According to the Canadian Government, in 2014 over 6 million or 15.6% of Canadians were 65 or over. By 2030 this number will rise to 9.5 million making up 23% of Canada’s population. The stereotype of the doddering older person is no longer true, and in fact they can be every bit as creative, innovative and entrepreneurial as their younger counterparts.
Many older people want to stay within the work force either in full, part time or flexible jobs, or by creating self-employment opportunities for themselves. According to the US Bureau of Labor Statistics, between 1995 and 2016 the share of men in the work force aged 65 to 69 in rose from 28% to 38%, and for women the increase was from 18% to 30%. Self-employed and entrepreneurial older workers were the highest percentage of any age group, and five times greater than the 24–35 age group.
Here are some reasons why hiring older workers can help you to maintain a reliable workforce and provide a significant cost savings.
Next time you are hiring, consider an older person for the skills, values and potential savings in time and money that they can bring to your company. Rethinking the costs of high turnover of younger staff vs the benefits of more mature workers can make a positive difference to your bottom line.
From an article by Stephen Bastien in Entrepreneur
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