Companies are undergoing latent shortages and to overcome talent shortages employers are more willing to hire applicants older employees and seek employment changes, according to an employment outlook survey.
Sandeep Gulati, Managing Director, ManpowerGroup India, and Middle East, said, “The survey findings are clear indicators of a stable economy despite the geo-political and economic uncertainties being faced across the globe.”
“The government’s unwavering focus and initiatives to drive growth in key sectors, coupled with the onset of the festival season are expected to act as crucial reinforcements and boost hiring sentiments across the country”, Sandeep Gulati added.
“With the changing landscape of the world of work, organizations that are focused on investing in the professional development of their workforce and creating a positive work culture are better equipped to accelerate the transformation and build resilience to combat the market volatility,” Gulati further said.
Employers are also willing to hire people who have been unemployed due to caretaking responsibilities, have non-linear career paths, and have been unemployed for an extended period.
This is as per a ManpowerGroup Employment Outlook Survey which had over 3,000 participants.
Why do employers seek to hire older employees?
- The older employees in the companies improve longevity and retention as younger staff leave the organization for career growth. The employees with higher experience or the older workers tend to have more productivity than the fresher or lesser experienced workforce.
- The older workers are a valuable asset to the company and also save labor costs as they are fully trained employees. Moreover, the employees in a higher age bracket tend to have a wider range of skills than younger workers. The employees in a higher age bracket tend to have a wider range of skills than younger workers.
- Additionally, older workers are critical to training the next generation of business leaders.