In the current landscape, we are confronted with a twofold challenge: the ageing workforce and a scarcity of top-tier talent. However, amidst these dynamic shifts, employers are showing a growing willingness to embrace older employees, revealed recent ManpowerGroup Employment Outlook Survey.
Employers are also open to hiring individuals who have taken breaks from work due to caregiving responsibilities, pursued unconventional career paths, or experienced long periods of unemployment.
Furthermore, employers in various sectors have expressed positive intentions to hire new employees. The IT industry showed the highest level of optimism, followed by the transport, logistics, automotive, healthcare, and life sciences sectors. Conversely, the communication services sector appeared to be the least optimistic in terms of hiring prospects.
In terms of geographical job demand in India, the northern region leads with a 40 per cent outlook, closely followed by the western region at 38 per cent.
When it comes to enhancing workforce productivity, 44 per cent of employers emphasised the importance of professional development through training, upskilling, and reskilling. Additionally, 39 per cent of employers shared that fostering a positive work culture that includes recognising employee performance is a key driver of productivity.
Meanwhile, 33 per cent of employers said establishing clear goals and objectives for their staff as one of the top factors in driving productivity.
In addition to technical skills, soft skills play a crucial role in the hiring process. Among the surveyed employers, 43 per cent emphasised the significance of communication, collaboration, and teamwork skills.
Meanwhile, 33 per cent considered accountability and reliability essential attributes in potential hires. Additionally, 29 per cent valued reasoning and problem-solving abilities, while 23 per cent highlighted the importance of active learning and curiosity. Furthermore, another 23 per cent recognised the value of resilience, stress tolerance, and adaptability when evaluating talent for recruitment.
Benefits of hiring older employees:
- Older workers are skilled and attentive listeners and prove to be exceptional assets in the workplace due to their receptiveness to training. Their ability to grasp instructions effectively and apply them with minimal repetition is a valuable trait.
- Older talents make excellent employees due to their efficiency and the confidence they have in sharing their suggestions and ideas. Their extensive experience in various roles equips them with a deep understanding of how tasks can be executed more effectively, ultimately leading to cost savings for companies. Additionally, their years of experience have cultivated their self-assuredness, making them unafraid to communicate their insights and recommendations to management.
- Hiring older workers can lead to significant savings in labour costs. Many of them come with existing insurance coverage from previous employers or have supplementary sources of income, which makes them more open to accepting slightly lower wages for their desired positions. They recognise that working for a company can offer more than just financial compensation, appreciating the broader aspects of job satisfaction and fulfilment.
- Committed employees are known to produce work of higher quality, which can translate into substantial cost savings for your business. Their attention to detail and commitment to excellence can help prevent costly errors and ensure the overall quality of the work being produced.
- Lastly, but certainly not least, older workers set a valuable example for their colleagues—an intangible quality highly regarded by many. They excel as mentors and role models, simplifying the process of training and guiding other employees. Their ability to impart knowledge and wisdom makes the overall training experience smoother and more effective, contributing to the development of a skilled and motivated workforce.
In a changing job landscape, embracing a diverse range of candidates, including older employees, can lead to a more productive and dynamic workplace.