There are certain groups of people who believe that it will be beneficial if companies employ more elderly people. Although employing more old people may foster exchange of experiences, I contend that, on balance, the advantages of employing elderly people outweigh its drawbacks.
On the one hand, employing elderly people contributes to exchange of experience among a company’s staff. To provide further explanation, elderly people tend to have a big experience that enables them to work more efficiently and share that experience with younger colleagues. Additionally, it will boost company’s general output since young workers obtain crucial knowledge and become more proficient because of exchange of experience. To illustrate, a study conducted by Harvard University in 2012 showed that companies that employed elderly people produced better output in the first quarter of 2011, while companies that only relied solely on young professionals failed to achieve high output.
On the other hand, elderly people need to adapt to new technological advancements and changes in work processes, leading to long adaptation. To clarify, old people are prone to not having any general knowledge about new technologies in a work process. Therefore, they may produce less output comparing to other people in a company. Moreover, companies need to plan for retirement age and succession, ensuring a knowledge transfer. For instance, a research conducted by Oxford University in 2012 disclosed that elderly people do not produce output as well as their younger collegueas.
In conclusion, while employing old people may bring several issues such as adaptibility and health concerns, I contend that it can contribute to exchange of experience among a company’s staff, leading to better general output.