weight: 400;\">One international study showed that <\/span><a href=\"https:\/\/www.vox.com\/2016\/10\/18\/12427494\/old-aging-high-tech\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">older workers were more consistent <\/span><\/a><span style=\"font-weight: 400;\">and less erratic than younger workers.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Loyal and prefer to stay in jobs longer. <\/b><span style=\"font-weight: 400;\">Once they have made a commitment to an employer, it takes a lot for them to leave a job.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Serious about work relationships.<\/b><span style=\"font-weight: 400;\"> Older workers generally put effort into getting to know colleagues and those they will be collaborating with.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Insight into customer population or client base. <\/b><span style=\"font-weight: 400;\">Because the population is aging, having older workers who can relate to customers who are over 50 makes businesses more profitable.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Tend to be more emotionally stable, patient, and resistant to stress.<\/b><span style=\"font-weight: 400;\"> Because older workers have lived through many crises, they have learned to manage their emotions and focus on solving the problem. There is less \u2018drama\u2019 and more teamwork.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Less expensive in the long term.<\/b><span style=\"font-weight: 400;\"> Older workers stay in a job longer, are less expensive to train, and many are already on Medicare, so health costs are lower. In addition, many older workers aren\u2019t as motivated by money as are younger workers.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Able to develop and mentor younger workers.<\/b><span style=\"font-weight: 400;\"> Older workers are often happy to pass on their knowledge to younger colleagues.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Larger and deeper networks of professional and personal connections.<\/b><span style=\"font-weight: 400;\"> When business is all about \u2018who you know,\u2019 older workers have valuable contacts.<\/span><\/li>\n<\/ol>\n<h3>Best practices: How companies can attract and keep older employees<\/h3>\n<p><span style=\"font-weight: 400;\">For companies looking to retain older workers, a good first step is to <\/span><a href=\"https:\/\/thediversitymovement.com\/unconscious-bias-the-secret-disrupter\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">address unconscious bias<\/span><\/a><span style=\"font-weight: 400;\"> by educating managers, team leaders, and other stakeholders about the advantages older employees can bring to the workplace. Organizations should also consider non-traditional work arrangements, which can help leverage the expertise of skilled older workers. If salaries are a concern, managers might explore part-time work, consulting arrangements, or mentorship programs with their senior employees.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In Japan, <\/span><a href=\"https:\/\/www.mhi.com\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Mitsubishi Heavy Industries<\/span><\/a><span style=\"font-weight: 400;\"> established MHI Executive Experts, essentially a consulting group that recruits veteran employees, including engineers, project managers, and executives who are at retirement age or older. These specialists are dispatched to various projects around the world to provide support and expert advice. In addition, MHI allows for both full- and part-time work, and makes accommodations for those who are unable to relocate.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cMHI\u2019s older experts not only provide much-needed expertise and know-how, they also give on-the-job training and guidance to newer recruits, helping foster the next generation of specialists,\u201d writes Shunichi Miyanaga, president and CEO of Mitsubishi Heavy Industries, in an <\/span><a href=\"https:\/\/www.aarpinternational.org\/the-journal\/current-edition\/journal-articles-blog\/2017\/01\/the-business-case-for-older-workers\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">article about the program for AARP<\/span><\/a><span style=\"font-weight: 400;\">.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Perhaps the most important factor in retaining older workers is to make them feel that their contributions are important. Parker LORD is committed to attracting diverse candidates and retaining the best talent, regardless of age. That philosophy benefits the company and older workers like Celenza, the 80-year-old engineer.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cOlder workers bring decades of experience and unique skills that can only be developed over many years,\u201d says Eileen Suazo, a spokesperson with Parker LORD. \u201cDifferences in age, gender, ethnicity and other qualities not only make us who we are as individuals, they are part of the unique and tangible value that each of us can offer as professionals in our careers.\u201d<\/span><\/p>\n<p><i><span style=\"font-weight: 400;\">If you would like to explore how a robust diversity, equity, and inclusion (DEI) strategy can help your organization attract and retain top talent of all ages, <\/span><\/i><a href=\"https:\/\/thediversitymovement.com\/contact\/\" target=\"_blank\" rel=\"noopener\"><i><span style=\"font-weight: 400;\">get in touch with our team<\/span><\/i><\/a><i><span style=\"font-weight: 400;\"> today.\u00a0<\/span><\/i><\/p>\n<p><a href=\"https:\/\/thediversitymovement.com\/library\/%20\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" class=\"alignnone size-large wp-image-8041 lazyload\" data-src=\"https:\/\/thediversitymovement.com\/wp-content\/uploads\/2023\/03\/TDM-Library-Footer-Ad-A-1024x85.png\" alt=\"Display ad for TDM Library. Text says &quot;Find more content like this in TDM Library. Start my free trial&quot;\" width=\"1024\" height=\"85\" data-srcset=\"https:\/\/thediversitymovement.com\/wp-content\/uploads\/2023\/03\/TDM-Library-Footer-Ad-A-1024x85.png 1024w, https:\/\/thediversitymovement.com\/wp-content\/uploads\/2023\/03\/TDM-Library-Footer-Ad-A-600x50.png 600w, https:\/\/thediversitymovement.com\/wp-content\/uploads\/2023\/03\/TDM-Library-Footer-Ad-A-300x25.png 300w, https:\/\/thediversitymovement.com\/wp-content\/uploads\/2023\/03\/TDM-Library-Footer-Ad-A-768x64.png 768w, https:\/\/thediversitymovement.com\/wp-content\/uploads\/2023\/03\/TDM-Library-Footer-Ad-A.png 1200w\" data-sizes=\"(max-width: 1024px) 100vw, 1024px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1024px; --smush-placeholder-aspect-ratio: 1024\/85;\" \/><\/a><\/p>\n<p><em><a href=\"https:\/\/thediversitymovement.com\/team\/amber-keister\/\" target=\"_blank\" rel=\"noopener\"><b>Amber Keister<\/b><\/a> <span style=\"font-weight: 400;\">is a Content Writer and Editor at The Diversity Movement. She has spent more than 20 years as a journalist for publications throughout the South. Connect with her on <\/span><a href=\"https:\/\/www.linkedin.com\/in\/amberkeister\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Linkedin<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp; Nick Celenza, 80, rises at 6 a.m. every day, and on five of those days, he heads to work at Parker LORD, a technology and manufacturing company in Cary,15<\/p>\n","protected":false},"author":2,"featured_media":6411,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[65,5],"tags":[113],"tdm_type":[92],"class_list":["post-6402","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-diversity-equity-and-inclusion-fundamentals","category-blogs","tag-generations","tdm_type-articles"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Multigenerational Diversity: Hiring and Retaining Older Workers Helps Businesses Thrive - The Diversity Movement<\/title>\n<meta name=\"description\" content=\"To fill empty roles, manage rising labor costs, and stay productive, Schurman says businesses should hire more older workers and encourage folks who are already working to stay on the job. 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