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Advice & More February 2013

Dollar Sense

Too Old to Hire, Too Young to Retire? Nonsense! Research Shows Older Workers are a Bargain

By Teresa Ambord

Certainly technology doesn’t come as easily to most older people, and younger individuals almost seem born with a knack for computers. But surveys show that for many employed seniors they put high priority on finding challenges in their work and they value learning new things.

This tough economy has been hard on all of us, in many cases, even harder for older workers or job seekers. After decades of loyal work, when we get laid off and begin the job search for new employment, the results are less than encouraging. Age discrimination is illegal, but we all know illegal things happen every day. Beyond that, the facts just don’t support the common notions that older workers are most costly and less productive. In spite of popular notions, employers who want more for their money would often be wise to hire grandma and grandpa.

Here are some of the false stereotypes that are associated with older workers.

  • Older workers cost more in health care. Yes, age often brings more health problems, and yes, older workers may take longer to recover from an illness or injury. However, research shows that in general, older workers take fewer sick days. Many younger employees view paid sick days as extra vacation time to be taken at will. Older employees are far less likely to need dependent coverage. And once they become Medicare eligible at age 65, they may not need coverage at all.
  • Older workers are less productive than younger workers. One study revealed that older workers have greater interpersonal skills, making them more able to deal face-to-face with customers successfully, as well as facilitating relationships with coworkers and superiors. As more and more conversations move online these days, younger generations are certainly adept at virtual communication and often, less skilled at actual interaction.

As mentioned above, older workers generally have less absenteeism and less turnover. They get a job and intend to learn it and stick with it, whereas younger workers often view a job as a one- or two-year commitment at best, until something else catches their attention.

Peter Cappelli of the Wharton Center for Human Resources said “The evidence is unbelievably huge. Basically older workers perform better on just about everything.” Some believe older workers should be let go in favor of younger employees that can be paid less. Big mistake. More experience, longer time on the job, general overall greater knowledge, all of these add up to greater productivity. According to Cappelli, these attributes more than justify a higher salary.

Another study done at the Sloan Center on Aging & Work (Boston College) indicated that in general, older workers do not lose interest in their work. Those who work past retirement age are shown to become more engaged and satisfied with their jobs over time.

  • Older people resist learning new things. Certainly technology doesn’t come as easily to most older people, and younger individuals almost seem born with a knack for computers. But surveys show that for many employed seniors they put high priority on finding challenges in their work and they value learning new things.

Some say older workers need to move over and retire so that younger workers can have their jobs. Reality is, many older workers cannot afford to retire after the ravages of the stock market on their retirement funds and the lost value in their real estate holdings, not to mention the constant barrage of attacks on Social Security.

More and more, as generations of families are forced to move in together, younger family members rely on Mom and Dad to put a roof over their heads. That means there is more financial strain on the resources of the older generations.

Not only do many older people need to work to keep body and soul together, but forced retirement is bad for a nation’s health. Professor Olivia S. Mitchell (Wharton School of Business) reports that in countries where retirement at a certain age is encouraged, the system falls apart. Retired individuals rely on the tax paid by younger workers. More retired people means more taxes required to pay the pension liabilities. Higher taxes translates to businesses keeping wages low and less hiring. Employees with lower wages spend less and save less, and economic growth is suffocated.

There will always be voices that say younger is better in every way. Don’t buy the lie. Baby boomers and those who preceded them are still the hardest working generations.

 

Essential Job Skills

The Wall Street Journal says that employers are looking for workers that can go beyond basic competency. Nothing surprising there, although it is true that many job hunters bring very little to the table. Based on information gathered from experts in employment, here are the skills you need to develop and showcase if you want to be hired or promoted.

  1. Clear communication. Seem obvious? It should be, but sadly it isn’t. We love technology for easy communication, as more conversations take place online there is a diminished ability to communicate both in person, and in writing. “Technology in some ways has taken away our ability to write well. People are in such a hurry that they are multitasking,” skipping proofreading and spelling accuracy, said Paul McDonald, senior executive director of Robert Half International staffing firm.
  2. Personal branding. If you write a blog, post on Twitter, or have any other networking site, be sure to present yourself professionally. “That’s your brand, that’s how you represent yourself,” said Peter Handal, CEO of Dale Carnegie Training. Right or wrong, anything you post that presents you as flaky could keep you out of a job or a promotion.
  3. Flexibility. Employers have changing needs, and they want employees who can roll with those changes to a reasonable degree. It’s important to be nimble, and be willing and able to learn new skills.
  4. Productivity improvement. Can you find new ways to improve productivity? This could be your personal productivity or for your department or company as a whole. A survey by one business and research advisory firm found that executives are looking for a 20% improvement in employee performance next year. Here are ways to show a willingness to improve:
  • Volunteer for projects.
  • Look for creative ways to help the company by making better use of resources like office supplies. It’s common for employees on the front lines to notice areas of waste that supervisors don’t see. Show yourself to be proactive by taking your suggestion to someone who can do something about it. Even if it is not used, you may boost the overall impression of you as a good worker.
  • Demonstrate that you are not afraid to get your hands dirty by doing something that might be considered “beneath you,” something that may not be your job, but isn’t prohibited. For example, if a trash can in the office is overflowing, don’t wait for maintenance to get to it, and don’t call in the janitor. Just empty it.

Job Boards for Seasoned Workers

Here are two online job boards dedicated to senior citizens. Check out both of them, but as you will see from my comments, one is better than the other.

  • Retirementjobs.com. This site allows you to enter keywords, such as bookkeeping, sales, etc. But when I tried it, nothing came up. I live in a small population area, so I was not surprised. However, when I entered no keywords, I was pleased to see many jobs that came up, some that actually specified they like older workers.
  • Seniorjobbank.org. This site turned up many jobs, but I was less impressed. Although it asked for my zipcode, it listed some jobs that were 2,000 miles away. Why bother to ask location?

Buff Up Your Resume

Before you send it off, pull out your resume and dust it off. Here are a few points to consider.

  • When listing your experience, don’t go back more than 15 years, or leave off dates completely. Some applicants list every job they ever had, making the resume bulky and annoying. The last thing you want to do is annoy the person with hiring power.
  • If you do have experience that you want to highlight but it is decades old, list it under “More experience,” and skip the dates.
  • For education, if you went to college, don’t bother to list high school. If you didn’t go to college, be sure to mention that you are a high school graduate, but again, no dates. There’s no need to call attention to the fact that you graduated from high school before the hiring agent was born, which could well be the case.
  • Target your resume to the job description. If your resume is on the computer, this should be a simple matter. Read the job description carefully, then highlight the experience you have that is pertinent. That can make your qualifications pop, and again, it could help you avoid annoying the hiring agent who otherwise would have to search for meaningful information.
  • Show you are connected to the world of technology. Do you have a LinkedIn profile? If not, it’s a simple matter to set one up. It shows hiring agents you are engaged in technology. Just go to LinkedIn.com and follow the instructions. They are very good at providing assistance.
  • If you list your email address as a means of contacting you, use a businesslike address, rather than one that sounds frivolous. If you generally use an address that is personal, like This email address is being protected from spambots. You need JavaScript enabled to view it. , your grandkids may love it but a hiring agent is unlikely to take you seriously as a job candidate.
  • Be prepared to email your resume. This is the way most hiring agents do business these days, and in the long run, it is easier and cheaper for you and them.

 

Teresa Ambord is a former accountant and Enrolled Agent with the IRS. Now she writes full time from her home, mostly for business, and about family when the inspiration strikes.

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