One of the important implications of globalization is the diversity in the workforce. As the business organizations are spreading worldwide, people of various age groups, culture, ethics are coming together to work as a team.
Unlike the corporate sector, where many seniors work along young talent, startups hire fresh grads and young individuals. This has its own benefits, as youth is more enthusiastic about innovative ideas and taking the startup to the next level. They see the world from a different angle and this is true to a greater extent.
Older people, on the other hand may not show the same enthusiasm or energy at times, but they do have experience and their knowledge is as valuable as the young talent’s enthusiasm.
You may, however, have come across several cases of ageism, which is basically treating aged employees in a different and unequal matter. Being a startup founder, this should be a matter of concern for you and you must make sure that your company treats everyone equally if you are planning to hire senior citizens. And most importantly, you should know the pros and cons of hiring old age people so you can expect their performance accordingly.
Following are some of the advantages and disadvantages of hiring older people.
- Older workers tend to have more practical knowledge and expertise as compared to their young counterparts, which comes as handier. Also, they have sufficient knowledge about a wide range of tools and software that are used in a business.
- For older workers, job security is more important than money, thus they cost much lesser than the younger employees, thereby saving on the manpower budgeting.
- As they are more concerned about job security, they are more likely to stay with your company in long run and so you can trust them more.
- Older workers sometimes find it difficult to cope with the change in the technology and takes time to get used to new software and skills.
- Generally, there is no sense of competition in older workers as they are usually satisfied with their job. This absence of spirit and competition leads to lower productivity in employees.
Wrapping it up
Knowing the advantages and disadvantages of hiring older people can give you a clear idea of what to expect and how to train your employees to meet the startup’s needs and to grow it to the next level.