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Aging Workforce and Training
   Wed Sep 16, 2020 4:46 am

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Aging Workforce and Training

Permanent Linkby Ostincram on Wed Sep 16, 2020 4:46 am

It is becoming apparent that the baby boomer generation, the aging workforce, is a feature of many organizations now as the life expectancy has risen. The other reason is the decreasing number of the younger generations in the workforce due to the declining number of children per family. It is, thus, imperative for the company to know the added benefit of having an aging workforce and its impact on the image brand. Additionally, it should be determined whether there is any value in hiring an aging workforce considering their training and studying. Hence, this paper aims at analyzing the advantages and disadvantages of the aging workforce from a human resource professional perspective as well as its impact on an organization’s overall image.
Value of Aging Workforce
From the perspective of human resource, retaining high-value employees after their retirement age can be useful for the company. The industries like energy and health care suffer from skills shortage and in a short while the technical and scientific fields will encounter the same problem. With the increasing competition for younger workers, this can be a way for an organization to overstep the global competition for employees.
Furthermore, the research has shown that the older employees, specifically the baby boomers, can be more devoted and work-centered than the younger generations. Additionally, job satisfaction in this generation of workers is higher; therefore, it leads to harmony and better productivity in the workplace.
Secondly, in some companies like the Casual Worker Program, it can be cheaper to rehire their retired workers because the elder workers can receive limited benefits and no pension. These employees might even assist in increasing the productivity of the other colleagues. For instance, some companies have grandparents working at the company child care centers. As a result, parents who work in the organization are not getting anxious about their children back at home and are, hence, more efficient.
Lastly, in some of the industries such as the financial sector clients feel more comfortable dealing with the older employees than the younger workers. Additionally, the older workers can be used to train the younger generation. Thus, failing to hire the older staff might lead to a loss of a competitive advantage for a firm.
Aging Workforce and the Overall Image of an Organization
According to the client perception, the older employees are more honest, reliable and trustworthy in some spheres, especially those dealing with the finances. Their presence in the workforce can promote a positive picture of the company as well as an organizational image of loyalty.
However, there is also an opinion that older employees can be inefficient due to their age. Additionally, in some instances, they can also be inflexible as they follow the older methods of doing things rather than embracing the changes. Some people can refer these traits to the organization. Thus, in addition to the image of a company that retains older employees being reliable and loyal, it can also appear as non-vibrant and unyielding.
A Thriving Employer Brand
Branding is the process of making an employer noticeable in the market possessing the exceptional working standards. An employer brand is, thus, the attributes and the qualities of the boss. Moreover, it has to contain some distinctive features to be thriving which can be reached with the help of promising and delivering the employment experience aimed at attracting those who will flourish and achieve the best performance results. Although most people with at least two bosses have had exposure to the brand experiences, they still can vary from one employer to another.
The first type of training involves skill upgrading and technology improvement. Many of the older generation workers might be not familiar with the new technology that is shaping the workplace now. Thus, it is of substantial importance to the human resources department of the organization to educate the older employees on the basis of such technologies. Unlike the Generation X, who have grown up during the high-tech era, the elder generation may find these innovations to be strange. As a result, training would lead to more efficiency.
Secondly, it is essential for the company to train all the employees on cross-generational relations. In an age-diverse workplace, there may be an element of generational strain and conflict, however, insignificant, due to the differences in the approaches to the issues and the ways of dealing with them. The training in this area will be requisite for maintaining a productive and harmonious workplace.
Lastly, a course that prepares the older personnel for internal and external workplace mobility is imperative. It is apparent that an older workforce may not be able to undertake some types of tasks as before due to their age. Consequently, the training that allows them to accept the more suitable roles can contribute to the increase in their productivity.
How HRM can determine if there is Value in having an Older Workforce
Ascertaining the value of an aging workforce can be a challenge as some of the benefits are intangible. However, there are several ways to determine if it is worth having the same workers. Firstly, the quantitative methods of evaluating the productivity are useful since they involve measuring the number of units the employee can produce during a particular period. However, the quality of work in this case also has to be considered (performance quality). For instance, if an employee can produce 20 units per day but 10 of them are faulty, their productivity is ten units, not twenty. In the service industry, the organization can use the number of clients served in a day or an hour; however, this can be subjective.
Secondly, a 360-degree feedback is also a crucial facet of the employee’s productivity assessment. In this method, the employees are rated using feedback and comments from the other employees. Although, it is only feasible when there is a high degree of interaction between the employees and in the smaller departments where everyone knows each another.
Lastly, time management method is an effective way of determining productivity. If measured accurately, this technique will divulge the amount of time the employee spends for accomplishing the work-related duties compared to non-productive issues such as excessive time off, different conversations, and other diversions.
To conclude, the human resources department may define the value of retaining an aging workforce according to their positive and negative traits at work. Mature workers have several advantages. Firstly, they are more reliable, trustworthy, honest and more dedicated to their job. They are also more productive than the younger generations when the age is not an aspect of the fundamental duties. However, the belief that older employees might be more inflexible and inefficient in the jobs that require high energy continues to persist. The information that organizations may gather includes performance quality and performance quantity, 360-degree feedback, and time management method.

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