ASSIGNMENT

ENGINEERING MANAGEMENT EHSAN UR REHMAN CLASS NO 26 A REG NO 3328 SCETION

QUESTION 1: WHAT ARE THE BENEFITS THAT FIRMS CAN OBTAIN BY HIRING OLDER WORKERS? WHAT ARE THE POTENTIONAL PROBLEMSTHAT MIGHT BE EXPERIENCEDBY THE ORGANIZATION AND BY THE OLDER WORKERS .THEMSELVES :ANSWER

:BENEFITS
The benefits that firms get by hiring older workers can be linked to the experience that they bring with themselves to the firm. Being a part of the market for a long time gives a lot of experience. They know how the local market operates. They can offer huge help when it comes to the decision making and planning. They can also be a good trainers and guide for the youngsters that are new to this field within the organization thus affecting the future of the .organization as well

:PROBLEMS
:ORGANIZATION The problems that a firm might face by hiring the older workers are few but important as well. Older workers lack the passion and energy that young blood has. They might lack the creativity that a fast a firm needs in a fast growing market. They might not be able to keep up with the new requirements of the market. All these drawbacks will affect the firm badly and will not be able to .compete in the market :WORKERS Difficulty in fulfilling the fast growing requirements of the market .Difficulty in adopting to the new fast paced work environment In this age of modern techniques and methods older workers may find them lost .with no sense of direction

:QUESTION 2 HOW WOULD THE HIRING OF RETIREES AFFECT A COMPANY'S HUMAN RESOURCEMANAGEMENT? CONSIDER THE IMPACT ON RECRUITINGAND .SELECTING, TRAINING AND COMPENSATION :ANSWER When a firm recruits retirees the job market becomes more saturated. There are less opportunities for the young people. Retirees will also accept to work on low package deals. But due to the age and health factor of old people firm may have to recruit after little there is an advantage that by hiring retirees a firm can also reduce the expenses that they spend on the training of the youngsters as the retirees already know and are trained . they can also guide the youngsters within the firm or organization. They can work on low package and thus be a good .affect financially on the firm

:QUESTION 3 ONE EXPERT SUGGESTS THAT RETIREESBE TREATED AS CONTINGENT OR TEMPORARY WORKERS. WHAT WOULD BE ADVANTAGES AND DISADVANTAGES OF THIS APPROACHFOR THE ORGANIZATION AS COMPARED TO FULL TIME PERMANENT EMPLOYMENT? WHAT WOULD BE THE ADVANTAGES AND DISADVANTAGESOF THIS APPROACH FROM THE OLDER WORKERS POINT OF ?VIEW :ANSWER The retirees are treated as temporary workers. This approach leads an organization to offer little in return of a good work by the retiree. But It also has the drawback that temporary workers keep on coming and going and firm has to recruit after very little time. The passion of retiree may not be there for the firm as it's not his permanent job. So the firm will have a post with no passion creativity and all the time be ready to quit for a good offer. This will affect the firm as the hiring and quitting of temporary workers does not bring smoothness in operations of the organization. When it should be focusing on other projects it focuses on hiring some new workers for the vacancy that temporary workers left behind. If an employee is a permanent one then he will work hard and with

passion and creativity as his long term future is dependent upon the success of .the firm which cannot be found in temporary workers The older workers will be free whenever to leave for a better position or package deal. They can share their experience in a lot of firms that way. But everyone wants to be at calm in their field so the feeling of a good working environment in the firm will be missing. Changing the work environment every now and then will affect the performance of an experienced employee as well and thus results in .the exit of the employee