Construction Accounting Article -
Older Employees Shatter Industry Hiring Myth
Target Audience: Construction Industry Professionals, General Contractors, Subcontractors, Veteran Employees, Construction Management
Although few would admit it, there’s a persistent myth in the construction industry that older employees make bad employees in the field. Yet the labor shortage we’ve all come to know and loathe isn’t going anywhere. And anyone holding on to stereotypes is passing up a rich pool of smart and dedicated workers.
AN EXPERIENCED BUNCH
Perhaps the most obvious advantage older employees have over their younger counterparts is experience. Seasoned builders know the ropes. They often can obtain permits and coordinate utilities for job sites with less training and oversight than a person with a shorter work history.
Moreover, they may be less likely to assume deliveries will arrive on time and they may be less apt to trust subcon-tractors with substandard job records. Older workers typi-cally have the confidence to make tough decisions and can often be more creative in solving difficult problems. Why? Again, because they’ve learned from experience.
When it comes to completing management projects, employees with years of experience have many potential advantages. They tend to be well organized, task- and results-oriented, and committed to completing assign-ments on time. What’s more, many veteran workers have developed a network of business contacts that takes years to build — and that can be a huge asset to your construction company.
Finally, the rest of your staff can benefit from their expe-rience. Older professionals usually get great satisfaction from helping to mentor and train younger team members by sharing their experiences, making introductions to industry associates or simply being good role models.
PLENTY HEALTHY
Another big myth regarding over-50 employees is that they take more sick time than younger workers. But today’s older workers are healthier than any previous generation. In fact, differences in health insurance costs between younger and older workers are so minimal that they shouldn’t affect employment decisions, says AARP (formerly the American Association of Retired Persons).
Furthermore, employees in the 55-to-64-year-old cate-gory are the least likely to suffer work-related accidents, according to the Bureau of Labor Statistics. Of a total 144,050 construction injuries in 2004, only 75 (well under 1%) were older workers, while those in the 25-to-34-year-old group made up 30%.
Finally, the costs of vacation time and pensions of over-50 employees are often outweighed by their low turnover and, in turn, fewer recruiting, hiring and training expenses for you.
MUCH-NEEDED HELP
By 2008, the construction industry will need 196,000 workers to fill skilled jobs, reports the Bureau of Labor Statistics. And the number of people aged 55 and older will increase by 73% by 2020, while the number of younger employees will grow by only 5%, says the U.S. Census Bureau.
As you can see, these statistics and, quite frankly, common sense defy stereotypes. Over-50 workers bring invaluable attributes to the job — experience, loyalty, hard work and leadership — that can be tough to find elsewhere.
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