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HOW RETIRED EMPLOYEES CAN HELP COUNTER TALENT SHORTAGES

Amy Marcum | Insperity

Unemployment rates remain at historic lows, which is widely considered good news. However, many employers are struggling to find skilled workers for open positions. Retired employees returning to the workplace can offer a relief from these struggles, and provide various benefits to an organization.

Many consider retirement a well-earned break from the workplace, and a chapter in life to pursue personal interests. However, there are a growing number of people who are interested in exploring a second career and this is where businesses can capitalize.

Companies planning to fill part-time vacancies may have the most success with the recently retired. A 2016 report from the Bureau of Labor Statistics shows that almost half of workers over age 65 are employed part-time, whereas only 18 percent of those aged 25 to 54 are part-time.

A few of the reasons why businesses should consider filling gaps in the workforce with skilled retirees include:

Providing Mentorship Opportunities

Bringing in experienced workers with years of specialized experience can boost the workplace in many ways. Younger or less experienced employees can learn from their expertise, helping to address any skills or knowledge gaps in the workforce. Using training or mentoring opportunities will also allow junior employees to get up to speed quicker and make
fewer mistakes.

Adding Value

People who have spent decades in the workplace generally know how to conduct themselves in a business setting. They have honed their skills over time and are highly efficient. As a result, seasoned employees require less onboarding time and can start adding value to the company faster than entry-level workers. They often possess good decision-making skills, developed through years of trial and error.

Their experience also means they may be more confident when speaking with senior management, leveraging their own seniority to add
persuasive power.

Offering a Different Perspective

Employees in a certain age range have different priorities than those starting their careers. Large salaries and promotions may be the focus of younger workers, but retired or retiring employees are often looking for something else to make a difference. Contributing to their employer’s philanthropic initiatives, getting involved in volunteer opportunities or sharing insights with junior employees are a few ways they can do so. In turn, these pursuits enhance the organization’s public image and social impact, and drive success and growth.

More retirees than ever are interested in pursuing a second career or reentering the workforce. With a rising number of companies struggling to find suitable candidates, this market provides companies with a great chance to hire highly skilled and knowledgeable employees.

Amy Marcum is a senior human resource specialist with Insperity, a trusted advisor to America’s best businesses for more than 31 years. Insperity provides an array of human resources and business solutions designed to help improve business performance. Additional company offerings include Human Capital Management, Payroll Services, Time and Attendance, Performance Management, Organizational Planning, Recruiting Services, Employment Screening, Financial Services, Expense Management, Retirement Services and Insurance Services. For more information, visit http://www.insperity.com.