The power of older workers

What motivates seniors?
Jones also discusses different motivations of employees as they age. This is confirmed by the MetLife study, "Living Longer, Working Longer: The Changing Landscape of the Aging Workforce," which sorts the Working Retired into three separate categories. Those 55 to 59 are motivated by economic incentives, but a dramatic shift occurs among 60- to 65-year-olds, who require challenges and the need to feel they still have something to contribute. Baby boomers, while better educated, and more highly trained than previous generations, don't want their skills to rust or to waste years of their education and training. For returnees 66 and older, social interaction is an important factor. The two latter groups work out of choice, not need.

Samar Ghadry, co-owner and Executive Vice President of Powertek Corporation, No. 1092 on the Inc. 5000 list, actively seeks out former government workers. "They know how the system works and have excellent work habits," states Ghadry. "A company needs young workers for their fire-in-the belly enthusiasm and energy, but it also needs seniors for stability and their ability to concentrate on a task to completion."

For a Department of Labor project, Powertek sought out a subject matter expert experienced in a legacy application that their younger workforce wasn't familiar with. The expert, who was past retirement age, was able to quickly ascertain the capability of the application and prepare the necessary documentation in half the time it would have taken someone new to learn.

Older workers have little interest in empire building or becoming competitors of other staff and are able to remain task-oriented. They don't need supervision or feel the urge to flit from employer to employer. The BLS states that the majority of returning workers are in full-time, as opposed to part-time, positions, an increase from 44 percent from 1995 to 2007. In 2007, the median income for retirees was $605 per week, just slightly below the median of $695 for all workers. The sharp decline in physical jobs also helps mature workers remain in the workplace.

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For health concerns, the MetLife Study points out workers 55 and older are two to five times more likely to have disabilities, including chronic but controllable conditions such as diabetes and cardiovascular disease. While they may need additional time to complete some tasks due to a decrease in cognitive skills, they compensate with stronger decision-making abilities. They also take fewer absences than younger workers. They don't have to stay home with sick children or refuse overtime because of parental obligations.

One major obstacle against hiring retirees is the perception that they will somehow become a liability. Statistics prove the opposite is true. When companies ignore mature workers with specific skill sets, business acumen, and intuition gleaned from years of experience, they handicap their future growth. This graying of the workforce won't go away, nor can it be ignored. With the economy dipping, and companies retrenching or moving overseas, those that recruit seasoned workers will sail confidently into the future.

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