It may seem like millennials are all the rage when it comes to hiring fresh talent, but if your business is overlooking baby boomers, you’re making a hiring mistake.
While their presence in the workforce is waning, baby boomers can offer your business the wisdom of experience paired with a sense of loyalty that can be hard to find in other generations.
If you want to keep a low turnover rate, hire more baby boomers. More than 40% of baby boomers have spent longer than 20 years with the same employer, reports Fortune. On the flip side, Gallup research shows that 21% of millennials have switched jobs in the last year. What’s worse, the turnover rate from millennials leaving costs the economy $30.5 billion annually.
If you’re worried that employing a baby boomer means you’re hiring someone who’s on their way out, know that baby boomers are staying in the workforce longer than any other previous generation. In fact, 85% of baby boomers plan to work into their 70s and 80s, according to research from Deloitte. Baby boomers are even starting entrepreneurial pursuits at high rates. They’re not going anywhere.
Small businesses spent an average of $46,692 training new employees in 2017, according to the 2017 Training Industry Report. Imagine if you could save that money each year.
By hiring more experienced employees, you can. Many baby boomers have decades of experience under their belt, so they can hit the ground running when they start working for you. On top of that, they’ve accumulated years of wisdom they can share with other employees. They might even be able to teach you a thing or two about running your business more effectively if you’re open to it.
Apart from not having to train baby boomers as extensively, you also won’t have to spend as much time micromanaging them. Baby boomers tend to be independent problem-solvers who take care of things on their own and likely won’t need your help as often.
This attribute also lends itself to leadership abilities. If you’re looking to hire someone who can lead and inspire fellow employees, or if you’re simply tired of giving employees the same directions twice, a baby boomer is an excellent choice.
Another benefit of their decades of experience in the workforce, baby boomers tend to come with extensive connections that could serve to benefit your business. At this stage in their career, they’ve often worked with other big-name companies and clients, and that’s valuable knowledge to transfer to your company.
In today’s world, where networking is key to business, hiring a well-connected baby boomer just might be your business’s ticket to landing the next big deal or client.
Baby boomers have lived through a lot, from the end of World War II and the Vietnam War to more than a few economic crashes. All of these challenges make for a resilient generation that’s always up for tackling the next big obstacle.
Many employers hesitate to hire baby boomers thinking they won’t be able to adapt to new technologies. However, baby boomers have already lived through and adapted to immense technological advances.
Give baby boomers a chance, and they won’t just shatter your misconceptions—they’ll stick by your side and help you grow a bigger, better business.