Category: Brandpoint Business & Finance

2023-11-10T12:01:00

(BPT) – Farmers markets are strong contenders for the future of local food. Each season, more than 8,000 markets sell directly to consumers across the U.S. Direct-to-consumer food sales totaled $2.9 billion in 2020, and on-farm stores and farmers markets accounted for $1.7 billion, according to the United States Department of Agriculture.

Farmers markets are a boon to local communities because they provide fresh produce at affordable prices. More importantly, they empower community members to understand where their food comes from and who grows it, creating strong interpersonal connections between growers and consumers.

The idea of selling produce at a farmers market can seem daunting to many food producers. However, Chip Ross, well-being program manager at Syngenta, encourages growers to be open to selling at farmers markets. “It’s certainly something to put yourself out there and build a positive reputation about your produce,” said Ross.

Investing money and labor to reap rewards

On average, across the country, farmers market booth fees vary based on the market’s location, size and popularity. According to Medium, daily booth fees can range from $20 to $50, in addition to permit and insurance fees. While these costs may discourage growers from participating, the connections they make at farmers markets can turn strangers into lifelong customers.

For 30 years, Donna and Ed Welchert of Ed Welchert Produce in Ft. Calhoun, Nebraska, have attended the Omaha Farmers Market every Sunday from May to October to sell their fresh vegetables. Each Sunday, the Welcherts spend three hours removing their produce from the truck and setting up their booth.

While the weekly setup requires more labor and costs, joining has brought them more business. “We pay an annual fee for our booth, around $1,100, and we’re in the same exact spot every week, every year, so everybody knows how to find us,” said Donna. “We’ve gained tons of customers who have been with us for years.”

Interacting with customers in person at the farmers market and through social media has helped the Welcherts build community connections. These connections allow consumers to get to know their growers on a personal level and reach out directly with any questions or requests.

Weather the weather, whatever the weather

Weather has a major effect on crop yields and food traffic at the farmers market, impacting growers’ sales. One common disadvantage is a lack of overhead booth coverings, which means harsh weather may damage booths, displays and products.

Zoua Lo, owner of Lu’s Flowers and Vegetables, knows all too well that sales are largely dependent on the weather. “If it’s a rainy day, we don’t have any customers. If it’s a nice day, we have lots of customers,” Lo said.

Despite being at the mercy of the weather, Lo and other growers persist. While selling at a farmers market can be a gamble depending on the weather, maintaining a consistent presence at the market long-term can offset the poor sales days.

The human element

Donna Welchert says when attending a farmers market, bringing ample produce is always a good idea. “A long time ago, we were told to ‘stack it high and watch it fly,'” she says. “We live by this motto, and we found that people want to pick out their own stuff. They want to look through the peppers and say, ‘This is the one I want.'”

By shopping at a farmers market, consumers can find the perfect produce with the guiding hand of those who nurtured the vegetable or fruit from seed to stall. It’s this human element that makes the farmers market experience unique for sellers and buyers and leads to better profits for growers.

Lo agrees. She believes the key to success at a farmers market is simply talking to customers and fellow vendors. Being friendly and connecting with the community builds long-lasting relationships that can buoy growers through good and bad days.

These are just a few examples from growers of how farmers markets are more than just a platform for commerce. These spaces are hubs for connection, education and community building that ultimately contribute to the longevity of farming communities.

To learn more about farm production and the wider agricultural community, visit SyngentaThrive.com.

2023-11-08T15:01:00

(BPT) – While the definition of the “American Dream” is subjective, a new Chase survey of more than 2,500 Millennial and Gen Z adults shows that they believe freedom and homeownership are its most important pillars. The vast majority of respondents (78%) say that their goals are within reach, even as they recognize several factors making it more difficult today, such as housing affordability, inflation and the rising cost of living. The study’s findings also underscore the need for accessible financial education, particularly as young adults prepare for major life purchases.

2023-11-03T11:01:00

(BPT) – Employees make career decisions for a variety of reasons, but an increasingly popular factor that many consider is whether their work will be meaningful — especially among younger generations.

