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The benefits of employing older jobseekers for your company

The number of companies hiring older job seekers is on the rise.

According to the most recent government employment statistics, the number of people aged 50 and over in employment has grown strongly in recent years increasing by 14.2%.

What’s more, over the next 10 years, UK employers will need to fill around 13.5million vacancies, with only 7million young people leaving education, reports the Chartered Institute of Personnel and Development. This means that in order to fill skills gaps and enable the UK economy to stay afloat, UK employers will need to hire older workers.

Yet despite this, some companies are still blinded by the out-dated stereotypes that surround older workers.

Live Career dispel some of these negative stereotypes:

Stereotype Reality
Older workers are unwilling or unable to learn new skills. ‘Those over 50 are proving their ability to learn new skills by becoming the fastest growing group of internet users, and career-changers in their 40s and 50s are taking courses to enhance their skills.’
Older workers need more days off due to ill health.  ‘Attendance records are actually better for older workers.’
Older workers can’t adapt.  ‘Because they’ve seen many approaches fail in the workplace, they are more likely to question change. But they can accept new approaches as well as younger workers can as long as the rationale is explained.’
Older workers cost more to hire. ‘The costs of higher salaries and pensions are often outweighed by low turnover among older workers and the fact that higher turnover among other groups translates into recruiting, hiring, and training expenses.’

 Hiring older job seekers could come with some unique advantages:

  • Older workers have proven experience to guide them in the workplace.
  • They have the advantage of soft skills built up over time.
  • They can be great teachers and mentors to young people in the company.
  • A mixed age team will add diversity which can lead to better decision making.
  • Older workers could be more likely to have a business network built over years in their industry.