A Benefit to Business: Experts aged 50+

January 26, 2015 Blog, News

The skills and experience of older employees are a fundamental cornerstone to a company’s success. However, only few are willing to consider experts aged 50+ when recruiting new employees, as revealed by the survey “HR Trends in Mid-Sized Companies” that was carried out by QRC Group AG.

  • Companies outside major cities are struggling to attract high potential candidates
  • In spite of this, only few actively approach older specialists with job offers
  • Experts aged 50+ contribute valuable skills and knowledge, helping to strengthen a company’s success
  •  They also help ensure that knowledge is passed on across generations of employees

NUREMBERG/January 2015 Companies today have to fight for the brightest minds. Interest is primarily focused on university graduates, students and pupils, who are all in high demand. It’s no wonder: demographic changes in Germany mean that fewer and fewer of the younger generation enter the labour market. Unlike before, many young applicants now have a broad choice in terms of where and for whom they wish to work, which presents companies in Germany with a whole new set of challenges.

Companies in the area are increasingly struggling to attract high potential candidates. Attracting young talent away from the city and out into rural areas requires much more than just good job prospects. An opportunity for greater success in the market may well arise by shifting focus and actively targeting experts aged 50+.

Older professionals are misjudged as being potential candidates

As the QRC survey shows, opinion is divided among companies. Whilst around a quarter of respondents actively approach the older target group with offers, 38 percent do not consider this an option. The results of the survey also reveal that as long as there is still a sufficient number of young professionals to be gained, older professionals continue to be misjudged as potential talent. An indicator of this is the lack of part-time working schemes for employees close to retirement age, something which is only offered by around 29 percent of respondents.
Older experts have a considerable advantage: they are equipped with the skills and experience that the younger generation has yet to acquire. A further advantage of recruiting specialists aged 50+ is that they ensure the passing on of knowledge across generations of employees. And not just this: older experts are no longer “on the move”, i.e. they do not switch employers as frequently as many younger employees do.

How to keep experts aged 50+ productive

Attracting experts aged 50+ out to rural areas is a great deal less complicated than with younger talent. Companies should therefore introduce measures and structures that keep their employees productive in the long term, such as offering opportunities to undergo further training or to gain qualifications. These should also include flexible working hours and measures that unite an employee’s career with his or her current phase in life, things which are important considerations for older employees.