Mature workers have become an important segment of the world’s labor markets and will remain so for many years to come. The youngest members of the baby boomer generation will not turn 65 until 2031, and in that year, there will still be nearly 58 million living boomers. Though laws have sprung up in many countries to protect the rights of older workers, smart employers recognize they are a resource for growth too valuable to be wasted.
On the whole, mature workers have much to offer their employers. Their experience and industry knowledge allow them to quickly solve problems and pursue additional opportunities. Their cognitive fitness remains strong and pliable, enabling them to grasp new tasks and technologies. They expect that their performance will continue to be reviewed and welcome the chance to share their skills with younger colleagues.
The Mature Workforce Initiative has uncovered many strategies to capitalize on the strengths of older workers. Its research demonstrates there are many effective ways of hiring, motivating, managing, and retaining these valuable resources for growth.
Report credit: David Micah Kaufman and Deborah Weinstein, Putting Experience to Work; A Guide to Navigating Legal and Management Issues Relating to a Mature Workforce, The Conference Board, 2007, p. 16.