There are several advantages and disadvantages of employing a younger workforce. The main advantage of hiring young personnel is that these young people are usually very motivated because they are very keen to start working in the world and will try to do their best. They bring fresh, innovative ideas. They move in a global environment in which new technologies and current affairs are the order of the day, so they can bring new ideas and work methodologies. Their lack of experience is the perfect opportunity for the company to train it according to its objectives and expectations. In addition, they usually learn fast, so that in a short time they will be ready to cover the position successfully (Rothschild, 2014). Another advantage of hiring young people is obvious: their training. Access to the university has made it possible for millennials to become the most qualified generation of young people to date, in fact, many of them have expanded their university education with online courses and masters. Young people are also driven by self-improvement, and they want to achieve professional success through personal growth (Reddy, 2019). Another advantage of hiring young people is that this generation does not base their personal motivation salary only. There are other cheaper ways (but just as rewarding) to reward millennials, such as flexible hours, personal recognition of their peers or a promotion plan.
However, regarding the disadvantages, it can be stated that it provides the company with an extra expense and an investment of time and effort since the company has to train them. Another disadvantage is that young employees do not know the industry well and it may become hard to compete with other companies in the same industry. In addition, young employees do not have developed skills, market influences or emotional maturity. Their attention capacity is also very limited since they have been raised in an environment with an excess of stimuli, because of so many devices are accessible around them (Rothschild, 2014). Lastly, they can be impatient. The fact of being so used to technology and immediate information makes them want results with immediacy. Although it contributes to having a capacity to respond quickly to any problem or situation, the truth is that it can be a problem when it comes to managing projects in the workplace.
There are also several advantages and advantages of hiring older employees above the age of 65 years. The advantages of hiring a senior nowadays are numerous, as people with a longer life span have a longer career, a considerable amount of knowledge and a more extensive experience in different matters, so they can contribute a profile to the company of employee different from other age groups. Because of their experience, they tend to be better interlocutors in delicate or difficult situations. Usually, the mature professional has a lot to offer organizations, emotional stability is one of them (Burton, 2017). They are more mature people, with a more stable life, who know what they want and how to achieve it. So your level of commitment and loyalty to the company is beyond doubt. The network of contacts that senior workers possess is very wide since they have been working for many years. In addition, the knowledge and work methods to which they are accustomed are different from other groups of employees, such as millennials. This mixture of profiles in the same work team can give surprising results.
Among the disadvantages of hiring older employees is their reluctance to change in general and the difficulty they must face to change their way of working and adapt to current work trends and work methods (Rothschild, 2014). Their career plan is no longer as long-term as it can be for a young worker. Their plans are short-term and for any of them, the promotion is not a good incentive. Some older employees also have difficulty adapting to the rapid technological changes that occur in the digital age. In some cases, they take more time to adapt to new environments.
Fig Technologies should improve their workplace diversity. Diversity and inclusion in an organization is about creating an organizational culture strong enough to understand differences of any kind, with programs that ensure the well-being of employees, and where there is an environment in which communication is open and effective (Bell, 2017). The benefits of building in diversity are many and worthwhile. It improves team performance, commitment, and motivation; emphasizes creativity and innovation, promoting the identification of new business opportunities; helps attract and retain talent; contributes to a better organizational climate; and not only benefits the reputation of the company but deepens its commitment to the society. When people from diverse contexts, cultures, ages, and beliefs are brought together, they bring with them a rich range of work styles, thought processes and different perspectives (McQuerrey, 2018). This combination is one of the most valuable resources to promote innovation, efficiency and reach out to its consumers. In short, the management of diversity goes beyond the incorporation of workers of different ages, nationalities, cultures, etc. It involves managing the different approaches and perspectives that each person, from their difference, has regarding the work they perform. A culturally diverse and properly managed team is an opportunity factor that will generate innovation and competitiveness in Fig Technologies.
Bell, M. P. (2017). Diversity in organizations (3rd ed.). Boston, MA: Cengage Learning.
Burton, E. (2017). The Pros and Cons of Hiring Mature Workers. Retrieved from https://recruitloop.com/blog/the-pros-cons-hiring-mature-workers/ on 30th January 2019.
McQuerrey, L. (2018). The Advantages of Diverse Ages in the Workplace. Retrieved from https://smallbusiness.chron.com/advantages-diverse-ages-workplace-17928.html on 30th January 2019.
Rothschild, D. (2014). The Pros and Cons of Hiring Old vs. Young Employees. Retrieved from http://hiringsciences.com/2014/10/03/pros-cons-hiring-old-vs-young-employees/ on 30th January 2019.
Reddy, C. (2019). Advantages and Disadvantages of Hiring Young Employees. Retrieved from https://content.wisestep.com/advantages-disadvantages-hiring-young-employees/ on 30th January 2019.
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