How Do Businesses Benefit from a Mature Age Worker Subsidy

All types of businesses consider their employees as investments. Yet, employee turnover is one of the top issues many businesses face. Changing industries, finding better opportunities, or moving up the ladder are the top reasons for fast employee turnover.

To this end, it’s obvious that employers prefer to hire employees who are stable and hard-working. Having these kinds of employees is the fastest way for businesses to turn a profit.

The perfect solution is provided by a mature age worker subsidy. A mature age worker subsidy allows for filling in the hiring gaps in many types of organisations and businesses. Below are the reasons why finding jobs for older workers to fill up in your company can benefit you.

Work ethic and company loyalty of mature workers

Finding their niche and being loyal to it is natural for older workers. Employees working during the 70s and 80s tend to work in fewer than 2 companies during their entire careers. This provides mature workers with the experience and understanding of the industries they become involved.

The life skills and wealth of knowledge mature age workers bring to various businesses allow them to welcome total immersion into a new business or industry. Their lessened family responsibilities allow them to become more available for overtime or extra work.

Their work ethic of top work performance in everything they do make mature age workers sets a good example for younger workers.


Gain incentives from the government

Government funding is available for businesses willing to hire mature age workers over the age of 50. Businesses that become eligible for government incentives are provided wage subsidies over 6-months.

The government incentives are there to encourage businesses to hire workers aged 50 or older. Retaining employees becomes less problematic with businesses opting to hire mature age workers.

Additionally, payment of the financial incentive from the Australian government is negotiable for all types of businesses. A “kickstart” bonus of up to 40% is also provided by the government after the fourth week of employing a mature worker.

Other than the financial incentive, getting a mature and experienced worker is already a win-win situation for any type of business or organisation.


The best way to improve and diversify the workforce of a business

A research group has found that lower absenteeism is among mature aged workers. Businesses become more productive with lowered rates of employee absenteeism.

The years of working experience from being employed in various industries is also one of the top incentives mature aged workers bring to the table. While great technological strides have changed the workplace, the same principles of running a business remain as is.

Furthermore, the contribution provided by mature aged workers is a wonderful way to fill the skill gaps of younger employees. The different perspectives provided by a mature aged worker could help to improve the practices of a business.

Take advantage of a Mature Age Worker Subsidy from the Workforce Australia Services

Up to $10,000 GST is the financial incentive provided by Workforce Australia Services for businesses opting to hire mature employees ages 50 and over. It is because the Australian government believes in the strong work ethic, experience, skills, and reliability provided by mature aged workers.

Up to $2,200 GST is also provided by the Australian government as an incentive for the skills and training of older workers. Older workers have been seen to remain employed with the same employer for longer periods with the right training.


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