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April 13, 2021

Why you should be Hiring and Retaining workers over 50

We are going to put it out there: exclusively hiring younger people because they’re cheaper, well, cheapens your business. Of course, we’re not here to tell you to put an outright ban on hiring young people, but we certainly advise against counting out more senior workers. In fact, older workers can bring significant advantages to your business.

Considering that 1 in 4 hires will quit in the first 6 months and the average cost per hire is $4k, it’s much more desirable to put the focus on retaining and developing good talent. A great company wants talented people regardless of their age. But a surprising amount of people actually believe that older age is a competitive disadvantage - two-thirds, according to a study by the Harvard Business Review. Not only is this attitude morally questionable (do we not owe it to dedicated and committed older workers to invest in them?) but economically, too. The benefits of more senior hiring are plentiful:

  1. Experience really does bring an edge. While it’s unfair to hire based on experience alone (often leaving those without in a vicious cycle of rejection), it’s true that there is no replacement for the wisdom gained over the years. It should also be taken into account that the median tenure of workers ages 55-64 in all industries was 10.4 years in 2014. A decade in an industry makes a world of difference


  1. Confidence and decision-making ability is another advantage of hiring workers over 50. Their experience undoubtedly means they have a more in-depth knowledge of how to work efficiently - saving businesses time and money


  1. The potential for mentorship is high. When you have some more senior workers that understand the ins and outs of the business, employee training suddenly becomes much easier, and other workers have someone to look up to


  1. Largely, older workers have good attitudes to work - especially when taking tenure into account. It’s less likely they’ll be on the lookout for pipe dreams and risky career paths, and they’ll be more experienced in dealing with everyday stressors simply because they have dealt with more adversity


Business owners that are hesitant to hire older workers should really consider why -- and then check this list out again! Small businesses especially do not have the resources to be dealing with consistently high turnover, and the truth is that this is more common with an exclusively young workforce. The impact of more senior hiring on your bottom line, on company culture, on business efficiency, is not to be ignored.


We help business leaders hire and retain top Tech & Digital talents so they can build high performing teams, ensure knowledge is transferred, achieve company objectives, and scale their businesses.

Here are 3 ways I can help if you are serious about taking your business to a whole new level:

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