West has started hiring older workers – Time is Ripe for Indian companies to emulate
Given the increased lifetimes due to better conditions, today in US we are reaching a situation where the population of people 60 or more is higher than the population of kids aged 5 or less. Increasing vacancies are being created by the retirement of the baby boomers and this has created a situation that is ripe for the companies to start rehiring people 60 or older.
Companies are inviting older employees to come back and rejoin and calling this “Returnships”.
I feel inIndia though we are still enjoying the population dividend time for us to open our minds and explore how to use this vast talent of knowledge – possibly more as advisors and consultants which is also a trend in specialised skill sets like Power, oil and gas industry amongst others
Bharti Sinha
While this trend is spreading across the North Americas and Western Europe in particular, India and other developing nations are facing unique problems – India, because of its large and young pool of eligible workforce, and many others in LATAM, ANZ and other declining economies, the opportunities may well be low. What is required is for the senior professionals to relook at their profiles and make it easy for companies to retain them and not replace them with you get people. Some, though not all, are normalisation of their compensations, upgradation of their skills, ability to reinvent their work style and become more hands on and up their energy levels. If they focus on these, then age may well be viewed preferably. Still the watchword is that the profiles of the seniors should be relevant on all fronts!