by Roberto Matuson
Originally published: June 20, 2016
The “juniorization” of organizations is a phenomenon in many businesses these days. This is where older workers are being swiftly replaced by younger workers, all in the name of saving money. Here are some things to consider before jumping on this bandwagon.
Experience matters: Early on in my career, I worked in the oil industry. Things were going great until the price of oil dropped dramatically. With less than a year of experience under my belt, I found myself unemployed. Confused, I asked my older co-worker why I was chosen. He explained to me that with his experience, he could do his job and mine. Clearly the opposite was not true.
Hiring young people to do the work of experienced people to save money simply doesn’t add up. You may save a few dollars on the front end, but you will most certainly lose money when you factor in employee productivity and high turnover that is common among junior workers.