According to Fidelity Investments, 86% of all workers say it’s important to them to work for an employer with values that align with their own and half of all employees are considering changing employers in the next year — with many searching for more meaningful work.[1]

As such, employers are realizing it’s more important than ever to connect with their employees on the things that matter most to them and to put their company’s values at the front and center.

With so many workers considering a career shift, employers are turning to workplace giving programs to demonstrate their authentic company values and attract and retain their workforce. In fact, Fidelity data shows nearly 8 in 10 employees at companies offering a workplace giving program say their company’s values align with their personal values — compared to only 56% of employees at companies without one. Workplace giving programs include any employee benefit that supports and encourages employees to volunteer or make donations to charities. Here are three ways employees use workplace giving benefits to find more meaning at work.

• Setting up or attending organized group volunteer opportunities in their communities.
• Receiving a matching donation from their employer when they donate to charity.
• Working with local organizations in need and holding corporate giving drives around the holidays.

These programs not only boost engagement at work, but they also help employees find a deeper sense of connection to their company, and their jobs. Additionally, employees also feel more connected to their coworkers — many of whom are returning to in-office work for the first time in years.

For more information about workplace giving opportunities, visit Fidelity.com/giving.

2023-11-01T07:01:01

(BPT) – Did you know your age may affect your perception of how much life insurance you need? The annual Insurance Barometer Study conducted by LIMRA and Life Happens reveals insights about how life milestones impact people’s attitudes about life insurance. This year’s study included members of Generation Z for the first time, offering an interesting window into how four different generations approach life insurance.

These are the ages each generation featured in the study represent:

• Gen Z: Born 1997-2012
• Millennials: Born 1981-1996
• Generation X: Born 1965-1980
• Baby Boomers: Born 1946-1964

At each life stage, people have different priorities and concerns — plus assets they want to protect. However, at times all four generations shared the same results, regardless of age.

While 58% of Baby Boomers and 54% of Gen X own life insurance, less than half of millennials and Gen Z do (48% and 40%, respectively). Interestingly, there were common responses for the top 3 reasons all ages reported for not having coverage:

• think it is too expensive
• saying they have other financial priorities
• being unsure how much they need/what type to buy

Therefore, the study found that across generations, from Gen Z to Baby Boomers, consumers greatly overestimate the cost of life insurance and cited perceived expense as the biggest barrier to making the purchase.

Gen Z: Growing up and starting out

For the youngest generation in the study, life insurance might be far from their minds. However, experiences during the pandemic may have increased awareness about the need for life insurance. While policy ownership remains lower than other generations, nearly half (49%) reported needing life insurance.

The study also found many in this generation didn’t think they could afford life insurance, and nearly one-fourth (24%) said they wouldn’t qualify for coverage. Combined with millennials and Gen X, over one in four of these younger generations stated they weren’t sure how much or what type of coverage to get.

Millennials: Taking on responsibilities

As millennials develop careers and form families, it makes sense that they show the highest level of financial concern (39%) compared to others. This is an age when many feel the most financial pressure.

For this reason, it’s not surprising that of the 80 million millennials in the U.S. today, nearly half (45%) own life insurance, and more than one-third said they’re likely or very likely to buy some in the next year, according to the LIMRA study. Millennials purchased more than half of the individual life insurance policies sold in the prior 24 months (52%).

Gen X: The “sandwich” generation

The age of Gen X is a challenging time of life when they may be raising children while simultaneously caring for aging parents. Just over one-third expressed high financial concern. But for all three of the younger generations combined, one-fourth of them cite “lack of knowledge about life insurance products” as a main barrier to owning a policy.

Especially for the older segment of Gen X, retirement and health considerations loom large. They have concerns over issues like disability-related expenses, long-term care and emergency savings.

Baby Boomers: Working and retiring

Baby Boomers have the lowest level of financial concern by a significant margin (17%), and lead the other generations in terms of overall life insurance ownership rates. Many Boomers have already retired, with most approaching that milestone soon, making them less likely to perceive a need for additional or new coverage.

