Your Company Can Gain By Hiring Business Veterans
Business veterans in the 45+ age bracket were hardest hit by the recession. Veteran employees with high salaries and benefits were first to be dismissed by corporations interested in cutting costs.
However, an older workforce is a valuable asset if managed properly.
A more experienced generation of workers brings cumulated experience, a strong work ethic and a greater sense of loyalty than today’s “get what I can while I can” generation.
They’re also invested in your company, since many in the higher end of the age bracket have had to postpone retirement due to financial setbacks that come with a recession.
Add to this an increase in responsibilities such as a mortgage, kids’ college tuition and an interest in maintaining a more comfortable lifestyle, and it’s easy to see why this workforce presents itself as far more reliable in the long run.
Some applicants will be routed toward new fields that will require supervisors to clearly communicate needs and expectations.
Since increased competition has driven down earnings, older employees may be forced to accept pay cuts – which can be a source of resentment, especially if their supervisors are younger than them. Offset this by offering measurable incentives and rewards.
Employers should also offer more autonomy and a “free-range” work environment, since a more mature team rarely needs over-the-shoulder monitoring.
In fact, managers can benefit from older workers’ experience and utilize that asset by offering veteran colleagues roles as sub-managers or mentors to younger and more inexperienced team members.