Government Urges Businesses To Tap Baby Boomers
The Federal Government has released a report, urging companies to employ more baby boomers.
The Economic Potential of Senior Australians presents the advantages of employing more mature-aged Australians. Panel chair Everald Compton, said that the country would greatly benefit from the wisdom, talents, and experience of baby boomers.
The Federal Government is set to offer $1,000 to 10,000 business owners in exchange of hiring employees aged 50 years and older. The companies should employ mature-aged Australians for at least three months.
The scheme is scheduled to start July 1, 2012 and would be implemented in the next four years.
Treasure Wayne Swan said it’s time to give more opportunities to baby boomers. Swan added that it’s important they are given the chance to secure their finances and, in the process, their families.
Baby boomers have been feeling the pinch in the last 10 years. Job demands for them have declined sharply especially in the last three years.
Studies have also shown that when a baby boomer is retrenched, it becomes a lot harder to find another job. The situation is further aggravated when the baby boomer is an unskilled worker.
Data from the Organisation for Economic Co-operation and Development revealed that the mature-age participation rate is the biggest recorded in the country. The rate exceeds the media for all age brackets.
The report also praised the work ethics of older workers, saying that they post lower rates of absenteeism and possess high retention rates. Better access to health also allows them to live healthier and longer.