The 8 Reasons for their Incredible Productivity…
Yes, HR and management can help to end the hidden Ageism Pandemic. The Pandemic causing huge damage, and more so now with COVID-19 and the collapsing global economy. Australia and business cannot afford for the damage to continue and for so many of the Mature to be excluded from the workforce.
Back in 2012, Deloitte Economics estimated that just an increase of 5% in paid employment of Australians over 55 would deliver $48 billion to the national economy, every year.
What does Ageism cost us today? At least double that when we factor in a few things…
Inflation; that we now know the average time spent unemployed starts to rise at age 40; and of course the Boomer Demographic Bulge is now all over 55 – there are just so many of us suffering..
The Ageism Solution? It’s in the Talent Vault!
We are creating a giant pool of over 45s and giving employers low cost access to them using Artificial Intelligence. Its name is The Talent Vault.
The many thousands joining this Pool are exceptionally talented. Here are the 8 reasons why…
1. The biggest reason is a direct result of our ‘Age Discrimination Pandemic’ – counter intuitive I know!
It’s because in any large Pool of people some are very talented. And have the exact experience you need.Then, when this Pool suffers discrimination year after year, even the best struggle to find a good job or any job at all. Also, a huge number end up ‘driving Ubers’. So there are many highly talented people over 45 available.
So how big is this Pool of Australians aged over 45? Those who will suffer age discrimination at least at some point? Over 5 million. The best of them are entering The Talent Vault created by our company, Stable and Wise.
2. The Vault contains the highly valuable ‘Passive Candidate’
‘Passive’ is a recruitment industry term meaning they are employed and not actively seeking a new role. So they rarely browse job boards and don’t see ads.
Why are they so valuable?
They will have exactly what you are looking for – whereas with advertisements, all sorts of ‘weird and wonderfuls’ apply. The problem today? Employers cannot source the Passives, so they must pay thousands in agency fees to get them.
How does Stable and Wise deliver you ‘The Passives’ at 4% of Agency fees?
The Vault contains many Passives. Because registering doesn’t mean they’re actively seeking a job, just that they’re happy to explore. But the next reason raises the value of the Passives in The Vault up a notch…
3. You know the type of job they really want
The type of employment that will keep them happily employed for years – Stable and Wise asks for their first and second preference when they register for The Vault. For example, these Passives are not just taking the casual and low paid job that was advertised, because they couldn’t get anything else. Or taking a full time job when they really want permanent part time to give themselves a better work life balance.
4. The ‘Over 45s Job Readiness Toolkit’ gets them prepared and upskilled
It helps them define their ideal job, and sharpens their job seeking skills. They won’t waste your time or theirs chasing jobs that are just wrong and they are unlikely to stay in.
The Toolkit has 7 Sections, each covering a vital part of the job seeking process from Powerful Resumes to the (very!) challenging task of getting value out of recruitment agents. The first Sections are available here, with more being added each week… https://www.stableandwise.com/
5. The Mature are more Productive than Millennials
Again, a big claim! But it is due to one key difference – they stay in jobs way, way longer.
The Australian Human Resources Institute research in 2018 showed that Millennials have by far the highest job turnover, in excess of 50%. Over 5 times that of the over 50s.
Turnover costs big bucks – the cost ranges from 4 to 18 months of the leaver’s salary, depending on the job. The bulk of jobs will cost in the range of 6 to 8 months salary. So even if you believe the 4 ridiculous Myths about the Mature (dumb, but widely believed see here)
, the average Millennial needs to be a superhero to claw back those huge replacement costs.
6. Mature Age Internships
Companies can’t and won’t advertise a job that says ‘you will start as an intern’. Not great for their image and they will get many applicants that will be a complete waste of time. Members of The Vault will have said they are willing to do an ‘expenses only internship’ for the right job and the right employer.
They know they can do the job, but will invest their time to prove it to you. And that they really want your job. Nowhere else will you find highly skilled people prepared to do this. There is simply no way to find them except from The Vault.
‘The Intern’ with Robert De Niro was a funny and very popular movie. It had the huge benefit of opening many peoples’ eyes to the potential of a well chosen older intern.
7. Training Courses before joining you
Again it demonstrates they really want your job and are prepared to invest their time to satisfy any concerns you may have about their skills. Particularly IT skills – most are keen to refine these and prove that they have them.
8. They Try Harder
Like all groups suffering discrimination, once hired they have to keep proving themselves. As women have had to do for the last 60 years. And the disabled. And all the others who suffer from the ignorance of discrimination.
Add all the 8 together?