Workplace: MAWs more loyal

Ask Kate Column: Some research from the market on the benefits of employing older people. A survey by recruitment company Hays of 3,500 people nationwide revealed that “mature-age” workers stay in their job for four years or more - a higher retention rate than younger workers.

Before we go further, the Australian Bureau Statistics defines a “mature-age” worker as someone aged 45-64.

Of the MAW respondents, 28 per cent said they remained under two years; 22 per cent between two and four years and 50 per cent stayed over four years. In comparison, 41 per cent of the remainder of the workforce stayed in their last role under 2 years, 25 percent remained two to four years and 34 per cent remained over four years.

To me, this says it is worth investing in new training for MAWs who I suspect often get overlooked when it comes to upskilling opportunities. While age prejudice has shifted a bit there is still plenty around.

 I just saw a report in the Media section of <i>The Australian</i> about how advertisers continue to snub this important group despite their spending power. I’ve also just seen a new report from California about the “Jones Generation” – those between Gen X and Boomers who were born between 1954 and 1965.

Apparently they have become much sort after by Fortune 500 companies in the US. May we see the same thing here. As Director of Hays Grahame Doyle says: “There are many advantages to recruiting mature-age workers, and this survey highlights another – their expected tenure. Not only do these candidates bring skills and experience gained over many years to a workplace, they will also remain with an organisation longer, and in doing so they help reduce overall recruitment costs and increase a company’s retention rate.”