The Business Case to Hire Experience
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LABOUR SHORTAGE & EXPERIENCE
EXPERIENCED WORKERS A BOON TO BUSINESS
Manage the Skills and Knowledge Gap In Your Workforce
B
y 2050, life expectancy is expected
to surpass 100 years in some
industrial countries. This new
lifespan is triple the average length
that has prevailed throughout most of
human history.
Businesses have been slow to plan for
the aging of the population. Delay won’t
be an option for much longer. As labour
markets tighten, companies need to take
prompt action to utilize this under-employed
demographic and ultimately turn a bad
situation into a competitive advantage.
There are factors in and out of an
organization’s control but overall, human
resource leaders must be responsive
to changes in their company, industry
and society.
Organizations face many key challenges in
today’s market. Case in point: The first wave
of baby boomers have started to retire. This
reality has created a skills and knowledge
gap in the workplace.
Some of these positions will be filled
through new hires and promotions.
Other jobs will simply be left vacant,
leaving existing staff to assume additional
responsibilities. But there’s another option:
recruit and retain skilled and experienced
workers. Other countries are at least a
decade ahead of Canada in understanding
and implementing strategies that address
this issue.
Business practices also require prompt
attention. It starts with changing how we
view age. Older workers are often bypassed
in favour of younger candidates during
In the employment cycle there will
recruitment, often because of their age
always be people: entering the workforce
and misconceptions about age. But in
(students, new Canadians); re-entering
economies where knowledge rules, the
(back from early retirement, parental leave); experience of older workers gains value.
and leaving (retirement).
We define experienced workers as people
aged 45 and over. Many qualified and