Boomer employees provide greater ROI to employers than young employees

Boomer employees provide greater ROI to employers than young employees

Thursday, May 14, 2015

In Sarasota County 29% of the workforce is between 45-64 and according to a new study released by AARP in a Society for Human Resource Management article, this population of employee is more engaged and produces more income for their employers. The study, released in April 2015, found workers ages 50 or older are 7% more engaged than younger workers and they only increase a company’s total annual labor costs by 1% or less. This contradicts the common thought that older employers are significantly more costly to hire and retain. “Although the generational differences in engagement might not seem large, it takes only a 5% increase in engagement to achieve three percent incremental revenue growth,” states AARP. “That translates into a large company with $5 billion in revenue achieving a $150 million revenue increase as a result of even a five percent engagement improvement.”

To learn more about our region’s economy and workforce, go here on Gulf Coast Community Indicators.