Does Experience Matter?
In this recession, unlike others in the past, older workers have a greater chance of retaining their jobs, as compared to younger, less-experienced workers. In addition, as workers get laid off, more experienced workers are more likely to find new employment than younger workers competing for the same jobs. More and more senior citizens are returning to work as they find that their savings have been wiped out. This further complicates the job search for younger people, who may have more academic qualifications, but who lack experience. During the past year, the teenage unemployment rate was the highest that it has ever been in 60 years, while the unemployment rate for senior citizens had actually decreased by over 5 percent.
Why is this so?
Companies are realizing the importance of experience over low salaries. By hiring less-experienced workers, they may save costs associated with salaries, but they are sacrificing more in the long run. Not only do older workers bring experience, they also bring loyalty, dependability and hard work. They are less likely to leave if they are offered a slightly better salary, and they bring with them their social networks which can prove invaluable to employers.
What are the Implications for Younger Persons?
Younger workers may not have the advantage of experience, but they are still very active job seekers. To land a job they will need to employ tactics which downplay their lack of experience and present them as equally employable candidates. They need to develop resumes which focus on their personal skills and qualities that employers would find valuable. Such qualities include their reliability, people skills, loyalty and their work ethic. They should put these skills in a separate section of their resume, where they will stand out, and expand and elaborate on them in their cover letter and interview.
