Senior Workforce Shows Flexibility - over 20% of the older demographic are willing to venture into fresh employment opportunities
In a recent development, Petra von Strombeck, CEO of New Work SE, has emphasised the importance of giving older workers the attention they deserve. Strombeck concludes that many older workers are highly qualified, engaged, and loyal, and it's time for their employers to recognise and support this valuable workforce.
The assertion is based on an analysis of two Forsa studies on job change readiness and job satisfaction among different generations, conducted by Xing, a subsidiary of New Work SE. However, it's important to note that Xing's analysis does not provide any specific data on the job change readiness of the 50+ age group or any findings about job satisfaction among different generations.
The Xing study, which focuses on job change readiness among different generations, reveals that the 50+ age group, consisting of approximately 12.2 million employed individuals, is the second-largest age group in the workforce. One in five (19%) of the 50+ generation is open to a new job.
Interestingly, money is not the primary motivator for this age group when selecting a potential employer. While 58% of those over 50 consider money as an incentive, a meaningful job (64%) and a company's sustainable practices (26%) are more important to them.
The study also reveals that a low salary (45%) and high stress levels (37%) are the main reasons for job changes among the 50+ generation. Companies that are attractive employers for the older generation highlight their meaningful work opportunities and sustainability practices by emphasising flexible work models, such as partial retirement and home office, valuing the experience of older employees, and aligning with values like social responsibility and environmental sustainability to retain and motivate senior workers.
While 67% of the 50+ generation finds the four-day workweek attractive, home office (41%), remote work (36%), and workation (14%) are less popular. This suggests that older workers value structure and stability in their work environment.
It's crucial for companies to retain their experienced and longest-serving employees, according to Strombeck. She believes that it's disastrous for companies to lose these valuable assets. The Xing study provides valuable insights into the job change readiness of different generations, but it's worth noting that Xing has not conducted a study on job satisfaction among different generations, as stated initially, or a study on job change readiness and job satisfaction among Generation Z.
In a separate development, Xing has conducted a happiness study, but it's not specified whether it's the one mentioned in the "Xing Happiness Study: Employees Are Optimistic" article. Xing has also not released a ranking of top jobs for 2022 and their salaries, as stated in the "Xing Ranking: Top Jobs 2022 and Their Salaries" article.
In conclusion, the Xing study provides valuable insights into the job change readiness of the 50+ age group and the factors that influence their decisions when considering a new job. Employers would do well to take note of these findings and create an environment that values and supports their older workers.
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