Why You Should Hire Retirees

What do businesses everywhere need? Employees. Look at the data on older individuals’ job performance and abilities: They get mind-blowingly better with age. In this article, we zero-in on what benefits your company can accrue from recruiting retirees.

You’d like to hire employees who are honest, responsible, dependable, loyal, focused, organized and mature. Get the benefit of boomers who don’t want to stop working. They are changing the workplace and can be a bonanza for your business.

Consider demographic trends: The boomer population is followed by a bust before the next big bubble of Gen Y goes to work. That gap in the middle means a potential disruption in knowledge transfer and in a steady supply of skilled employees. Such obstacles can be alleviated by hiring older workers.

Overcome your misplaced preconceptions: What ingrained prejudices do you have? You are not alone; it’s a pervasive cultural problem. For example, there’s the presumption that the leader always knows more and has wider experience than his/her subordinates. This is based on management styles from another era.

Take advantage of America’s expanding pool of senior talent as a boon to your business: Consider hiring a retiree who can evaluate and update your firm’s practices.

Where can you find a dependable, steady workforce that has no plans to move up and out? A workforce that is dedicated to the job at hand and takes pride in the work? Who will cost you less to hire, train and maintain? Older workers and retirees. In areas that lead to success — interpersonal skills, flexibility and teamwork — older workers excel.

Here are 12 excellent reasons why hiring retirees or older workers can provide significant cost savings in both the short and long term:

  1. They tend to detect others’ mistakes. Stories abound of highly committed older workers finding others’ potentially costly mistakes regarding everything from misspelling client names to pricing errors to accounting miscalculations.
  2. They arrive on time and ready to work. Punctuality seems to be a given. As a group, most older workers look forward to going to work each day.
  3. They value personal integrity. A devotion to truth is common among retirees.
  4. They’re focused and attentive. Their intangible value in this area rubs off on all employees, which can save your business thousands of dollars. Take this story: A 75-year-old clerical worker recognized that the ZIP codes were all off by one digit. Neither the owner’s mailing house nor his marketing manager had noticed it.
  5. They’re good listeners. Retirees are easier to train and only have to be told once what to do.
  6. They take pride in a job well done. Older workers have a sense of pride in the final product.
  7. They bring maturity. Years of life and work experience makes workers less rattled when problems occur.
  8. They serve as excellent mentors. Older employees are role models who make training other employees easier.
  9. They understand workplace politics. Retirees know when and how to communicate and know how to diplomatically convey ideas to the boss.
  10. They reduce labor costs. Retirees already have insurance plans and may have an additional source of income from prior employers. They are willing to take a little less to get the job they want. They understand that working for a company can be about much more than just collecting a paycheck.
  11. They work well with customer-oriented businesses. Retirees are focused on stability, something to do, reasons to be useful and ways to interact. If you need good customer-service skills, older workers tend to be more empathetic and better communicators.
  12. They bring skills as accountants, contractors and specialty tradespeople.

Older workers’ skills and values, as well as the potential savings to your company in time and money, make hiring retirees a simple matter of rethinking the high costs of turnover in a more youthful workforce. The next time you make a hiring decision, seriously consider older workers, whose contributions can positively impact your bottom line for years to come.

Developing and managing a great team doesn’t have to be daunting. Let Aloha Payroll help you manage your workforce with our innovative, service-oriented Payroll and HR solutions.




Industry Newsletters 2017