Employers who are looking to reduce turnover might want to consider hiring older workers, not recent college graduates, according to a new study.
The study, released by the Bureau of Labor Statistics, shows that workers ages 55 to 64 have been with their current employers a median of 9.3 years, while workers ages 25 to 34 have a median tenure of only 2.9 years.
HR professionals say the mix of a tight labor market and baby boomers postponing retirement has encouraged employers to hire and retain experienced older workers.
Workers over 50, however, cite health-care coverage and competitive retirement benefits as their greatest financial incentives, according to a 2005 survey conducted by Towers Perrin for the AARP.
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danakeith on May 28th, 2008 at 2:02 am
If I were the employer, I’d rather keep my older employees who worked for me for a long period of time, through that I can assure that they were loyal to me and I know things will be even better cause I already proven his/her worth, than to have a new and young ones.