Barriers to coverage remain

While younger Americans stated a need for life insurance, the purchase process can seem intimidating. With assistance and education, however, people of all ages should be able to find coverage to suit their stage in life and financial needs. Understanding how your needs and budget changes as you move from one life milestone to another is a vital step toward ensuring you have the best life insurance coverage for your current situation — and your family.

To learn more about how life insurance coverage can protect your family at any stage, visit BostonMutual.com or contact your company’s benefits coordinator or HR department. For information on benefits available outside workplace offerings, or if life insurance workplace benefits currently aren’t an option, visit BostonMutual.com/Learn More.

Policy Series: END-95(ESO)(20/21)

335-5104 10/23

2023-10-31T11:51:01

(BPT) – During a time when grocery prices are at all-time highs, savvy shoppers are doing their best to get the highest quality and most nutritious food for their dollar. According to a 2022 Deloitte survey, 92% of consumers say that price is a top consideration when purchasing fresh food and 78% of consumers believe the right foods can preserve health and prevent disease. We asked registered dietitian Bianca Tamburello which foods are the best choices to maximize your grocery budget and health.

“Prioritize nutrient-dense foods, like salmon,” she says. “Most Americans do not eat the recommended two servings of seafood per week and may be missing out on key nutrients. Plus, seafood is not as costly as you think. On average, two 4-oz salmon filets are about $6.”

Tamburello shares three reasons salmon should be at the top of your budget-friendly grocery list.

1. Research shows that people who eat more salmon are healthier

Studies show that seafood’s superb nutrition profile helps protect health and ward off disease. Research suggests that people who eat more seafood, including salmon, have lower risk of heart disease, heart attacks, stroke, depression, and liver cancer. Moreover, several studies found seafood consumption to help slow age-related cognitive decline and prevent Alzheimer’s disease.

2. Salmon is a great source of hard-to-find omega-3 fats

Tamburello says, “Salmon ranks high on the list of most nutritious seafood and is a top choice to enjoy weekly because it’s packed with EPA and DHA, two of the most important types of powerful omega-3 fats.” Eating more omega-3 fats is linked to decreased inflammation, better heart health, and lower risk of certain cancers. It’s important to eat foods high in omega-3s, like salmon, because they’re essential, meaning our body cannot make omega-3s when stores are low.

She adds, “As a registered dietitian, I recommend Chilean salmon because it’s particularly high in omega-3 fats, low-mercury, and responsibly raised. Plus, omega-3 fats found in salmon support health throughout the lifespan including childhood, pregnancy, and healthy aging.”

3. Salmon offers up high-quality protein and vitamin B12

High-quality protein and important vitamin B12 give more reasons to eat salmon weekly. For example, a 3.5-oz (100 grams) cooked salmon filet packs a whopping 22 grams of protein, 117% daily value of vitamin B12 and 66% daily value of vitamin D. Other animal foods also offer up protein and B12 but lack the vitamin D found in salmon and some other seafood. Vitamin D plays an important role in absorbing phosphorus and calcium to support bone health and promotes a healthy immune system.

Seafood is easy to prepare for weeknight meals

Chilean salmon is easy to prepare and available both fresh and frozen year-round. To help balance your grocery budget, buy fresh on sale and freeze for future meals. Buying frozen is another delicious and convenient way to enjoy salmon. Individually wrapped filets take just 15 minutes to thaw and cook quickly for nutrition-packed meals in a pinch. Pair salmon with your favorite fresh or frozen vegetable and a complex carbohydrate like brown rice or sweet potatoes for a well-rounded meal.

For more information about salmon, nutrition, and delicious recipes visit chileansalmon.org.

2023-10-31T08:01:00

(BPT) – More and more people are changing their everyday habits to be more mindful of the environment and take care of the planet. One major concern that’s top of mind for consumers and businesses alike is plastic waste.

A major culprit of plastic waste is one that you likely see every day: Disposable plastic water bottles. According to the Container Recycling Institute, 86% of disposable water bottles used in the U.S. become litter or garbage, adding 38 billion disposable water bottles to landfills.

