How Central MN Employers Can Deal With an Aging Workforce

Minnesota's workforce is aging, with a growing share of jobs held by workers aged 55 and over, impacting the state's economy and workforce dynamics. By 2030, over 1 in 5 Minnesotans will be older adults, and the "retirement-to-working-age ratio" will peak. By 2030, all Baby Boomers will be at least 65 and the share of the Minnesotan population that is of working age (16-64) will crater to a historic low creating a labor crisis marked by talent shortages, lower employment gains, and potentially lower economic growth.  To learn more about how Central Minnesota employers can deal with an aging workforce, I was joined by Talent Director, Gail Cruikshank from the Greater St. Cloud Development Corporation.

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Cruikshank says mitigating the economic impact of Minnesota’s Demographic Drought will require partnerships between government, businesses, and educators. Deploying tactics to boost labor force participation, expanding the labor pool through immigration, and investing in new technologies and business models can help offset the impact of a shrinking labor supply.

Cruikshank explains, one of the most important priorities for employers is to provide flexible working conditions for older employees. According to AARP, flexibility in terms of working hours, location, and job protected time off is highly valued by older workers and is a significant factor in their job satisfaction.

9 Tips to Effectively Manage Older Employees
● 1) Keep an Open Mind. ...
● 2) Leverage Their Experience. ...
● 3) Encourage Learning New Skills. ...
● 4) Take the Time to Understand Their Motivations. ...
● 5) Appreciate Lifestyle Differences. ...
● 6) Be Open to Feedback. ...
● 7) Find Commonalities. ...
● 8) Don't Be Intimidated.
● 9) Focus on results.

Working forward:
1) Understand the needs of ALL employees including your older workers
2) Ensure workplace flexibility and flexible schedules
3) Embrace gig work or partial retirement
4) Rotate Job Functions/Cross Training Opportunities/Experience sharing
5) Invest in development
6) Reassign highly strenuous activities
7) Ensure healthier workplace/changing workplace ergonomics/multi generational workplace
8) Ensure your benefit package supports all employees from 1st job to last job.

Cruikshank says the challenge to Employers involves the following: ● What are you doing to continue to upskill/train your associates to compete in our ever changing work environment? ● Effective succession planning will provide a loyal, productive workforce providing continued opportunities for growth and new experiences for your younger workforce and extend the employment of your aging workforce to share their expertise and help fulfill your workforce needs.

If you'd like to listen to my conversation with Gail Cruikshank, it is available below.