Employers need to look at hiring and keeping older workers much more seriously over the next decade for a variety of reasons. Accommodating older workers isn’t hard – it’s just different.
Companies are still wrapping their heads around shifting from the centuries-old model of redundancy and rehiring to retraining and reskilling as roles change.
But with 739,000 more jobs than candidates in Australia and 4.5 million in the US by the end of next year we need to adopt this new mindset.
Many assume that it is more expensive to retrain and reskill, but In fact, the opposite is true. It costs 50 – 200% of someone’s annual salary to replace them – and a lot less to retrain them.
I was asked to write an article for MyBusiness.com.au on this subject (link below in comments). In it, I reference GHD and their Career Relaunch Program. This is a great initiative designed to bring people back into the workforce who have been out for a while.