Gray hair: Essential ingredient for a successful dot-com

ITworld.com |  Business

The high-tech workforce, besides being young, is very mobile. That young hotshot you
gave the big bonus to last year may get a better offer next month and be out the door.
The United States Bureau of Labor Statistics reports an overall downward trend in
employment tenure, with the average worker staying with one employer only an average of
3.6 years (with technology-related vocations on the low end of that average). However,
the report shows that older workers tend to stay with one employer longer, a factor
which will ultimately save you dollars in training and replacement costs. In fact, the
median tenure for workers aged 45 to 54 was more than double that of workers aged 25 to
34.

We're getting older

The 75 million baby boomers born between 1946 and 1964 increased the size of the labor
market, and in recent years have raised the average age of the workforce. As the pool
of available workers continues to age, companies need to take older workers seriously
because they will grow increasingly dependent on them. In 1995, workers aged 45 and
older represented 31 percent of the labor force, but by 2005 -- due in large part to
the aging baby boom population -- that figure will increase to 37 percent. Much of that
growth will occur among 50- to 60-year-olds. That means that the available pool of
younger workers will shrink in comparison to available older ones. The good news is
that baby boomers have done better than any other generation in terms of education,
with 25 to 30 percent having college degrees.

As boomers continue to age, those youthful dot-coms will start to show a little gray
hair, and the level of experience that gray hair brings will only serve to enhance
their success.

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