Older staff: age shall not weary, but now is the time to learn from them

EMPLOYERS can use older team members to train younger workers so the knowledge acquired from decades of work can be handed on.

THE federal government says the number of Australians aged 65 and over is expected to increase rapidly to 6.2 million, or one quarter of the population, by 2042.

This threatens to curb economic growth in years ahead, so encouraging older employees to continue working is no longer optional but key to maintaining the country’s economic vitality.

This may seem like a gloomy subject but there is potentially a silver lining to this social and demographic change. The swelling ranks of mature workers are a valuable resource for businesses as they can teach the rest of us a thing or two about the world of work. And if younger employees are willing to listen to their insights, their careers will benefit.

A proportionately high number of mature workers are found in sectors such as manufacturing, transport, healthcare and education, and the economy will face significant skills shortages when they retire. These sectors benefit significantly from the depth of experience and knowledge this older workforce brings to their jobs.

Employers can do more to use older team members to train up younger employees so the knowledge and wisdom acquired from decades of work can be handed on to the new generation. This will allow organisations to maintain know-how and stay competitive.

There is a significant opportunity for employers to exploit the talents of more senior members of staff. This is especially true for small and medium-sized businesses that may have limited resources to dedicate to formal skills development. By using older staff to give in-house training to their younger peers, knowledge can be successfully passed on.

For companies to not use this potential training resource is a waste. So how should employers ensure their staff benefit from the wisdom of older colleagues?

Encouraging staff to find a mentor is a good first step. Younger employees can learn a lot from mature workers who have already achieved the career goals they aspire to.

Employers should help staff find a mature mentor, in their organisation or within their industry or field of experience, and let them tap into the veteran’s knowledge when making career development decisions.

Help employees try to upskill. Older workers often enjoy imparting the benefit of their years of experience to a protege. Many are only too happy to teach their expertise in a particular system, skill or task to employees who would like to add to their repertoire, so allow employees to ask if they can be coached.

Thirdly, we can all benefit from the lessons mature workers have learned. Those who have been with an organisation for a number of years possess a great deal of corporate insight.

Experience acquired through lessons the business has learnt can be shared with younger employees so they can be more aware of the potential pitfalls.

We should also be aware of any skills gaps. Many employers in Australia tell us that skill shortages remain an issue and this is likely to limit the country’s future potential, especially when a large percentage of the workforce will retire in coming years.

This gap can be bridged if employees work with a mature member of staff to learn the technical knowledge their industry cannot do without.

By doing this a company can set itself up to plug the skills gap and in turn make the mature Australian employee a valuable asset.

Lynne Roeder is the regional director of Hays Accountancy & Finance