Employers Climbing On Older Workers' Bandwagon

A recent BDO Dunwoody CEO/Business Leader poll, conducted by COMPAS Inc., indicates business leaders are suddenly intrigued by the possibilities presented by older workers.  According to BDO’s report, “Keeping Older Workers Essential For Success – Retirement and Retention Strategies That Work”, the majority of business leaders are convinced that keeping older workers in the fold is one key to business success.

Jaded reactions aside, the COMPAS Inc. poll suggests Canadian businesses are firmly in the corner of the aging workforce.  They strongly agree that keeping employees past the traditional age of retirement helps make available workers with knowledge and experience to mentor the young, and that companies which retain older workers will benefit because older workers are more stable and knowledgeable. 

Many of the comments offered by business leaders supported the concept that, in the future, business success will depend heavily on the experience, loyalty, and “institutional IQ” offered by older workers.   One respondent to the poll summed it up, saying “It is rather sad to see major companies screw themselves in their efforts to cut costs, by eliminating knowledgeable and dedicated staff”.

The business leaders polled soundly rejected the concept that companies are harmed by the higher salary and benefit costs associated with older workers.  They also dispelled the notion that, when retaining older employees, bringing in “new blood” and new thinking becomes difficult.

The COMPAS poll may be viewed at:
http://www.compas.ca/pages/FrameMain.html