There is a wide body of research to support the business case for hiring mature workers. Some of the most common arguments are outlined below:
- Older workers deliver an average net benefit of $1,956 per year to their employer compared to the rest of the workforce – a result of increased retention, lower rates of absenteeism, decreased costs of recruitment and greater investment returns on training. (Business, Work and Ageing)
- The 45-to-55 age bracket is the fastest growing labour market segment in Australia (AISR (2009), Experience Works).
- Older workers aged 45+ will stay with an organisation 2.4 times longer on average than under 45s (AISR (2009), Experience Works).
- Baby Boomers spend more time and money online than any other demographic (eMarketer).
- 86% of Adage.com.au jobseekers said they would be more inclined to purchase products and services from organisations who were committed to hiring maturity (Adage Survey).
- A 2006 ABS survey found that older workers were the least likely group to take days off due to their own illness or as a carer.
However I would be interested to hear people’s thoughts on the intangible benefits of hiring mature age workers. Why do you think employers should hire older workers?
Comments welcome
