Boomer Labor Power
For years, companies have sought out younger corporate talent to replace aging executives. What has evolved is the appreciation for the 50+ sector that brings a broad span of experience in human development, generational understanding, fiscal needs, and more.
In a recent survey from the Society for Human Resource Management (SHRM), employers agree that the Boomer Labor Power of 50+ employees has many advantages. A few statistics that emerged from this survey:
- 77% of older workers have more knowledge and skills than their younger counterparts
- 71% are more mature and professional
- 70% have a stronger work ethic
- 63% are good mentors
- 59% are more reliable than their younger counterparts
The SHRM survey of its members also indicated that only 36 percent are beginning to examine internal policies and management practices to address the issue of the potential loss of experienced talent through retirement.
Is you company prepared or will Boomer Labor Power persist?
The shift toward older executives working longer …
The number of executives working in and through retirement years has been building for the last decade. They are proving that they can make a greater contribution as the Boomer Labor Power to an organization in a shorter period of time. They are healthier than their counterparts from 10 to 20 years ago. In addition, most have been in the workforce throughout the computer evolution so they have kept up with technology and learned to adapt quickly to change.
According to some executive recruiters, more organizations are hiring older employees – a trend that has picked up speed in the last few years. Their rationale is that age doesn’t matter if you have the right skill set and experience. They don’t worry so much about the length of the hire because many employees today tend to move on within three to five years anyway. (Source: http://www.diseco.com/more-companies-are-hiring-older-workers/)
Are you seeing this shift to Boomer Labor Power?
On the other hand…
A recent article, “Why Aren’t Firms Planning for an Aging Workforce,” by Jim Emerman, Executive Vice President of Encore.org, revealed that many companies are undervaluing older workers and how a few forward-thinking companies are implementing programs to tap the strengths of the Boomer Labor Power.
You still need to “sell” your assets…
To get the job the formula remains the same.
You need to demonstrate to the hiring manager or recruiter who you are and what you can do for an organization. As a 50+ executive job seeker, you have the advantage of highlighting your seasoned reliability, good judgment, ability to listen, problem-solving ability, and comfort level in working with different types of personalities. Also, it’s critical to emphasize how your valuable life experiences, perspective, and ideas can benefit a team comprised of different ages and add a positive, new dimension to a diverse workforce.
What are you or your company doing to be prepared for the Boomer Labor Power shift?
Louise Garver is an award-winning, certified resume writer, executive career coach, branding, online identity, and job search strategist. Previously her career included recruitment and corporate management experience. Co-author of “Win Interviews!: The New Must-Have Game Plan”, Louise earned 13 career-related certifications, a master’s degree, and post-graduate certification in career counseling.
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