Older workers are still a valuable resource
By Jack Keough -- Industrial Distribution, 11/1/1998
If you've read any business magazine in the past year you're bound to have seen an article on the number one problem facing employers: finding qualified people. And somewhere within that article, there's a reference to dealing with the Generation Xers, the 20-something worker who has his or her choice of jobs. This new type of employee, unlike other workers in previous generations, may hop from job to job, less content staying with one employer for an extended period of time.It's often been pointed out in these articles that today's younger employees are creative, have excellent computer skills and can quickly adapt to change. However, you don't often read about the older worker who can also bring outstanding skills to a company.
In the past decade, American business has been consumed with downsizing, or in today's parlance, rightsizing. That often means older employees are given the option to retire early or to be laid off. But these workers aren't ready for the golf course or the gardening club. In fact, some studies show employees between 55 and 65 are as healthy as those between 45 and 55. They are not absent from their jobs at any higher rate than younger workers, are more reliable, and perform vigorous tasks as well as anyone else in the company.
An article in Across the Board, a magazine published by the Conference Board, notes that in 1970, 83 percent of the men between 55 and 64 were working. By 1990 that figure dropped to 72 percent and is expected to drop to 68 percent by the end of the decade. The biggest reason for this decline, according to the magazine, is the generous financial incentives companies offer these employees, especially professionals and executives.
While employers may be losing these workers from a payroll standpoint, they're also losing people with valuable experience and business acumen. And they're also losing the most important skills these older employees can bring to the table: mentoring and nurturing younger employees.
Many years ago I spent a day with an outside distributor salesperson who, at the age of 82, had been selling industrial supplies for more than 50 years. During my conversations with him, I learned more about the industrial distribution business in one day than I had from attending seminars and reading books about distribution over the course of many years. His employer had arranged it so this salesperson had only several selected accounts.
Restructuring his job resulted in benefits for the employer and the employee. As an owner of an industrial distribution business, it might make sense for you to restructure your company to make sure you don't lose the benefits of older employees. You might be surprised how well it works for you -- and your employees.
Talkback
Related Content
Related Content
Sponsored Links
View All Blogs
