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 Microtechnology industry is hiring – positive developments of past years continue
09.04.2018 | IVAM Fachverband für Mikrotechnik

nachricht RWI/ISL-Container Throughput Index with minor decline on a high overall level
20.03.2018 | RWI – Leibniz-Institut für Wirtschaftsforschung

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: Spider silk key to new bone-fixing composite

University of Connecticut researchers have created a biodegradable composite made of silk fibers that can be used to repair broken load-bearing bones without the complications sometimes presented by other materials.

Repairing major load-bearing bones such as those in the leg can be a long and uncomfortable process.

Im Focus: Writing and deleting magnets with lasers

Study published in the journal ACS Applied Materials & Interfaces is the outcome of an international effort that included teams from Dresden and Berlin in Germany, and the US.

Scientists at the Helmholtz-Zentrum Dresden-Rossendorf (HZDR) together with colleagues from the Helmholtz-Zentrum Berlin (HZB) and the University of Virginia...

Im Focus: Gamma-ray flashes from plasma filaments

Novel highly efficient and brilliant gamma-ray source: Based on model calculations, physicists of the Max PIanck Institute for Nuclear Physics in Heidelberg propose a novel method for an efficient high-brilliance gamma-ray source. A giant collimated gamma-ray pulse is generated from the interaction of a dense ultra-relativistic electron beam with a thin solid conductor. Energetic gamma-rays are copiously produced as the electron beam splits into filaments while propagating across the conductor. The resulting gamma-ray energy and flux enable novel experiments in nuclear and fundamental physics.

The typical wavelength of light interacting with an object of the microcosm scales with the size of this object. For atoms, this ranges from visible light to...

Im Focus: Basel researchers succeed in cultivating cartilage from stem cells

Stable joint cartilage can be produced from adult stem cells originating from bone marrow. This is made possible by inducing specific molecular processes occurring during embryonic cartilage formation, as researchers from the University and University Hospital of Basel report in the scientific journal PNAS.

Certain mesenchymal stem/stromal cells from the bone marrow of adults are considered extremely promising for skeletal tissue regeneration. These adult stem...

Im Focus: Like a wedge in a hinge

Researchers lay groundwork to tailor drugs for new targets in cancer therapy

In the fight against cancer, scientists are developing new drugs to hit tumor cells at so far unused weak points. Such a “sore spot” is the protein complex...

All Focus news of the innovation-report >>>

Anzeige

Anzeige

VideoLinks
Industry & Economy
Event News

Invitation to the upcoming "Current Topics in Bioinformatics: Big Data in Genomics and Medicine"

13.04.2018 | Event News

Unique scope of UV LED technologies and applications presented in Berlin: ICULTA-2018

12.04.2018 | Event News

IWOLIA: A conference bringing together German Industrie 4.0 and French Industrie du Futur

09.04.2018 | Event News

 
Latest News

Scientists re-create brain neurons to study obesity and personalize treatment

20.04.2018 | Health and Medicine

Spider silk key to new bone-fixing composite

20.04.2018 | Materials Sciences

Clear as mud: Desiccation cracks help reveal the shape of water on Mars

20.04.2018 | Earth Sciences

VideoLinks
Science & Research
Overview of more VideoLinks >>>