Consumers concerned with their plastic consumption are changing their behaviors and making more eco­ conscious choices in their day-to-day lives, including purchasing reusable water bottles. CivicScience, a consumer analytic platform, found that 60% of U.S. adults own a reusable water bottle.

Of course, having a water bottle is only useful if people have a place to fill them. You can fill your stainless steel, glass or aluminum water bottle at home, but it likely won’t last you all day. There might be times when you have to buy a plastic water bottle because there’s no other option for drinkable water. Consumers can only make more conscious, sustainable decisions if clean water infrastructure is available to support these lifestyle changes — and that’s where Hispanic- and Latino-owned company HOPE Hydration is stepping up.

A smart way to hydrate

HOPE Hydration aims to increase sustainable, quality water access by giving people more opportunities to refill their reusable water bottles via HOPE’s ad-powered, smart-city water refill station — the HydroStation. Brought together by a desire for a more sustainable future, HOPE’s team of co­founders — Dave Tigue, Cristina Gnecco and Ryan Barretta — have used their expertise to create a technology solution to motivate new behaviors around water consumption, conservation and reducing the environmental impact of plastics pollution.

The HydroStation, connected to T-Mobile’s powerful 5G network, has the potential to divert single­-use plastic bottles from landfills and oceans while increasing sustainability and access to quality, free, clean and filtered water. “We’re all about leveraging our network, scale and resources to be a force for good in the world we live in,” said Callie Field, President, T-Mobile Business Group. “And it’s clear that HOPE shares that passion.”

Just this summer, the Times Square Alliance partnered with HOPE to introduce a HydroStation to the heart of New York City, providing filtered water to over 300,000 visitors per day. Sustainably accessing clean water is incredibly important for any place, but it’s of special concern for folks living in or visiting urban areas like Times Square.

HOPE’s partnership with the Times Square Alliance isn’t the only partnership the startup has forged. This year, the Cannes Lions International Festival of Creativity collaborated with HOPE to install HydroStations throughout the festival. HOPE also partnered with Wellington International’s Winter Equestrian Festival, marking the startup’s first installation at a worldwide equestrian venue and Ultra Music Festival, refilling 40,000 bottles in just three days.

Powering sustainability

The smart HydroStations wouldn’t be possible without internet connectivity and IoT solutions. The IoT technology, in particular, allows the company to keep near real­-time tabs on their filling stations. Thanks to T-Mobile’s partnership, the startup can ensure proper water temperature and filter quality, monitor usage, calculate the amount of plastic diverted and much more.

“HOPE Hydration is thrilled to work with T-Mobile as our connectivity and IoT provider,” said Jorge Richardson, Founder and CEO of HOPE Hydration. “We believe access to free, clean water is a human right. This collaboration allows us to bring HOPE, and our stations to the next level while building smart-­city solutions for a more sustainable future.”

“We’re incredibly proud to work with Hispanic and Latino business owners,” said Field. “By equipping them with cutting-edge technology solutions, we hope to see them succeed, grow and change the world for the better.”

To learn more about HOPE Hydration, visit hopehydration.com.

2023-10-17T14:13:00

(BPT) – Today, in 2023, there are more credit cards than Americans — with over 441 million credit cards issued across the country. Paying with credit is an extremely popular payment option for several obvious reasons. With just the swipe of a card, consumers can use their credit cards to make safe, secure, and efficient transactions.

But that’s not all! Thanks to the innovation of electronic payments, there are more credit card payment forms than ever that are constantly being developed such as tap-to-pay options, QR codes, and virtual cards. With credit cards, paying has never been easier.

The alternative to electronic payments is to pay with physical cash, which, unfortunately, comes with some risks.

The reality is that cash creates major security concerns. Perhaps the most major concern is that cash is vulnerable to theft. Physical currency is much riskier to deal with and harder to track down. Unlike electronic payments, it is extremely difficult to trace or recover cash once it is stolen, making it an attractive target for thieves.

To help prevent the risks associated with cash transactions, businesses are forced to spend money to bring in costly security measures. These security measures can include anything from on-location guards to armored cars for cash transport. If it weren’t for the risks that come along with cash payments, the money used toward these security measures could be better utilized for resources like business innovation or employee benefits.

