Every fifth person over 50 open to new job

3 July 2023

Older employees prioritise meaning and sustainability, Xing survey finds

One in five people over 50 (19 per cent) is open to a new job, according to Xing's analysis of FORSA surveys on willingness to change jobs and job satisfaction. While this age group is less willing to change jobs than the younger Z and Y generations, they are not without clout. The survey reveals what generation 50+ values about their jobs.

Low salaries and high stress levels lead to job change

Salaries that are too low (45 per cent) and too much stress (37 per cent) prompt the 50+ generation to change jobs. A similar proportion of the younger generations also give these reasons. However, over 50-year-olds are more critical of their company's strategic direction than younger people (35 per cent), and another 35 per cent complain of poor leadership. "In a time of widespread labour shortages, it is fatal for companies to lose their most experienced and often longest-serving employees. These people also take a lot of knowledge and important contacts with them," said Strombeck. So what can companies do to remain an attractive employer for the older generation?

Meaning of job more important than salary

Respondents in the 50+ generation value job meaning (64 per cent) rather than salary when it comes to a new employer. While money is the most important criterion for the younger generations (over 70 per cent), it is an incentive for 58 per cent of employees over 50. The meaning of work (64 per cent) and sustainable action by the company (26 percent) is more important to over 50 year-olds. Modern forms of work play a subordinate role. Although 67 per cent of the 50+ generation finds the four-day week attractive, there is less demand for working at home (41 per cent), remote work (36 per cent) and workations (14 per cent). Many older employees are "highly qualified, committed and loyal. It's time they got the attention they deserve from their employers," Strombeck stressed.

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