Older Staffs Often Come with More Life Experience and a Willingness to Work - Essay Example

Older staffs often come with more life experience and a willingness to work.’ By ID number + University name City, State Date Summary Old age starts at roughly 63 years. Statistics that have been taken in the last years to try and analyze the rate at which the older people are being recruited and retaining their jobs. 55% of participating companies identified employee retention as a top goal in putting together a benefits plan. Many employers do not consider the percentage of their workforce that is set to retire in the next five to 10 years and the potential loss of productivity and intellectual capital that will occur when those people leave their company,” says Lori Rogers, VP Operations, and Manpower Canada. “If employers don’t act soon, they will fail to win the war for talent, as older adults will be relied upon as one of the most important sources of talent for the future workforce (Jan 2007). The global survey, which included 28,000 employers across 25 countries and territories, found employers in the UK are far ahead of their international counterparts, with higher percentage of respondents, respectively, working proactively to retain their older employees. But in Italy and Spain, only 6% have such strategies in place. In 19 of the 25 countries, retention strategies were more predominant than recruiting strategies for older workers. This may be because many of these countries have government legislation or programs in place to encourage employers to retain older workers (Paula 2007). Table of contents Aims and objectives……………………………………………………………pg 3 Proper strategies used to recruit workers………………………………………pg 4-5 Proper strategies used to recruit worker……………………………………….pg5 Benefits of having an older workforce…………………………………..pg 6 Challenges associated with having an older workforce…………………pg 7-8 Conclusion ……………………………………………………………pg 8 Recommendation…………………………………………………..pg 9-10 References ……………………………………………………..pg11-13 Appendix…………………………………………………..pg 14 Aims and objectives The aim of this topic is to understand and learn more on the recruitment of old employees and the strategies used. We also review the benefits and challenges associated with having an older workforce in companies. We also discuss aging population and recommend what action organizations should take to ensure they have a ready supply of labor in the future. We are also going to review why age diversity pensions are decreasing in value and on the other people are becoming more likely to still have financial obligations such as mortgages or student support, later in life. We are also going to go through what employers will need to consider how they can best become an employer of choice for older workers and how they can retain older workers in an increasingly competitive market place.   For some organizations this will mean a significant culture change.  Consider that 25-34 is the current favorite recruitment age of employers and The Employers Forum on Age has estimated that ageism costs the United Kingdom economy over £26bn each year.  This article will help you to explore the issues that affect your capacity to be an age positive employer and help you to identify the steps you need to take to fully to comply with the Employment Equality (Age) Regulations 2006. We are also going to touch on the Europe’s 2020 growth strategy. Finally were going to have a conclusion having stated all the important points that will help the reader to get the best knowledge about this topic (Robert 2007). Workplace flexibility strategy in general, is not formally defined. Each employer has in place a variety of informal flexibility strategies enabling employees of all ages to accomplish work in the most efficient and collaborative manner. Among these strategies are practices that specifically meet the needs of older workers. However, in their communications with employees, the employers describe flexibility strategies as offering something for employees at every stage of life. The following motivates employers to initiate flexibility strategies: recruit, retain, and engage older workers, retain experienced staff and circumvent massive retirements, re-career” older workers instead of losing them to external opportunities, help older workers continue to be effective on the job, engage retirees and tap into their knowledge and skills Organizations should take the dimensions that influence perceptions of age (Marion 2009). . Proper Strategies Used to Recruit Workers (I)Workforce and Workplace Assessments It is important for employers to begin the older worker policy development process with a good understanding of the situation within their organization. Assessment of the number of workers approaching retirement age and the potential impact of the loss of their knowledge, expertise, and productivity is vital. To help employers understand the state of their own workforce, the employer resource section offers a workforce assessment tool for human resource managers. This tool allows companies to evaluate how retiring workers will affect their organization, address skill shortage challenges due to staff attrition, create a work environment that attracts qualified workers of all ages, Manage a multi-generational workforce, and build an employer brand that attracts and retains top talent. Using Customized Employment strategies can assist employers to retain valuable staff, Customized Employment offers a targeted approach to matching skill sets with a business need, and Customized Employment