When Experiance and Qualifications no Longer Win out – Young
Experience vs longevity. Who is really more desirable? The older, more experienced, highly qualified individual- or the younger, trainable, and willing to work longer for less pay individual? The current economy has changed the game, so to speak, when it comes to who is more valuable.
These questions were once easily answered. Employers once wanted only the most qualified and experienced. Things have changed, the tide has turned. In this economy the bottom line trumps all. With companies struggling to make ends meet and stay afloat things have had to change. Unfortunately this negatively impacts the older more experienced and qualified individual. Of course no employer on earth is going to admit it, but its true. Why should an employer pay someone $25.00 an hour, plus benefits, when they can train someone half the age to do the same job for half the pay with NO benefits? In the current economic state of the nation many employers have weighed the risks and turned to the younger generation seeking their workforce. From a fiscal standpoint the math adds up.
Longevity is also a driving force. Baby-boomers are retiring in spades all over the country forcing companies to rethink their strategy. Learning key lessons from the current situation both economic and social. Does an employer want to hire someone at the top of their game and get maybe 10 years? Or perhaps hire someone who can be trained and double the longevity of their workforce? The answer is really cut and dry. Training costs companies hundreds of thousands a year, how can they see a return on this investment if that training is only valuable for a small amount of time? They need that invesment to pay off and they only way to achieve that is by making sure they hire the right people, the ones who companies know they can get the most out of.
Jobs are scarce, layoffs are rampant and replacement workers are easier to find. Companies know that they have the upper hand when it comes down to hiring. They can pick and choose, and right now in America, they have a wider sea to choose from. They can strategically hire and train to their own specifications. They no longer have to wait, nor can they afford to wait, for the most qualified individual to walk through their door. They have become more able to build a long lasting, high preforming workforce that is willing to preform longer for less. Companies can make their investment go farther and see a greater return. They can deliver the same product and service for half of the cost.
What does this mean for aging workers? It means that qualifications and experience no longer trumps all. It means older workers will need to make themselves valuable again in a whole new way. The American workforce has been deeply wounded by the economic downturn of the last 10 years. Leaving many with nothing left, but perhaps they can take their experience and venture out into a new career or even on their own. Of course all hope is not lost for the older more experianced workforce, however adapting to the new marketplace is essential. The more experianced workforce has more to lose, but at the same time more to work for. Thus they need more compensation for their time.
As for the younger less-qualified, your future looks bright. Just remember you are replaceable, and that will never change. Gone are the days of "stable" employment. You must keep yourself grounded and learn quickly to compete. Just remember youth fades, and there are many more vying for your spot. It is indeed a vicious circle. You must prove your worth, and your value every step of the way. The challenges you face will be many, and overcoming them are key to remaining in the workforce as a valued employee.
