Forum for Science, Industry and Business

Sponsored by:     3M 
Search our Site:

 

Older Workers Can Weather Economic Downturn

26.05.2008
As the spring crop of college graduates enters the workforce, seasoned workers can do several things to ratchet to up their value in the job market, says a professor at Texas A&M University who teaches and conducts research in the area of human resource management.

As the spring crop of college graduates enters the workforce, seasoned workers can do several things to ratchet to up their value in the job market, says a professor at Texas A&M University who teaches and conducts research in the area of human resource management.

“On the whole, there is still a good demand for people who want to work,” says Ryan Zimmerman, whose research has been widely published in such publications as Journal of Applied Psychology, Personnel Psychology, Human Resource Management and the International Journal of Selection and Assessment.

“The key is to not let yourself stagnate. Keep your skills up-to-date and network – whatever you can do to remain marketable – and above all, remain flexible. I think it’s good when a person in a position for a long time decides to learn something new. It’s good for the employee and it’s good for the organization.”

Such freshening gives workers more options, such as promotion within an existing organization or moving into a higher-paying job elsewhere, he says.

Additional jobs are opening up as the baby boomers retire, Zimmerman says, and many employers prefer replacement workers who have some experience. The pool of older employees is growing faster than the younger workers, as the Bureau of Labor Statistics estimates between 1998 and 2015 the population of people 55 and older will grow by 5.2 percent, while the population of people 16-54 will only grow by 1.6 percent. The number of those 65 and older is expected to grow by 3.2 percent between 2015 and 2025, while the 16-64 age bracket will only grow by .8 percent.

Many individuals reaching retirement age plan to stay in the workforce, as indicated in an AARP report that states about 80 percent of baby boomers plan on working past retirement age.

Many companies value the older workers so much, they are building in programs and bonuses to retain retirement-age workers through their 60s and even 70s, Zimmerman says.

“These people represent a lot of institutional knowledge and experience that the company can’t get elsewhere, and companies are finding it difficult to capture that knowledge," he says. “I don’t think the negative is in being older, it’s in being out of date with your skills – and that is fairly easy to solve.

Familiarity with computer programs and advanced training are two areas that are fairly easy to attain through professional organizations or community programs.

“A lot of companies offer tuition reimbursement so not only are they paying for your education, a lot of times they’re giving you time off work to go do it,” Zimmerman says. “If you don’t, you’re missing out on a great opportunity.”

Zimmerman also recommends that workers of any age make an effort to network, both with others in their own field and people outside their immediate circle.

Fear of change is a big constraint for older workers, but Zimmerman says change can be invigorating. He recommends that older workers take an interest inventory to see what other job avenues exist. “That way you can kind of shop around for what else you’d like to do in case you do go through a down-sizing or lay-off,” he says. “A little time spent on self-examination can turn into a whole new career, with a whole new set of rewards.”

Kelli Levey | newswise
Further information:
http://www.tamu.edu

More articles from Business and Finance:

nachricht Europe's microtechnology industry is attuned to growth
10.03.2017 | IVAM Fachverband für Mikrotechnik

nachricht Preferential trade agreements enhance global trade at the expense of its resilience
17.02.2017 | International Institute for Applied Systems Analysis (IIASA)

All articles from Business and Finance >>>

The most recent press releases about innovation >>>

Die letzten 5 Focus-News des innovations-reports im Überblick:

Im Focus: A Challenging European Research Project to Develop New Tiny Microscopes

The Institute of Semiconductor Technology and the Institute of Physical and Theoretical Chemistry, both members of the Laboratory for Emerging Nanometrology (LENA), at Technische Universität Braunschweig are partners in a new European research project entitled ChipScope, which aims to develop a completely new and extremely small optical microscope capable of observing the interior of living cells in real time. A consortium of 7 partners from 5 countries will tackle this issue with very ambitious objectives during a four-year research program.

To demonstrate the usefulness of this new scientific tool, at the end of the project the developed chip-sized microscope will be used to observe in real-time...

Im Focus: Giant Magnetic Fields in the Universe

Astronomers from Bonn and Tautenburg in Thuringia (Germany) used the 100-m radio telescope at Effelsberg to observe several galaxy clusters. At the edges of these large accumulations of dark matter, stellar systems (galaxies), hot gas, and charged particles, they found magnetic fields that are exceptionally ordered over distances of many million light years. This makes them the most extended magnetic fields in the universe known so far.

The results will be published on March 22 in the journal „Astronomy & Astrophysics“.

Galaxy clusters are the largest gravitationally bound structures in the universe. With a typical extent of about 10 million light years, i.e. 100 times the...

Im Focus: Tracing down linear ubiquitination

Researchers at the Goethe University Frankfurt, together with partners from the University of Tübingen in Germany and Queen Mary University as well as Francis Crick Institute from London (UK) have developed a novel technology to decipher the secret ubiquitin code.

Ubiquitin is a small protein that can be linked to other cellular proteins, thereby controlling and modulating their functions. The attachment occurs in many...

Im Focus: Perovskite edges can be tuned for optoelectronic performance

Layered 2D material improves efficiency for solar cells and LEDs

In the eternal search for next generation high-efficiency solar cells and LEDs, scientists at Los Alamos National Laboratory and their partners are creating...

Im Focus: Polymer-coated silicon nanosheets as alternative to graphene: A perfect team for nanoelectronics

Silicon nanosheets are thin, two-dimensional layers with exceptional optoelectronic properties very similar to those of graphene. Albeit, the nanosheets are less stable. Now researchers at the Technical University of Munich (TUM) have, for the first time ever, produced a composite material combining silicon nanosheets and a polymer that is both UV-resistant and easy to process. This brings the scientists a significant step closer to industrial applications like flexible displays and photosensors.

Silicon nanosheets are thin, two-dimensional layers with exceptional optoelectronic properties very similar to those of graphene. Albeit, the nanosheets are...

All Focus news of the innovation-report >>>

Anzeige

Anzeige

Event News

International Land Use Symposium ILUS 2017: Call for Abstracts and Registration open

20.03.2017 | Event News

CONNECT 2017: International congress on connective tissue

14.03.2017 | Event News

ICTM Conference: Turbine Construction between Big Data and Additive Manufacturing

07.03.2017 | Event News

 
Latest News

Transport of molecular motors into cilia

28.03.2017 | Life Sciences

A novel hybrid UAV that may change the way people operate drones

28.03.2017 | Information Technology

NASA spacecraft investigate clues in radiation belts

28.03.2017 | Physics and Astronomy

VideoLinks
B2B-VideoLinks
More VideoLinks >>>