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Experience Counts: The Business Case for Hiring Mature Workers (A
Three-Part Series)
By: Janet
Marinaccio & Lisa Jordan, Human Solutions LLC
Part Three: You Can Change What They Know: Investing in Experience
In part I of this series, You Can’t Teach Attitude, we looked at the value of a
great attitude when making hiring decisions. Mature workers (age 55+) are
regarded as having a positive attitude, strong work ethic, good judgment and
commitment. In Part II, Stop Throwing Your Money Away – Understanding the Cost
of Employee Turnover, we explored turnover costs and job leaving habits of among
the three generations that dominate today’s workplace. While Generation X
(1964–1981) and Generation Y (1982-2001) bring more inherent computer and
technology skills, they tend to “churn” more frequently than Baby Boomers
(1943-1963).
The last part of the business case for hiring mature workers is the premise that
while you can’t change who people are, you can change what they know. Suppose
you have a mature worker job candidate who has the right attitude, would fit
into your corporate culture and is looking to stay employed over the long haul,
but they lack some technical competencies that could be learned. The next step
is to consider the various business costs, including the cost of turnover vs.
making an investment to train and retain a new worker.
According to Workforce.com, the formula for calculating cost and benefit of
training includes a variety of details. Begin by calculating the actual cost of
training (including facilitator fees, materials, facilities). Next, estimate the
value of possible savings (such as reduced error rate, efficiencies, reduced
recruitment costs). Finally, compare costs to savings.
Looking at the big picture, it is important to evaluate all of the costs and
benefits of hiring the mature worker, including any necessary training. If
employment retention is an issue for your business, or if you want to simply
diversify the generational mix within your workforce, perhaps investing in
training someone who intends to stay and grow with your company would make the
most business and financial sense. After all, isn’t investing in your employees
a much less expensive approach than replacing them? This is a key question to
consider, especially during a time when it makes sense fiscally to work
“smarter.”
If you are an employer, to access a pool of motivated mature workers, contact
your local WorkSource Center. Visit
http://www.worksourcecalifornia.com/ and click the Business Resources link
on the left. Mature workers seeking employment may also visit the same site and
click on Services for Job Seekers.
Human Solutions LLC specializes in disability and workforce development
solutions for employers.
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