In a recent community assessment it was determined that Cheyenne has an aging workforce.
Does it matter to you and me? Is anyone working on a solution? How do employers respond to the aging workforce in Cheyenne? These were just a few of the questions that we discussed at a round table discussion a week ago at the Boys and Girls Club. The discussion was led by Penny Fletcher, HR Manager for Little America and hosted by the Department of Workforce Services and Society of Human Resource Management. My thanks to Denise Rodriquez with Department of Workforce Services for inviting me! I enjoyed meeting many new friends.
Let’s dive into those questions!
Does it matter to you and me? If you reside in the community, then it most certainly matters to you. Knowing the composition of the community population is important. It matters to the housing market because it determines what our clientele makeup will be, what amenities the individuals will be seeking in a home, and what neighborhoods are in-demand.
Is anyone working on a solution? Overall the feeling was positive during the roundtable and we looked at it from a perspective of how to train the incoming generations to do the jobs that those before them have been doing for years. We discussed the need to focus on succession planning in our companies. Cheyenne is a popular place for retirees because we have a low tax environment. Your hard earned money goes much further, so why not Cheyenne? A solution for having an aging workforce is really just focusing on succession and getting long-standing businesses in the area to continue with a next-generation mindset, instead of closure. With that in mind, businesses could actually capitalize on more seniors living in the community. This means they have more leisure time, so hobby-businesses could be a viable startup to cater to this market, or focus on community amenities which would be of interest to that demographic.
How do employers respond to the aging workforce in Cheyenne? While it is important for businesses to have longevity with their employees, it is also important to bring in new talent and “pass the baton.” Cross-training is an easy way to begin and naturally identify leaders, future managers and perhaps owners. Additionally, having an aging workforce can be a positive aspect for employers. In some scenarios individuals are retiring but want to stay active and working with a more flexible schedule. Businesses can benefit as a result by having part-time employees with years of expertise to help elevate the business. These individuals even pick-up side hustles like driving for Uber, being nannies and many other in-demand convenient flexible gigs, all of which are beneficial to the community.
This overall discussion is a good one to have because it expands our knowledge of our local demographics, provides us insight on how to plan, and allows us to strive for excellence as business professionals and businesses as a whole. In our office we even have a wide variety of ages and it is a joy working together! Success is not determined by age but by drive, determination, and focus in the qualities that bond our people together. Ultimately RE/MAX Capitol Properties is proud to be a part of this community.