Not only do consumers bear the cost of cash, but retailers also suffer the consequences. Data reveals that U.S. retailers lose an estimated $40 billion each year to cash theft. On the other hand, credit cards are equipped with advanced fraud protection. Financial services companies spend billions of dollars each year to bolster cybersecurity and ensure secure transactions for consumers.

It’s safe to say that credit cards are the most effective payment method because they provide both protection and convenience at the checkout counter. For consumers and merchants alike, security is of the utmost importance when it comes to making or receiving a payment.

Credit cards provide advanced security features such as EMV chips, PIN numbers, and transaction alerts. The good news is these layers of protection ensure that your transactions are safe from fraud attempts and allow consumers to shop with ease. The bad news? This crucial card security may not be around forever.

Proponents of proposed credit card legislation want to implement routing mandates that could jeopardize fraud protection. If passed, this legislation could redirect billions in consumer spending to less secure, higher risk payment networks. Ultimately, this bill could affect the security and innovation that credit cards provide to us every day.

2023-10-15T11:59:00

(BPT) – It’s no secret that farming is a physically demanding job, but the mental and emotional toll of the profession is often stigmatized or ignored. Fortunately, the mental health impact of running a farm is being increasingly studied and, as a result, better understood.

For example, Josie Rudolphi, Ph.D. — an assistant professor and Extension specialist in the Department of Agricultural and Biological Engineering at the University of Illinois and co-director of the North Central Farm and Ranch Stress Assistance Center — researches farm stress and mental health, agricultural safety and health and child agricultural injury prevention.

“We know that farmers experience really unique work-related stressors,” said Rudolphi. “These include the unpredictable nature of commodity prices and environmental conditions, which can tremendously impact their bottom line.”

According to Rudolphi, farm finances are a leading source of stress, regardless of what’s happening in the economy, and research shows financial and environmental stress are associated with symptoms of anxiety and depression. Perhaps this is why the number of people in the agricultural community who experience clinically significant symptoms of anxiety and depression exceeds those who experience similar symptoms in society at large.

A survey by Rudolphi and her team found that nearly 60% of young farmers met the criteria for depression, and even more met the criteria for anxiety. For the general population, it’s closer to 20%-30%. Given the prevalence of these mental health struggles, it’s critical that farmers have access to mental health care.

Barriers to care

Farmers seeking access to mental health care run into many barriers to care, one of which is simply finding services. In many places in rural America, there aren’t enough providers to meet the community’s mental health care needs.

Another challenge farm families face is cost. Because most farmers are independent producers who may operate on very thin margins, mental health care is often considered a luxury or an unnecessary expense.

While the lack of mental health resources and the ability to afford them may be discouraging, raising awareness of mental health issues in farming communities is crucial for removing barriers to care.

Recognize the signs of mental health issues

When communities know the signs of mental health issues, it can help decrease the stigma for those dealing with these struggles. For example, a change in behavior is one of the main warning signs of anxiety and depression.

“When people begin to behave differently, for whatever reason, it’s important to understand why,” said David Merrell, M.D., a regional physician with Syngenta Health Services and the on-site medical doctor for Syngenta in Greensboro, North Carolina. “Don’t wait. If you see a behavioral change, raise the question.”

Approaching someone experiencing behaviors outside of the norm gives them an opening to talk about their emotional health, stresses and worries. When approaching people struggling with mental health issues, patience is important. On average, people experiencing mental health issues take more than 10 years to speak up. That can be especially true for the rural community.

“Farmers and farm families are typically very self-reliant and can be reluctant to seek help,” said Merrell. “Recognize that everything is therapy. Hobbies, self-reflection and sharing your concerns with others are all forms of therapy. The question is, what kind of therapy do you want? Engaging a mental health professional can provide access to a better, higher quality of care.”

