With not enough new workers to replace those who are leaving, employers are taking a more serious look at retaining and attracting older workers, writes Kate Rockwood. By 2030, an estimated 150 million jobs globally will have shifted to workers older than 55. So, companies must look to mature job seekers to solve their labor needs to survive and thrive from now into the future. Still, more than two-thirds of older workers report seeing or experiencing age discrimination.
Quite simply, people are retiring faster than new workers are entering the workforce to replace them.”
Source: SHRM, December 4, 2023. Link. By 2030, roughly 40 percent of adults 65 to 69 are expected to still be working compared to 33 percent in 2020.
Related content: Search results for: Older workers, AHD Archives. Link.
INSIGHTS: Defining older is an important consideration. Previous articles have noted the hesitancy to hire someone a few years before retirement but tenure figures don’t support those fears. Structuring training and employee management to seamlessly transfer knowledge and skills is becoming more critical to successful customer experiences.
. . . the average person stays at their job (specifically, their employer) for 4.3 years <Link> while millennials expect to change jobs every three years, and the average tenure for workers between the ages of 25 and 34 is 2.8 years.