The world of work is changing, as employees continue to prosper in their roles well-past retirement age. And despite the fact our offices are now completely multigenerational, HR still seems to have an issue with hiring workers over 45 years old.
So, what are the business benefits of investing in older employees?
“Companies are undergoing so much digital transformation, and a certain expertise is needed to power those changes,” explained Nick Cromydas, CEO and co-founder of Hunt Club.
“That’s why we think many companies, especially in the tech industry, lean towards hiring candidates who were raised using the technologies they are now being required to use on the job. But, these same companies have a tendency to forget the benefits of hiring talent over the age of 45.”
Cromydas told HRD Canada that the actual ROI on hiring older workers is self-evident. A report from the Conference Board of Canada explained how customers generally preferred to interact with employees their own age – and since customers are getting older, it makes sense to keep your aging workforce.
“Seasoned professionals typically have a wealth of connections that can actually bring the company new networks they haven't built access into,” Cromydas told us. “In doing so, the company is introduced to a breadth of experience that make companies stronger, faster and a better place to work.”
“Hiring talent over the age of 45 brings a sense of maturity to an organization. One of the top issues in tech and venture-backed companies is mental health and employee burnout. More senior employees have a more grounded perspective when it comes to work-life balance.”
“And finally, there's the value of experience. These candidates bring 20 to 30 years of industry experience, providing insight that could take decades to develop in an organization.”
Would you commit to hiring older workers? Check out this case of a $25K legal settlement to an age discriminated employee.