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:
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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