Too good to ignore
THOUSANDS of managers have their ‘‘ heads in the sand’’ by not recognising the disaster unfolding for their business by not hanging on to or hiring mature-aged staff, a workforce expert says.
IB Coaching development consultant Merydith Willoughby says workers born between 1946 and 1965 will leave the workforce ‘‘in droves’’ in the next few years as they reach or near retirement age.
‘‘The head-in-the-sand approach to management has never worked yet thousands of organisations are doing just that by not recognising the disaster that is unfolding right before their very eyes,’’ she says.
‘‘If it hasn’t already, it will have a huge impact on business within the next few years unless action is taken, right now.’’
She says the retirements will exacerbate the skill shortage business is facing.
‘‘Review your policies and identify how you can benefit from this age group,’’ she tells employers. ‘‘Hire baby boomers when you need to get someone new. Offer them part-time and flexible working conditions and get them to mentor younger employees.’’
She says managers need to encourage older staff to stay on beyond the traditional retirement age of 65 and realise employees want to continue working beyond the traditional milestone. Regardless of when they retire, the skills, abilities and knowledge of mature-age workers need to be harnessed before they leave, she says.
‘‘Harnessing this generation of workers’ skills can be a win-win situation for you, your business and for the baby boomer generation as they have ready-made skills, experience and maturity,’’ Ms Willoughby says.
‘‘With the current economic conditions, they may also need to top up their savings.’’