Help is here

To address the lack of mental health resources for farmers, the USDA has funded four regional farm and ranch assistance networks. They are:

• North Central Farm and Ranch Stress Assistance Center
• Western Regional Agricultural Stress Assistance Program
• Cultivemos
• Southern Region Farm and Ranch Stress Assistance Network

Each network has a dedicated website and links to mental health resources and support for farmers, ranchers and agricultural workers. This regional approach is important to meeting the unique needs of each farming community. For example, in the North Central region, Rudolphi and her team are working to deliver mental health literacy programs for agricultural producers and those who work with them, including bankers, retailers, seed dealers and others who know farmers professionally and personally.

“We are training these people to be mental health allies,” said Rudolphi. “That includes when it’s necessary to intervene and how to talk about mental health. We still see stigmatization around mental health in these communities, but I think that’s starting to change. Hopefully, through education, increased awareness and shifting attitudes, farmers and their families will be encouraged and empowered to take the steps necessary to enhance their emotional well-being.”

To learn more, visit www.SyngentaThrive.com.

2023-10-12T16:19:00

(BPT) – Are you hunting for the perfect gift this holiday season? Choosing a personal or corporate gift that will delight your dearest friends or show appreciation to colleagues and customers can be challenging.

However, there is one gift that many agree they’d enjoy receiving: Food. In a recent consumer survey, 73% of Americans would rather receive a food gift during the holidays than a material object. They believe that food gifts are more heartfelt and enjoyable at holiday time. We totally agree with that!

Greyston Bakery understands that gifting a sweet treat during the holidays is a great way to delight your recipients and show how much you care. Check out these four reasons why a food gift should be your go-to present this holiday season.

1. A Gift With Meaning

Do you have a special holiday treat that makes you nostalgic and reminds you of warm family gatherings? Gifting food has the power to evoke long-lasting memories and strengthen personal connections.

Whether you choose a basket of gourmet goodies, a homemade dessert, or a selection of artisanal brownies, a food gift shows thoughtfulness and adds a warm touch. It can also help ease holiday meal preparation for those who are hosting. Instead of having to bake or buy a dessert, they can focus on dinner, knowing your gift will be a special addition to the festivities.

2. The Joy of a Shareable Gift

The holiday season is all about gathering around the table to enjoy a meal with people we love and cherish. And there’s no better way to end a good meal than with a warm, decadent, fudgy brownie or a moist, buttery blondie.

If you’re buying brownie gifts for yourself to share with family and friends or sending to someone that you care about near or far away, food gifts like Greyston Bakery brownies and blondies make it easy to gather and celebrate the best of tidings. Best of all, a sweet treat that gives back embodies the spirit of the year-end celebrations.

3. Varieties to Meet Your Needs (and those receiving your gift, of course!)

Greyston Bakery brownies and blondies are available in a range of truly delicious flavors. Whether you’re buying for chocolate fudge lovers, vegan goers, blondie enthusiasts, cinnamon aficionados or birthday cake devotees, you can rest assured that these sweets will be a crowd pleaser for all to enjoy. After all, this is the same company that makes the fudgy brownies that go into Ben & Jerry’s ice cream. Can’t beat that!

Check out the bakery’s website to see all the available delectable bundle combinations. Variety is the spice of life and their selection will not disappoint. Not to mention, they’re certified kosher, made with non-GMO, ethically sourced ingredients with no artificial preservatives. All the good stuff that you want in a delicious gift.

4. A Gift That Does Good

As the saying goes, ’tis better to give than to receive, and giving a gift that gives back is as top-of-the-line gift giving as you can get. When you give a gift that contributes to a worthy cause, you demonstrate a commitment to positive social impact. Perhaps, in turn, your gift can inspire others to do the same.

Making decadent treats that taste good and do good is part of Greyston Bakery’s mission. They don’t hire people to bake brownies. They bake brownies to hire people. The bakery’s Open Hiring^® policy puts its worthwhile mission into action and provides meaningful jobs to those who have experienced barriers to employment. Every handcrafted Greyston Bakery gift you send gives another person an opportunity to live a productive life for themselves and their families. That’s why all their packages say, “Eat Brownies. Change Lives.”

