Retaining older workers benefits manufacturers, and having multigenerational teams boosts company productivity, employee engagement and the bottom line, according to a new study by the MI’s Center for Manufacturing Research and AARP.
Valuable assets: “The labor market is challenged right now, with a historic number of resignations across the economy, including a significant number of retirees,” said MI Executive Director Carolyn Lee.
- “Employees with a long history in a specific company or in the sector contribute greatly to the production and ideas on the shop floor, and companies are not eager to lose their insights and hard-earned experiences. This study highlights the benefits of having teams with members from diverse age groups—and the steps manufacturers can take to maximize those benefits.”
Management tips: The study covers best practices for multigenerational team management, as well as how to leverage age diversity in the manufacturing workplace.
Paying dividends: “As a result of the workforce challenges, manufacturers are finding that retaining older workers is not only a necessity but an asset,” said AARP Executive Vice President and Chief Advocacy & Engagement Officer Nancy LeaMond. “Research shows that age-diverse workforces have a positive effect on employee engagement, productivity and the bottom line. The expertise of older workers helps businesses and pays big dividends for the economy as a whole. Employers who embrace age diversity will be at an advantage.”
Join us for “Multigenerational Teams in Manufacturing,” a webinar sponsored by the MI and AARP, on Thursday, Dec. 9, at 3:00 p.m. EST. This event builds on the study, which was released on Nov. 30. The webinar will include a discussion of this research and what it means for multigenerational teams. During the event, you will hear from AARP and MI executives and subject-matter experts on the research. We hope you will be able to join us for this important and timely discussion. To register, click here.