Freedom Fatigue: How Can Companies Retain Their 50+ Workforce?

Posted on Wednesday, May 29, 2024 by Gary ClarkNo comments

Supporting your workforce includes managing the happiness and satisfaction of all ages, including those who have been on staff the longest. But with the current “silver drain,” there is concern that the older workforce will no longer find the same enjoyment in work as they once did. In fact, the unemployment rate for people aged 50 to 64 has increased in the last year.

As the workforce ages, with the retirement age now reaching 71, knowing how to successfully retain aging staff members is imperative.

Gary Clark, academy director at ski course company: SIA Austria, says: "Working is now becoming a better work-life balance and companies that don't recognize this risk losing members. of experienced staff who could achieve better results in their own work. That is why it is necessary to find ways to offer some excitement and a break from the mundane corporate work, not only for younger staff, but also for the aging workforce. ”.

 

sabbaticals

One way to treat your workforce and have them come back feeling refreshed for their position is by offering them time off. It may seem counterintuitive, but spending time away from your desk can give you a little more motivation and productivity when it comes to work.

Older workers have earned time off, so offering sabbaticals can be a great way to encourage older staff members to enjoy themselves outside of work. Whether they are taking a ski course in Japan or traveling by plane to a more relaxing destination, giving them the opportunity and time to spend outside of work is a must.

Gary says: “Enjoying something new that you wouldn't have considered before can take you away from your desk and the worries of work so you're in a better place to get back to it. You don't want your staff to quit in order to travel, which would mean losing all their experience; Instead, offer them as much time as they want as part of a long-term worker package so they can get the best of both worlds.”

Independent work

Gary continues: “Or if you are looking for a more flexible arrangement, then freelancing could be the best option for both employees and employers. “You don’t want to risk losing their valuable knowledge and perspectives in your business, so giving them the ability to work independently or remotely could be an option if they are looking to advance both professionally and personally.”

Fatigue at work can be due to lack of freedom. Whether it's spending time away from the desk, living in a new place, or seeing new faces daily, the corporate 9-to-5 schedule can become too much after decades of working in the same role. Allowing your staff the freedom to explore their personal choices and take the work with them can help you retain your experienced staff without limiting them.

Development

Autonomy is important for both older and younger workers. You don't want to offer all your professional development opportunities to the younger members of your staff and ignore the wants and needs of your older professionals. Enabling your aging workforce to make their development plans and put them into practice is essential to a healthy work culture.

Gary says: “Autonomy and development don't always have to coincide with traditional workplace training sessions. In fact, your workforce could benefit more from stepping out of their comfort zone from time to time and developing transferable skills. By giving your employees of all ages the autonomy to learn and develop in their own way, you can retain a happier workforce.”

The increasing number of aging workforce members quitting can be worrying for businesses who will lose the experience, knowledge and insight of their accumulated years. However, there are many ways your company can avoid losing these valuable team members. Increasing autonomy, development opportunities and even offering more flexible structures can ensure your workforce is in the position they want to be, no matter their age.
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