Older Employees Can Give Vital Boost to Small Businesses

Posted In: Career Resources, Employer Resources, Employment News · By: Seniors for Jobs.com · Date: 26 Dec 2007

Small businesses caught in the labor crunch might want to consider heading down to the local seniors community center to recruit employees.

That’s the word from the Canadian Federation of Independent Business (CFIB) which maintains that small business and older workers form a valuable partnership across Western Canada that will only get stronger in the coming years.

Older workers bring an incredible amount of experience to the table. They have a strong work ethic. They’re loyal and are great mentors to other workers. They also have good customer service skills.

A new study by the CFIB suggested almost half of small businesses in British Columbia – 49 per cent – employ at least one worker over the age of 60, the highest percentage in Western Canada. Alberta and Manitoba businesses were close behind at 47 per cent and Saskatchewan had 45 per cent.

Many businesses are creating work environments that attract older workers by offering more flexible hours, job-sharing options, more unpaid time off for such things as volunteering, and reduced physical demands.

There are a record number of business owners reporting labor shortages. Business owners are looking beyond their traditional pools of labor and hiring older workers will only grow in interest.

According to the study, one in every seven Canadians is over 65 years old, a 12 per cent increase since 2001. As well, the number of people between the ages of 55 and 64 increased 28 per cent since 2001, while the population aged 15 to 24 went up by just 5 per cent. This trend is expected to continue leading to more labor scarcity. On average, businesses in Western Canada expect 13 per cent of their staff to retire in the next five years.

The study also noted that 38 per cent of older workers returned to work for financial considerations, but that 22 per cent did so because they just didn’t like retirement. Most small firms, 88 per cent, have not yet taken steps to specifically target older workers when hiring.