There are several reasons why the silver economy is important for Polish businesses. First of all, the over 50s represent a large and growing workforce. According to the study “Ageism in Poland” conducted by the Polish Economic Institute, by 2050 the number of people aged 50+ will constitute almost 40 percent of the population. This means that there will be more potential applicants in this age group. Let us explore further why employing age 50+ candidates are shaping up to be the next big thing.
Employing age 50+ candidates has many advantages. In the first instance, companies can benefit from their extensive experience and knowledge. Moreover, mature candidates have more time on their hands and often demonstrate greater commitment than their younger counterparts.
What is the silver economy?
In Poland, demographics point to the fact that the number of people of working age is decreasing; and this trend is set to continue. In the coming years, this decline will have a significant impact on the Polish economy, including the Polish labour market. Given that currently the demand for specialists exceeds the number of people available, one way of tackling the talent shortage is to draw from the silver economy.
The silver economy is a term used to describe the economic activity of the over 50s, and covers both paid and unpaid work. Involvement in the recruitment process of age 50+ candidates will make it easier for employers to fill available vacancies and, above all, to find experienced and skilled employees.
Tapping into the potential of the silver economy
Population ageing is a reality in Poland and many other countries around the world. One permanent change that we have observed in the labour market is the acceleration of digitization and automation processes, and as a result, employers are struggling with a record shortage of talent, and the candidate-employer mismatch is growing. However, these same challenges are also paving the way for new opportunities.
There are many reasons why employing age 50+ candidates can be beneficial for businesses. The first is their extensive experience and skills. Secondly, age 50+ experts are usually more loyal to the company, and less willing to change jobs. Finally, they require less training than younger workers. Even in the absence of a digital skill-set, employers can introduce programs aimed at both reskilling and upskilling.
Recruitment without prejudice – employing age 50+ candidates
Given the current talent shortage, employing age 50+ candidates represents a great opportunity for companies to find a highly qualified and loyal workforce. So what should inclusive, bias-free recruitment of the silver economy look like?
The first step that needs to be taken in order to effectively combat prejudice in the recruitment process is to promote the idea and importance of diversity. HR must introduce activities that establish good working practices, ones that encourage colleagues to achieve established goals. And in this case, it is about providing professional training related to diversity and the tackling of concealed prejudices for all those involved in the recruitment process.
Inclusive recruitment means reaching out to candidates and publishing offers focused on the position, job requirements and the practical skills involved. Therefore, it is worth ensuring when creating a job offer, or during the initial verification of candidates, that the recruiters through their attitudes and actions adopt a positive approach to diversity.
If you are looking to hire age 50+ candidates, you can avail of our services that will help you find candidates based on their “can do” competences, and not their age, ethnicity or gender. At Devire, we connect companies with the greatest talents on the labour market. We will find your ideal candidate.