Managing retention amongst the older workforce

the topic: (Managing retention amongst the older workforce)

I need a script to do my small presentation answering these 3 points with examples, also pls read the two paragraphs right down there
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1-External factors that affect employment turnover

2- Importance of managing employee turnover
3-Providing of fringe benefits to manage employee turnover
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In today’s day and age it has become increasingly difficult for the older workforce to be able to maintain their loyalty to their organizations. There are many benefits that are associated with employing an aging workforce, which are not being utilized due to not being able to retain the workforce. The first advantage is the professionalism and work ethic incorporated by the older workforce. The experience of being in the corporate world for so long sets an example to the younger workforce and boosts the overall productivity of the organization (Jones, 2017). The second advantage is the mastery of their skills over the years, as the older workforce has worked in many organizations and had the chance to be a part of various roles in an organization, they can also have the flexibility to be able to fit in and fulfill the responsibilities of different roles.(Fernandez, 2020) Being flexible to different roles is a major advantage as organizations may have to hire less workers for different positions. The last advantage is the mentorship provided by the older workforce. Majority of the older workforce enjoys the opportunity to mentor younger workers which will result in reduced training costs as the mentorship can lead to a more friendly environment and create more loyalty from younger employees. There are many ways an organization can fix this problem, some of the solutions include- comprehensive healthcare benefits, retirement benefits, financial planning and investment counseling and onsite care for grandchildren, these are some strategies an organization can amalgamate in order to retain the older workforce.

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In order to retain old employees, we need to know their needs. Compared to young people, most older employees care more about job satisfaction than the sense of belonging to the organization and good relationships with colleagues. Promotion opportunities and income become less important. One way to meet the needs of older workers to avoid stagnation and obsolete skills is to provide them with training and development opportunities to upgrade their current skills or acquire new ones, encouraging them to engage in learning activities(Armstrong-stassen & Schlosser,2011).
Higher levels of flexibility can be an especially valuable resource for older employees. Adding flexibility to where and when to work may improve an employee’s overall work experience. And, some obvious problems that commonly arise with age, such as caring for grandchildren or fulfilling family caring responsibilities, can be better addressed through work flexibility (Stirpe et al., 2018).

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