Their golden years can be your company’s most productive and profitable
Last month we introduced you to the four categories – or personalities – of hourly job seekers that we uncovered after analyzing our database of more than 30 million registered Snagajob members. Understanding each group’s motivations will help you craft better job descriptions, market job benefits that will resonate with each group and ultimately find better fit employees.
To kick off our four-part series, we’ll take a look at what makes retirees tick.
This group stands to have a huge impact on the hourly workforce in the future because the more than 70 million Baby Boomers who are reaching retirement age aren’t planning to leave the workforce anytime soon. A survey by AARP/Roper showed that 80 percent of boomers were planning to continue working past retirement, a finding confirmed by the 1.8 million Snagajob members over the age of 55, 68 percent of whom are looking for full-time hourly positions.
The oxymoron of a “retirement job” – work done after retiring from a career – is becoming commonplace. Whether retirees are working for financial reasons or because they’re not ready to completely exit the workforce, this group cannot be overlooked as a major contributor to companies with an hourly workforce.
Hourly employers stand to benefit from the retirement job trend because older workers bring a lot to the table. The Bureau of Labor Statistics found that older workers have a lower turnover rate, staying on the job twice as long as workers between the ages of 25 and 34; a National Council on Aging study found 97 percent of employers with older workers think they’re thorough and reliable; and a Society for Human Resource Management survey found that employers consider older workers to have a good worth ethic and high work commitment.
So what does this group of potential star employees want in a job?
- Adventure. Many retirees are not done with working, they’re just done with their career. Older workers are looking for something new and exciting. Do you have a new adventure you can offer to this group?
- Flexibility. Retirees are working, but they still want some time to enjoy retirement. If you’re willing to provide flexibility in schedule, your job opportunity will stand out above the rest.
- Training. Older workers have a wealth of experience, but they aren’t ready to stop learning. The opportunity to learn something new is exciting and can provide a sense of pride in one’s work. Can you provide cross-training opportunities?
- Meaning. Work may have just been work in the past, but older workers are more inclined to look for a retirement job that allows them to do something worthwhile or help others. How does your job allow them to make a difference?
- Connections. Many retirees find that they miss the personal connections they had at work. Does your job offer the opportunity to work in groups or teams? Will employees have the chance to interact with customers on a daily basis?
Older workers may need to work, want to work or it may be a combination of both. Regardless, they are looking for key traits in a job that suit where they are in life. If you want to capitalize on this golden opportunity to hire experienced, productive and loyal older workers, you need to take stock of what you’re able to offer and highlight the benefits that matter to them.