Older Workers: The New Secret Weapon?

2 min read

I keep reading about “Quiet Quitting” and the issues many of my insurance clients are now having with workers in that 25 – 35-year-old range.

They include:

• They have issues with punctuality
• Spending too much work time on social media
• Job hopping
• A bit flaky
• Distracted
• Want to be coddled
• Lacking work ethic

Okay, I get it. This is a sweeping generalization and indictment on the younger worker – not necessarily one that I agree with. Heck, my three sons are in this age grouping and they have all carved out nice careers for themselves.

What does this mean for Older Workers?

One thing for certain is that many of my clients are now seeking this “older worker” because they tend to be more – well…mature!

One client told me last week, “I’m more likely to hire a card-carrying AARP worker than a college graduate these days.”

She tells me the “older generation” takes a bit longer to catch on, but once they do…they work. Really Hard. Without complaint. I guess it’s a generational thing?

They say, Older people are of the mindset, “We’re in this together” while the younger generation (younger than 35) mostly believe, “What’s in it for me?”

55+ aged-workers are the Fastest Growing Segment

Another factor is that people over 55 years old are the fastest growing segment of the workforce, according to federal data. People are living longer and having fewer children. Makes sense.

Older employees stay longer than their younger counterparts. Studies have shown that the average worker stays in a job now for 3.2 years. Workers over 55 will stay much longer for sure. They crave job security.

Manpower, Inc., one of the world’s largest staffing agencies, launched a placement program in 2021 specifically targeting “mature” workers. It’s working well according to the WSJ in an article published, Thursday, April 6, 2023, titled, Older Workers are in Demand When Bosses Want Work Ethic.

Insurance Industry Ramifications?

With regard to the insurance industry, we NEED MORE young people. We need fresh blood into the talent pool because the pool is already really, really small.

My take: The older worker most definitely has a role, particularly, in the account management, service, and support areas where continuity and experience are very important, but the lifeblood of the insurance industry will remain the younger worker.

Maybe we just try harder to meet their unique needs. As business owners, that’s on us, right?

Rob