Myth #1: You can't teach an old dog
new tricks.
Reality: Studies show only negligible loss of cognitive
function of people under 70. While older workers take longer to absorb
completely new material, their better study attitudes and accumulated experience
lower training costs. The fastest growing group of Internet users is people over
50.
Myth #2: Training older
workers is lost investment because they will not stay on the job for
long.
Reality: The future work life of an employee over 50 usually
exceeds the life of new technology for which the workers are
trained.
Myth #3: Older
workers are not as productive as younger workers.
Reality: Overall
productivity does not decline as a function of age. Productivity can actually
rise to greater worker accuracy, dependability and capacity to make better on
the spot judgments. Older worker's production rates are steadier than other age
groups.
Myth #4:Older workers
are less flexible and adaptable.
Reality: Older workers are just as
adaptable once they understand the reason for changes. They are more likely to
ask, why, because they have often seen past changes in processes and procedures
abandoned in mid-stream when they didn't bring expected rewards quickly
enough.
Myth #5:Older workers
are not as creative or innovative.
Reality: General intelligence
levels are the same as younger workers. Eighty percent of the most workable and
worthwhile new production ideas are generated by employees over 40 years
old.
Myth #6: Older workers
cost more than hiring younger workers.
Reality: While workers with
tenure are entitled to more vacation time and pension costs related to number of
years worked, replacing workers is not cost free. Aetna Insurance Company did a
study of this issue and discovered those factors added 93% to the first year's
salary of new employees.
Myth
#7:Benefit and accident costs are higher for older workers.
Reality:
Total sick days per year of older workers is lower than other age groups because
they have fewer acute illness and sporadic sick days. While individual older
worker' health, disability, and life insurance costs do rise slowly with age,
they are offset by lower costs due to fewer dependents. Overall, fringe benefits
costs stay the same as a percentage of salary for all age groups. Older workers
take fewer risks in accident-prone situations and statistically have lower
accident rates than other age groups.
Dr Richard P Johnson is the founder of Retirement Options, Inc., an organisation which is dedicated to helping people lead enriched lives in their retirement years through pre-retirement assessment and planning. Over 30,000 individuals have taken the Retirement Success Profile(RSP)© and LifeOptions Profile© as well as experienced the Retirement Options© program over the past 16 years. You can find out more about the product and program online at Retirement Options
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