Older Employees Are More Engaged and Increase Revenue

The more engaged your employees are the greater your profits will be.

 ‘Digital natives’ is a term used in job ads that some lawyers say is code for ‘young worker’ suggesting that older people need not apply. Sadly these companies are missing out by narrowing their recruiting efforts against younger workers and excluding older workers.
In an article titled ‘Older Workers Are More Engaged, Boost Revenues’, author Dana Wilkie digs in to the study providing insightful facts about older employees that contradict the notion that older employees are more of a burden than a benefit to the workplace.

Misconceptions

1. Older workers cost companies more

Not true. The AARP study concluded that recruiting workers 50+ only increased a company’s total annual labor costs by 1 % or less.

2. Older workers aren’t interested in-nor are adept at-learning new things, such as technology.

Not true. The report found nearly 80% of older workers would be interested in learning new skills related to computers and communication technology. Older workers do not feel they have trouble keeping up with technology.

Employing older workers has other advantages too and include: experience, professionalism, work ethic, lower turnover, and knowledge.

As a company that is dedicated to employee engagement, what we found most fascinating about this study was that it proved that ‘Workers who are 50 or older are more engaged in their jobs than younger employee and are more likely to have a positive impact on profitability than previously thought’. And that generational difference in engagement doesn’t need to be large. The study found that 65% of workers are 55+ are engaged compared to 58%-60% of younger workers are. That 5% increase in engagement translates into 3% incremental revenue growth. In other words a large company with $5 billion in revenue will achieve a $150 million revenue increase as a result of even a 5% engagement improvement.

This is powerful evidence that proves the positive impact of employee engagement on profitability.

We know from our own research, that regardless of an employee’s age, employee engagement levels directly impact revenue. When people care about their organization they go above and beyond in all aspects of their work which is why the quest for employee engagement is something like the Holy Grail for many employers.

We have helped thousands of organizations increase and improve their employee engagement levels and we would love to help yours. To find out how our employee survey can measure engagement in your organization and provide you with the diagnostics to see what change is needed, give us a call at 866-802-8095 ext. 705 or send us an email at info@insightlink.com.

Original article here: