Aging is inevitable, but it doesn't necessarily have to mean retirement. In fact, more and more older adults are staying in the workforce, and for good reason. Not only do they bring years of experience and knowledge to the table, but there are also a multitude of benefits that come along with keeping older workers on the job including:
- Their years of experience in the workplace give them a superior understanding of how jobs can be done more efficiently, which saves companies money.
- Organizational skills among older workers mean employers who hire them are less likely to be a part of this startling statistic: More than a million man hours are lost each year simply due to workplace disorganization.
- Punctuality seems to be a given for older workers. Most of them look forward to going to work each day, so they're likely to arrive on time and be ready to work.
Once you have these gems in the workplace…how do you keep them? Let's dive into the top perks that can help employers keep older workers happy and engaged.
Flexibility in Work Arrangements
For many older workers, flextime or alternative work arrangements can be a game changer. This way, they can still work while accommodating any personal or health-related needs. Employers that are willing to be flexible and open-minded can retain employees who may otherwise have retired earlier. Studies show that flexibility is a key concern for older workers.
Another way to keep older workers engaged is by offering grandternity leave. This benefit is similar to parental leave, but geared toward grandparents who are looking to spend time with their grandchildren during a special event or milestone. This can be a significant draw for older workers who are looking to balance work and their life outside the office.
Mentoring and Training Opportunities
Companies can offer training and mentoring programs that give older workers the chance to train the next generation in their field or to pick up new skills themselves. This is a great way for older workers to continue to feel valued and keep their minds sharp. On the flipside, the younger generation benefits from this exchange of knowledge and experience.
Health and Wellness Programs
Companies can offer health and wellness programs that cater to the needs of older employees. This could include things like chronic disease management or weight loss programs. These initiatives can help older workers remain physically active and alert, thus making them more effective on the job.
Incentives as they approach retirement
Employers can offer incentives to employees who are nearing retirement age to stay an extra year or two. For example, a higher bonus, a more flexible work schedule, or an extra week of vacation. This way, older workers can save more money and transition more gracefully into retirement.
Employers that prioritize the well-being of their older workers can ultimately benefit in many ways. Retaining experienced employees means avoiding the cost and time-consuming process of hiring and training new ones. Additionally, these workers bring a wealth of knowledge and expertise that can be passed down to the younger generation, leading to greater overall success for the company. Remember – age is just a number!