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An expected wave of Baby Boomer retirements has some managers fretting about worker shortages. But experts say many firms are overlooking a big supply of potential employees--older workers who can be wooed to continue working.
Employers who ignore older workers now will suffer as boomers near retirement age, says Melanie Cosgrove Holmes, a vice president at Manpower. By 2012, nearly one in three U.S. workers will be over 50, according to AARP, a group for people age 50 and older. "Progressive companies that are looking ahead...are the ones that are going to be most successful," Ms. Holmes says.
About three years ago, Home Depot Inc. sought to tap older workers as it opened new stores. The firm contacted AARP, and the talks led to the creation of the association's "National Employer Team"--companies that it endorses as friendly to older workers. Thirty employers now belong to the group, including Principal Financial Group Inc., Borders Group Inc., and MetLife Inc. AARP members can search for jobs at the companies through the association's website.
To attract and retain older workers employers should take the following steps:
- Offer flexible schedules
- Provide training opportunities
- Feature older people in recruiting material
- Offer competitive health care benefits
- Train supervisors to manage workers of all ages
Source: The Wall Street Journal, January 14, 2008
