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Newsletter - October 2008

OI Partners

Older Workers: Your Greatest Resource

October 9, 2008 - Jean Erickson Walker

“Human society has always been a blending of energy and wisdom –
alas! more often too much of the first, too little of the latter.”
Longevity Revolution by Theodore Roszak

The role of the elders has always been to provide wisdom, to serve as caretakers of the values of the society, to guard against misplaced energy, and to provide encouragement and mentoring to the younger generations.  It is the natural way of life. If you’re letting this critical resource to your company’s success slip out the door, you’re making a huge mistake. 

For the first time in history we have five generations in the workplace, two in the major leadership roles. Look at the numbers. Boomers outnumber Generation X by nearly two to one and the thrust of their careers has been progressive, meaning they were focused on the next step up the corporate ladder. The experience and expertise they bring to the marketplace shows an emphasis on management and leadership, on the interactions and development of people, understanding global demands and opportunities, setting strategic direction, and creating organizational structure and systems for optimal effectiveness.  Generation X has been focused on technology, not people, and regardless of the wonders of the computer age, it’s still people that get things done.  You can’t afford to let your Boomers and the Elders that remain in the workplace take their 401k marbles and head for the golf course.

Recruitment and retention begin with the people who already have keys to the washroom.  It’s not a mystery to find your top producers. They’re the ones who are focused on the company’s well being, who keep their eye on the competition and their stride out in front of it, who understand the cross functional relationships, and have significant EQ (emotional intelligence) to not only get along with people but influence them in positive ways.  Older workers are not likely to be your top technicians and you wouldn’t want them to be. Their time and wisdom is much better spent mentoring others whose primary focus is the current whiz bang. They guide your company dollars as though they were their own and care for your equipment and facilities as though the repair dollars were coming out of their own home budget.

What are you doing to keep them?  What do they really want?  Have you asked them?  You may be surprised at the answers you get because there will be as much difference as there are in the people themselves. Familiar themes, however, include:

  • Money is not as important as opportunities to learn and grow
  • Titles are secondary to respect and access to decision making
  • Projects rather than management roles provide variety and life/balance opportunities
  • Relationships, company identity, teams, belonging are important to them
  • Appreciation and perks go a long way

Surveys of people in their fifties invariably show the majority intend to keep working well into their 70’s.  While economics is usually one of the top three reasons, equally important are wanting to be where the action is, and need to be productive. Don’t expect that nearing the traditional retirement age means a whole lot to today’s mid-lifers. Today’s 40 really is yesterday’s 60 and with an extra ten years added to average longevity, combined with the Boomer generation’s energy and competitiveness, they’re just getting started. That’s the good news for you and your company.

“Wisdom is among those powers of the mind that cannot be imitated by a computer.
Ours is called the information age, but wisdom has little to do with information.
If there is one quality elders should be able to claim as peculiarly theirs, it is wisdom.”

Theodore Roszak

Tap into the wisdom of your older workers, encourage your retirees to come back, and you will have rediscovered your greatest resource.

Jean Erickson Walker, Ed.D., CMF is the author of The Age Advantage: Making the Most of Your Midlife Career Transition (Putnam/Penguin, Sept. 2000) and a managing partner with OI Partners - Pathways Inc. (Portland). In addition, she currently serves as chairwoman for the Board of Governors of the Institute of Career Certification International, the only international board certification for career management professionals. She can be reached at jwalker@oipartners.net or 503-221-8747.