can assist employers to address specific conditions within their businesses that require attention (Nikki 2008). (ii)Disability Management Disability management, in the context of the ageing workforce, has been defined as a “collaborative process that utilizes assessment, planning, implementation, communication, coordination, and evaluation in the provision of preventive and remedial services to minimize the impact and cost of disability, to enhance productivity, and to promote maximum recovery and function”. It is well documented that proactive disability management with older workers addresses issues of disability prevention, skill improvement and productivity, and quality of overall work life (Bruce 2008). (iii) Training needed for older workers One of the major perceptions employers have of older workers is that they are resistant to change, or unable to adapt to new technologies. This highlights the importance of ongoing training targeted at older workers with the goal of keeping their skills and knowledge up-to-date and in line with that of younger workers. It is well documented that older workers are often denied access to training and affirmed by the Sloan Center’s national study on this subject. Also identify three key areas of concern to companies seeking to build training programs relevant and useful to older workers: providing access to training, use of training methods, materials, environments suitable to the aging workforce, and training managers of older workers on effective utilization of older workers’ skills and talents (Kanji 2007). Training is a critical component of any plan to retain or attract older workers, and a successful training program should : Adopt a targeted approach - Identify workers who would most benefit, identify workers who would like to continue working, and tailor training products and techniques to the needs of older employees, renew critical skills - Build on workplace assessments to ensure e that the skills and knowledge the company relies on are being renewed in older workers and transmitted to newer ones, offer new challenges. Older workers may need to be redeployed in new positions, or may desire to spend late-career years developing new abilities, and skill development programs can support t these goals, integrate training into recruitment. Organizations can develop learning initiatives for experienced job seekers to train highly qualified candidates who lack specific skills or knowledge (Marius 2009). Benefits of having an older workforce Maturity comes from years of life and work experience. An old worker will handle things in an appropriate manner. Punctuality is an important thing for older workers. Most of them look forward to going to work each day, so theyre likely to arrive on time and be ready to work. Honesty is common among older workers, whose values as a group includes a devotion to the truth. Efficiency and the confidence to share their recommendations and ideas make older workers ideal employees. Their years of experience in the workplace give them a superior understanding of how jobs can be done more efficiently, which saves companies money. Their confidence, built up through the years, means they wont hesitate to share their ideas with management. Communication skills--knowing when and how to communicate--evolve through years of experience (OECD 2013). Older workers understand workplace politics and know how to diplomatically convey their ideas to the boss. Reduced labor costs are a huge benefit when hiring older workers. Most already have insurance plans from prior employers or have an additional source of income and are willing to take a little less to get the job they want. They understand that working for a company can be about much more than just collecting a paycheck (Charles 2009). Challenges associated with having an older workforce An ageing population increases pressure on public finances and pension systems. If United Kingdom citizens do not extend their working lives, reductions in the employed population could lead to significant economic contraction. Increases in working life however can raise growth, improve government budget balances, reduce debt stock, and support lower interest rates. An increased supply of older workers presents Europe with opportunities to deal with these challenges if policies can be adopted which ensure that older workers are able to stay attached to the labor market. The European Union Employment Rate for people aged 55-64 increased from 36.9% to 46% between 2000 and 2009.This still heists behind the overall rate, 64.6% (2009). Initiatives which reduce this gap will improve the position of individual jobseekers as well as improving the functioning of the European Labor Market through facilitating an increased supply of workers. The prolonging of working life when there is a lack of growth in employment opportunities. Older workers are now more able and encouraged to stay in work whilst there are currently less job opportunities opening up for the young generation This is a major challenge to the youths since most of them will remain jobless when they have the required academic requirements. This might lead to desperation from the youths (UN population division 2010). Conclusion  It is however, essential that now the best economic, social and political structures are developed to avoid a catastrophe. Change in demographics provides great opportunity for businesses. Tapping into a wider pool of talent, experience and skills enables businesses to increase productivity, build competitive advantage and improve the