I never understand why a business would want to get rid of its most experienced employees.
I never understand why a business would want to get rid of its most experienced employees.
It happens due to short term thinking. There is an immediate boost to the bottom line, as higher salaried workers are terminated. Also, employer health insurance costs are much higher for older workers in their 50s and 60s than for 20 something or 30 something age workers.
It can also happen if companies think you can’t teach an old dog new tricks, so to speak. In some cases you may have a 35 year old manager, for example, who due to lack of experience, doesn’t see the value of older more experienced workers, in spite of the additional dollar costs of employing such workers.
I’ve not experienced, but have heard such stories, about a 30 year old MBA who comes in and thinks he is smarter than everybody else, and thinks nothing of cleaning house.