Win at gift giving this holiday season (and year-round) by choosing a delicious brownie and blondie gift that is meaningful and shareable, with an assortment of flavors from a mission-based bakery that promotes positive social impact. To learn more about how you can send a corporate gift to colleagues, or a personal gift to friends and family, or order for yourself to bring to holiday gatherings, visit GreystonBakery.com.

2023-10-06T16:05:00

(BPT) – By Gary A. Officer, President and CEO of the Center for Workforce Inclusion

When you think of new hires, who do you picture? While you may expect applicants to be 20-somethings straight out of college or 30- to 40-somethings making a career change, in reality, you’ll likely see more applicants who are older adults. According to a report by the U.S. Special Committee on Aging, workers 55 and older will soon represent 25% of our nation’s workforce.

However, just because more older adults are applying for jobs doesn’t mean they are getting hired. Many older applicants face ageism during the hiring process. A survey by AARP found that it took older workers who were displaced during the Great Recession twice as long to find a new job than younger workers. The association also found that only 4% of firms have committed to programs that help integrate older workers into their talent pool.

Businesses that ignore this fast-growing workforce segment need to rethink their hiring process. With record-low unemployment numbers, many job openings across industries still need to be filled. But there is a mostly overlooked talent pool readily available — older Americans. Now more than ever, businesses must recognize that older workers bring much-needed experience, emotional intelligence and generational diversity to our workplaces.

Not convinced? Here are five key values older workers offer employers.

1. Problem-Solving abilities

Problem-solving is a critical skill that is attained over time. Through their lived experience in the workforce, older workers have accumulated a wealth of industry-specific knowledge that they can use to make informed decisions that help your business thrive. More importantly, they can impart this knowledge to younger colleagues, providing mentorship opportunities that benefit the mentors, mentees and the business as a whole.

The result is a more innovative team. A 2018 study by Cloverpop found that multigenerational teams with an age range of 25 years or more (from the youngest member to the oldest member) met or exceeded expectations 73% of the time, while those with a narrow range of less than 10 years did so only 35% of the time.

2. Reliability

Older workers are incredibly reliable. This usually means that they are known for punctuality and dependability. You can count on them to show up on time to meetings, meet strict deadlines and provide a consistency that may be missing from your workplace. Best of all, they set a positive example for the rest of the company.

3. Improved team productivity

It’s been reported that seven out of 10 workers in the United States enjoy working with people from other generations. Older workers appreciate the creativity of younger workers and younger workers appreciate the value of older workers’ experience and wisdom (AARP).

These benefits extend beyond workplace satisfaction, too. Significant profitability and performance gains have been reported for companies that have above-average diversity. For example, according to an AARP report, companies with above-average diversity in age, gender, nationality, career path, industry background and education on their management teams report innovation revenue that is 19% higher and profit margins that are 9% higher than companies with below-average diversity.

4. Adaptability

Older adults have seen technology rapidly change throughout their lifetime. Contrary to popular belief, older workers are adaptable and willing to learn and master new skills and technologies.

The fact is that they’ve had to adapt quickly to keep pace with the increasingly connected and technology-forward world. These experiences have taught them to effectively navigate change, a valuable asset for businesses across many industries.

5. Low turnover

Hiring and training new employees can cost a company extensive time, money and resources. To reduce turnovers and increase employee retention, businesses should look to hire older workers.

The U.S. Bureau of Labor Statistics reports that older workers ages 55-64 have a higher employee tenure rate than their younger colleagues. They typically stay with a company for nearly 10 years, more than three times the rate of workers ages 25-34.

So, while the assumption might be that an older applicant is ready to retire — that is likely not the case. Many older Americans are delaying retirement, unretiring or simply unable to retire and are prepared to stay on board for many years to come.

Age is a value-add, not a detriment

While working for the Center for Workforce Inclusion, I’ve seen firsthand the benefits of hiring older employees. Embracing age diversity in your workforce can only help to improve your company’s overall performance and workplace culture.

We often partner with businesses to help them tap into the talent pool of older workers to achieve successful business outcomes. We also work directly with older job seekers to overcome barriers to employment, develop in-demand skills and secure employment. To learn more about our work and how we can help, visit CenterForWorkforceInclusion.org.