bottom line. Increasing the age of retirement is a politically and socially controversial policy to some extent it is done by the legislators for their own benefits. Forcing people to save a proportion of their income has been suggested as a way of solving the UK’s pension crisis. Many people seem to favor this option, provided that their employers contribute as well. Another option is to encourage higher labor force participation (Eddy 2012). In developed economies, a high percentage of men of working age tend to work, however participation rates are relatively lower for women and older workers aged 55-64. Special efforts will be required to make it more appealing for both women and older workers to stay on at work or to find economically useful and personally challenging work once they approach or pass the age of retirement. Another option is the immigration of skilled labor, which can help boost the labor market in general or specific types of skilled labor. But United Kingdom would be required to drastically increase its current level of immigration of economically active workers to offset the impact of demographic change. This could certainly add further stress to an already controversial area of political (Daniel 2012). Recommendation These are some of the strategies that are used in the United Kingdom to enhance good working conditions: Analyze the workforce profile in terms of age and analyze the future impact of the changing generational mix Carry out an employee survey and analyze the views and motivations of different age groups. Ensure the survey captures views on respect and dignity in your workplace. Audit your internal communications to assess whether your communications channels and styles are sufficiently flexible to meet the preferences of all groups of employees. Does your employer brand really convey what is compelling about your organization as a place to work in a way that attracts and engages all generations? Rigorously analyze career development opportunities for all staff through stats and career conversations. Are any groups disadvantaged? Flexibility. Don’t just meet legal requirements; consider radical changes to flexible working. Talk to staff. What would make a big difference to them could enhance your business. Maximize opportunities to enhance coaching and mentoring across the generational groups. Use the experience of Veterans more effectively. Re­engage Baby Boomers. Look at the impact of disengaged Baby Boomers in customer service or other business critical roles. Re­engage them by ensuring that they are feeling challenged and have development opportunities. Re­evaluate your CSR policies and practices. Who are they aim at and who shows the most interest and engagement? Identify the areas of commonality and build on them. Reference List Bruce, H 2010, Managing Value Based Orgazations, Edward Elgar Publishing. Copyright. New York Bob, P 2011, Organizational Management and Information Systems, Elseiver, Copyright, Illinois Charles, M 2009, Managing a Global Workforce, M.E. Sharpe. Copyright, New York Chip,E , Mick, U, Craig, C 2008, Managing the Millennials, John Wiley & Sons. Copyright. New Jersey David,W 2013, Lost Knowledge: Confronting the Threat of on Ageing Work Force, Oxford University Press. Copyright, California Daniel, S 2012, Managing an Ageing Workforce, Diplomarbeiten Agentur. New York David, P 2013, Diversity in The Workshop, Emerland Group Publishing, New York. Eddy Ng, S 2011, Managing the New Workforce: International Perspectives on the Millennial, Edward Elgar Publishing. Copyright, New York Jan, S 2010, Expatriate Management: New Ideas for International Business, Greenwood Publishing Group. Copyright, New York Joseph, W 2009, Business Ethics: A Stskeholder and Issues Management Approach, Cengage Learning. Copyright, New York Katharina, F 2008, the Innovative Capacity of an Aging Work Force, Rainer Hamp Verlag, Copyright, New York Kanji, G, Quality 2007, Managent: Proceedings of the World First Class, Springer. Copyright, Chicago Lisa,D 2010, Workforce Asset Management Book of Knowledge, Wiley & Sons. Copyright. California Mitchell, L 2014, Project and Program Management: A Complementary-Based Approach, Purdue University Press. Copyright Marion, W 2009, Managing the Aging Workforce, Grin Verlag Copyright. New York Marius, L, Sven, C 2009, Managing the Aging Workforce: Challenges And Solutions, John Wiley & Sons. Copyright, New Jersey Nikki,B, Claire, R 2008, Tolley’s Managing a Diverse Workforce, Rootledge. Copyright. New York. OECD 2013, Public Management Occasional Papers Pay Reform in the Public, OECD Publishing. Copyright, Los Angels. OECDC, 2006, Energy Policies of IEA Countries: United Kingdom 2006 Review, OECD Publishing. Copyright, New York Paula, C, David, L, Jaime Ionache, 2007, Managing the Global Workforce, Wiley & Sons. Copyright, Georgia Peter, C 2013, The New Deal at Work: Managing the Market Driven Workforce, Harvard Business Press. Copyright, California Robert, W 2007, the Future of Nursing: Leading to Change, Advancing Health, National Academic Press, Copyright, Texas Salih, K 2007, Managing Employee Attitudes and Behaviours, Nova Publishers. Copyright, California Stephen, D, Wayne, C 2007, Key Tools For Human Resource Management, F T Press. Copyright, New York UN. Population Division, 2010, Policy Responses to Population Decline and Ageing, United Nations Publications. Copyright. California Appendix Ageing-pg 7, 11, 12 CRS-pg 9 Demographics- pg 8 Efficiency-pg 7 Multi-generational-pg 5 Re –career-pg 4 Pension- pg 8 V p operations-pg 2 Read More