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According to BusinessWeek (June 27, 2005), by 2045 the increased participation by seniors in the labor force could add an additional 9% to the gross domestic product sf 171 by 2045. Why are many employers now valuing older workers more? For years, older workers have been the first to be let go and the last to be hired when times are tight. Now, more employers are waking up to the fact sf 171 that employing older workers is good business. A great example is Borders, one of AARP’s featured employers, which more than tripled its percentage of sf 171 older workers between 1998 and 2005. After noticing that half of Borders’ customers are over 50, the firm reasoned that the best way to increase its market share was to stress personal service and to hire employees who could relate better to its customer base. Some results of this are: Turnover among workers over 50 is 10 times less than those under 30, which translates to an overall 30 percent reduction since the intentional recruitment of older employees began.
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