Manufacturing News

Battle proven baby boomers better during economic uncertainty

A REPORT has found there is a growing demand for senior experience in executive management positions, as more mature workers are said to be able to better manage and weather hard times.

With the global economy in the grips of the credit crisis and uncertainty in regards to what this will mean for employment, Australian HR agency Drake International says there will be a renewed emphasis on seeking out job candidates that have experienced changes in economic cycles.

According to David Edwards, Strategic Manager for Drake International, mature senior managers and executives of 45+ years offer a lot of benefit to business as they tend to be more conservative in their business approach and have a demonstrable ability to assess commercial risk.

“As the only generation in the current workforce that has experienced both periods of economic growth and uncertainty, Baby Boomers tend to display more knowledge and experiential capital than younger generations,” Edwards said.

“This means they come armed with the knowledge that tough times can be steered through and they take a ‘hands on’ approach to getting it done.

“The experience, maturity and wisdom of men and women in their 50’s and 60’s not only helps when making tough decisions but are invaluable in guiding younger, less experienced staff through turbulent times.”

Edwards’ comments are supported by a 2007 survey that showed a steady increase in the number of baby boomers in managerial positions, with a 40% weighting for the demographic increasing from 27% in 2006.*

He goes on to say a senior executives offer a combination of knowledge and hands on experience providing employers with people that are sensible, pragmatic and perhaps less inclined to panic in a nervous market and says he has observed a trend toward hiring executives with more conservative attributes this year.

“Now is a prudent time for employers to search amongst existing staff to find those that have weathered dicey patches in the economy before and utilise them to their full potential.”

*TEC Confi dence Index Q307

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