Experience pays off: The business case for hiring mature-aged workers

In today’s dynamic workforce, there is often a focus on younger employees and the benefits they bring. However, mature-aged workers, typically defined as those aged 50 and over, offer a wealth of experience, reliability, and skills that are crucial to the success of any business. More and more Australian employers are recognising that hiring mature-aged employees is not only a socially responsible decision, but it also makes solid business sense.

Let’s explore why mature-aged workers are valuable to your organisation and how you can benefit from government financial incentives, such as wage subsidies, for employing older Australians.

1. A wealth of experience and knowledge

Mature-aged workers bring years, and often decades, of professional experience across various industries and job roles. Their deep understanding of workplace dynamics, challenges, and problem-solving skills can provide your business with unique perspectives. These employees are often well-versed in their fields, making them highly adaptable to a range of tasks and roles.

2. Strong work ethic and reliability

Mature-aged employees are known for their strong work ethic and dedication. Many have spent their careers developing a sense of responsibility, loyalty, and commitment to their jobs. These traits make them reliable employees who can be trusted to meet deadlines, handle challenges, and maintain a steady workflow. Mature workers are often more punctual, less likely to take unplanned leave, and are committed to staying with a company for longer periods. This can reduce turnover costs and boost overall productivity.

3. Enhanced interpersonal and leadership skills

Mature-aged workers have spent many years honing their interpersonal skills, making them excellent communicators and collaborators. They are often able to resolve conflicts, lead teams, and navigate complex social dynamics within the workplace. Their leadership qualities can enhance team performance and contribute to a positive company culture.

4. Access to government financial incentives

In Australia, there are a variety of government initiatives aimed at encouraging businesses to hire mature-aged workers. One of the most significant incentives is wage subsidies. These subsidies provide financial assistance to employers who hire eligible mature workers, making it a cost-effective way to bring experienced talent into your organisation.

For more information on wage subsidies for hiring mature-aged workers, visit the Wage Subsidies page provided by the Department of Employment and Workplace Relations or download the Mature Age Information for Employers Toolkit.

5. Commitment and less job-hopping

Mature workers are often looking for stability in their careers and are less likely to frequently change jobs. This is particularly valuable for employers who want to retain employees for longer periods. Studies show that older workers tend to remain loyal to their employers, reducing turnover and the associated costs of recruitment and training. Retaining employees for longer means fewer disruptions in operations, a reduction in hiring costs, and a more consistent, knowledgeable workforce. Mature workers are less likely to job-hop, giving employers the benefit of long-term investment in their staff.

6. Promoting a diverse and inclusive workforce

Employing mature-aged workers promotes diversity in the workplace. A multi-generational team allows for a wide range of viewpoints, skills, and experiences, leading to increased creativity and innovation. Diversity also improves customer service, as a workforce that reflects the diverse community can better understand and respond to customer needs.

7. Adaptability and willingness to learn

Contrary to common misconceptions, many mature workers are highly adaptable and eager to learn new skills. In fact, many older employees are keen to keep up with technological advances and changes in their industry, investing in continuous learning and development. Hiring older workers who are adaptable and willing to learn can provide your business with experienced employees who are open to embracing new tools and systems. Their willingness to acquire new skills can help keep your business competitive in an ever-changing market.

Hiring mature-aged workers is a win-win for employers. Rethink employment with CoAct.

Hiring mature-aged workers brings a range of benefits to your business, from their extensive experience and leadership skills to their reliability and commitment. Furthermore, the financial incentives available through wage subsidies make it more cost-effective to hire older Australians, adding even more value to your recruitment strategy.

Speak with CoAct today to learn more about how we can support your hiring needs. Together, we can help your business grow and thrive with the power of experience.