Attracted to the hard work, reliability and experience of workers 65 and older, more employers are actively seeking them out, The Wall Street Journal reports.
Up until this point, the prevailing belief has been that some older workers and un-retirees continued working because they needed the money or wanted to remain active.
Now, apparently, some employers, exasperated by a decline in work ethos among younger generations, are going out of their way to find seniors.
Kip Comforti, owner of package shipping stations in Pennsylvania, is one such businessman. A year ago, he started looking for people who might carry AARP cards instead of iPhones. His mindset changed after employees kept arriving late, calling out sick or were glued to social media on their cellphones.
Today, Comforti’s top job candidate is a man in his 70s.
Certainly, economists’ research bears out the fact that there will be more older people in the workforce in the years ahead. The U.S. Bureau of Labor Statistics predicts a 50% increase in the number of workers 65 and older by the end of the decade, with the number rising to 16 million by 2030.
55+ Fastest-Growing Labor Sector
In fact, workers 75 and older are anticipated to nearly double, soaring by 97%, according to Seniorly, while those 65-74 are expected to increase by 42%.
People 55 and older are the fastest-growing sector of the workforce, according to federal data.
“The learning curve is a bit longer,” Comforti says. “But once they get it, God, it’s refreshing. I say, ‘This is what we’re doing today,’ and it gets done. Their shift starts at 9, and they’re here at 8:50. It’s their work ethic.”
Travis Trautman, senior director of talent acquisition at KinderCare Learning Centers Inc., which began seeking out workers age 50 and older last year among an acute child-care worker shortage, agrees.
“There’s a willingness from this group to work the opening shift or to close down for the day, to cover lunches and breaks, or even be on call as needed,” Trautman says. “I could go on and on about the value and the benefits.”
A Wall Street Journal-NORC survey of Americans’ values last month bears out older workers’ work-ethic competitive edge. Seventy-five percent of people age 65 and older said hard work is important to them personally, while just 61% of 18-to-29-year-olds said the same.
For knowledge-based industries, the institutional knowledge and mentorship abilities of seasoned workers is also an appealing draw for employers.
Certainly, another major reason why older people are likely to remain in the workforce longer is longevity that gives them the physical and mental stamina to keep being productive—as well as longevity that puts additional pressure on their retirement savings to last longer.
Equity, Diversity & Inclusion—of Those 50+
Added to this is a movement to combat ageism by influential organizations like AARP. For the past 11 years, AARP has asked companies to sign a pledge to give workers age 50 and older a fair shot in hiring. Bank of America, Microsoft and H&R Block are among the 2,500 companies that have signed the oath, with commitments rising 122% in 2022 alone.
“It makes great sense to hire experienced workers,” says Heather Tinsley-Fix, senior adviser for employer engagement at AARP. “More companies are also recognizing the need to include age in their diversity, equity and inclusion efforts.”
ManpowerGroup began seeking out what it calls “mature” workers in 2021, with Laurel McDowell, 69, coming out of retirement to return to Manpower to spearhead the effort.
Older people value stability and, therefore, are less likely to job hop than folks in their 20s or 30s, McDowell observes. Also, employers are frequently able to hire mature workers for “a very reasonable cost,” she says.
The Society for Human Resource Management believes, anecdotally, that age discrimination has lessened meaningfully in the last decade, says Johnny C. Taylor, Jr., CEO of SHRM.
Now, more than ever, companies are reconsidering retaining or hiring people with experience under their belt, Taylor says.
“With the economy slowing down, companies need fewer people and need the people who are there to be OK with working hard,” Taylor says. “Instead of trying to convince younger generations to be something different, some companies are saying, ‘Why don’t we just go hire people who are naturally predisposed to work harder?’”
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