Experience adds value to businesses — the importance of workers over age 50
Plan your expenses and deductions strategically each year
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Maintain accurate and organized financial records for easy reporting
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Personalized Marketing: AI helps in analyzing customer data to create personalized marketing campaigns
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The Aging Workforce: An Untapped Resource
“The population of younger workers with the education and skills to replace Baby Boomers is not large enough — or growing fast enough — to make up for the older generation’s departure,” says Cheryl Paullin, Ph.D., in her research The Aging Workforce: Leveraging the Talents of Mature Employees. As Baby Boomers retire, businesses face a gap that younger workers alone cannot fill. To bridge this gap, companies must adapt their hiring practices to benefit from the wealth of experience and knowledge that older workers bring.
Younger workers from other countries may eventually help fill this gap, but this requires significant investment in recruiting, training, and onboarding. A more practical solution is to reskill and retain mature workers who already possess invaluable expertise and are likely to offer a higher return on investment due to their commitment and lower turnover rates.
Benefits of Attracting and Retaining Mature Workers
Many older adults are eager to continue working, often in roles that allow them to contribute to their communities. According to Paullin, “Paths to retirement are changing. Many people retire from a first career, then ‘unretire.’ Often, ‘unretirees’ pursue a different type of work than their previous occupations, and many seek work that allows them to give back to their communities.” These individuals are motivated not only by financial need but by a desire to remain socially active and engaged, which can reduce the risk of adverse health outcomes associated with aging.
The U.S. Census Bureau projects that by 2030, one in five Americans will be 65 years or older. This growing demographic represents a significant portion of the workforce, and businesses that effectively engage this talent pool can gain a competitive edge. Mature workers offer deep industry knowledge, mentorship capabilities, and a unique understanding of the needs of aging consumers.
How GetSetUp Supports Mature Employees
As the workforce ages, businesses must create environments that support the specific needs of older employees. This includes offering flexible work schedules, healthcare benefits, and opportunities for continuous learning. GetSetUp plays a crucial role in this by empowering older adults through education. GetSetUp offers expert-led sessions that help older workers master essential tech tools, enhancing their productivity and job satisfaction.
For example, GetSetUp offers courses on tools like GSuite and mobile devices, tailored to the needs of older learners. These classes help mature employees stay relevant in a digital workplace, making it easier for businesses to integrate and retain older talent.
Beyond tech skills, GetSetUp also offers sessions that support mental and physical well-being, which are vital for sustaining a healthy and engaged workforce. By participating in these live, interactive classes, older workers can connect with peers, combat loneliness, and maintain an active, fulfilling lifestyle.
The Value of Experience in the Workforce
“At GetSetUp, the benefits of hiring older workers—even for our core team—far outweigh the additional costs and changes needed to create inclusive workspaces,” says Lawrence Kosick, co-founder of GetSetUp. Companies that invest in mature employees will benefit from their extensive professional experience, which can be critical for mentoring younger staff and making informed business decisions. Moreover, older employees often exhibit a strong sense of loyalty and community, contributing to higher retention rates and a more cohesive workplace.
The insights and skills that mature workers bring are irreplaceable and essential for meeting the needs of an aging consumer base. Businesses that overlook this resource risk missing out on the unique perspectives and dedication that only decades of experience can provide.
To further enhance your workforce's capabilities, explore the variety of courses offered by GetSetUp, where continuous learning and growth are celebrated at every stage of life.
