Human resources are the only workplace assets that appreciate with time. People have always been, and will continue to be, the greatest investment a company can make. Often 50+ workers are overlooked in favor of their younger counterparts, but many smart organizations are rethinking the idea that younger is somehow better.
Experience still counts. Older workers who reenter or stay in the workforce bring a lifetime of work experience, knowledge, and acquired skills. These strengths will become even more valuable in the coming years as the expected growth of the labor force slows and employers need to rely more heavily on workers over 50. Bureau of Labor Statistics data from July 2008 show the total labor force is projected to increase by 8 ½ percent during 2006-2016, but when analyzed by age categories, very different trends emerge. The number of workers in the youngest age group, 16-24, is projected to decline and the number of workers 25-54 will rise only slightly. In sharp contrast, workers aged 55-64 are expected to climb 36%.
Employers Avoid Axing Oldies but Goodies