Diversity and Inclusion: Recruiting and Retaining Older Workers
Tracks
Diversity and Inclusion: Recruiting and Retaining Older Workers By Elizabeth Moore, NATM Tracks Editor Each article in the Diversity and Inclusion series focuses on one aspect of diversity and gives definitions, examples, and on advice on how to implement programs and initiatives centered around that aspect. Most of the information presented in these articles was gathered from a diversity summit hosted by the Manufacturing Institute, the workforce development and education partner of the National Association of Manufacturers (NAM). This two-day summit covered what diversity and inclusion mean, challenges specific to the manufacturing industry, and how to implement diversity and inclusion initiatives at all levels in any size of company. This year NAM announced a pledge for action to help close the equity gap in the industry. By 2025, the goal is for manufacturers to have made 50,000 tangible actions to repair the unequal opportunities in the industry and create 300,000 pathways to job opportunities specifically for people of color and Black people. The final goal is to change the workforce by 2030. Tracks coverage of the summit has been broken into several articles. Previous articles have covered what exactly diversity and inclusion are referring to as well as aspects of diversity such as gender, specifically women in manufacturing, sexual orientation, and now age. For ease of access, all of the articles in this series will be uploaded to the NATM Resource Library. Why is age important? Although age may not be at the forefront of diversity and inclusion conversations and initiatives, it remains an important aspect to consider. Diversifying employee ages or capitalizing on an already diverse workforce can have great benefits for companies, including: •
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Stabilizing the amount of turnover
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Improving innovation and creativity
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Tapping into the longevity of the company
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Combatting the phenomena known as “brain drain”
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Promoting knowledge spillover
Currently, a third of the manufacturing workforce is 55+. By only focusing on younger workers, employers are missing out on all the benefits of hiring older workers and not opening themselves up to all the opportunities to combat the workforce shortage that is currently plaguing the manufacturing industry. One of the major benefits to hiring and retaining older workers is the effect they have on mitigating “brain drain.” Brain drain results in the loss of knowledge, institutional or technical, from older workers as they move into retirement. In a set of interviews conducted by the National Association of Manufacturers, 97 percent of firms expressed “at least some concern” about brain drain, and nearly half of firms said they are “very concerned.” In addition, many companies don’t have systems in place to preserve this sort of knowledge, which makes the idea of brain drain more intimidating. However, older workers bring a wealth of knowledge that can be passed onto younger workers. A quality management system (QMS) as well as an emphasis on mentorship and apprenticeship programs can help mitigate the losses that stem from brain drain. NATM has developed a QMS Resource Guide specifically geared to manufacturers. For more information on the resource guide, turn to page 40.
Greater productivity and better performance at the team level September/October 2021
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