How experienced workers can strengthen your talent pool in a shrinking labor market

How experienced workers can strengthen your talent pool in a shrinking labor market

As retiring baby boomers leave a widening gap in the workforce, organizations can hire more experienced workers (55+) to improve performance.
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How experienced workers can strengthen your talent pool in a shrinking labor market

Overview
Summary

A whole wave of baby boomers is preparing to retire, and this exodus could leave a skills chasm that leads to a global labor shortage. For years, organizations have clung to outdated biases against older workers when recruiting. But now, necessity is kicking ageism to the curb, pushing businesses to reevaluate hiring strategies and perceptions regarding this essential part of modern workforces.

In this executive brief, we explore how experienced workers present a practical and profitable solution to the impending labor shortage and how HR leaders can effectively incorporate these workers into their talent strategies.

Read our latest executive brief to learn:

  • Key advantages of hiring experienced workers
  • The pivotal role workers over 55 play in bridging the shrinking labor supply
  • 5 steps to harness the power of experience for organizational growth and performance

For years, organizations have clung to biases against older workers when recruiting. But now, necessity is kicking ageism to the curb, pushing businesses to reevaluate hiring strategies and perceptions when it comes to this essential part of every workforce.

In the age of artificial intelligence and automation, the uniquely human “power skills” that experienced workers excel in are more valuable than ever. So, let’s take a moment to bust the myths surrounding older workers and shine a spotlight on what they truly bring to the table.

The upside of hiring mature workers

Experienced workers bring depth and richness to the workplace that can’t be imitated. Let’s dive into why employers should take notice of this golden opportunity to hire and promote experienced workers.

Multigenerational magic

When it comes to building a team, mixing it up with a range of ages can do wonders for your company culture. A multigenerational workforce isn’t just a melting pot of ideas and perspectives — it’s a dynamic environment where innovation and productivity take center stage.

Different generations bring unique strengths and experiences to the table, fostering a culture of mutual learning and respect. The tech-savvy younger workforce learns from their older colleagues’ rich reservoir of life and work experiences, while the mature workers get to stay in touch with the latest trends and innovations. It’s a winning situation for everyone involved.

Remote work mastery

When offices worldwide shut their doors and work moved online, many might have thought that older workers would struggle. But guess what? They proved everyone wrong. Experienced workers took remote work in stride, adapting quickly to technology, virtual communication, and newwork formats.

With years of experience under their belt, they’re uniquely equipped to lead virtual teams. Their communication, leadership, and problem-solving skills are vital in managing teams remotely. They know how to foster a sense of unity even across screens, maintain productivity, and ensure everyone feels seen and heard.

Unleashing the wisdom of mature workers

There’s no substitute for experience. The knowledge and expertise of mature workers are invaluable assets that can help bridge the labor gap in today’s market. Yet, this talent pool often remains untapped, with employers favoring younger workers. The truth is older workers bring much more than their work experience to the table. Their ability tonavigate complex situations with grace, their resilience, and their unique perspectives can bring a new dimension to problem-solving and decision- making at the workplace.

Employers’ opportunity to lead change

Beyond their business objectives, employers also have a critical societal role to play. By providing meaningful employment and support to older workers, they enhance their company’s productivity and innovation and contribute to a more inclusive society. Research from Gartner indicates that organizations that value and promote diversity are more successful in the long run.

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