Bonus cash for hiring a mature-aged worker

Bonus cash for hiring a mature-aged worker | Insurance Business

Bonus cash for hiring a mature-aged worker

Organisations who employ a mature-aged worker may be eligible to receive a $1,000 bonus from the Federal Government as part of a new package of initiatives to increase mature-age participation in the workforce.

The minister for employment and participation, Kate Ellis launched the $1,000 Experience+ Jobs Bonus as part of the government’s plan to increase the number of mature-age workers in the workforce, as well as to address negative attitudes towards mature-age people.

“Mature-aged workers can save their employers $2,000 a year on average compared to their younger counterparts - they are more reliable, loyal, and provide a better return on investment," Ellis said, adding people over the age of 50 have a wealth of experience, yet are often overlooked.

Mature-aged workers are out of work twice as long as their younger counterparts with the average duration of unemployment for people 55 and over standing at 70 weeks.

Some 2,500 Jobs Bonuses of $1,000 each are now available each financial year until 2016, and any business can apply no matter how big or small. Employers are eligible if they provide ongoing employment opportunities to job seekers aged 50 years and over and who are registered to look for work with a Job Services Australia provider.