Businesses that hire a mature-aged worker (over the age of 50) can now receive a $1000 bonus from the Australian government as part of a package of initiatives to increase mature-age participation in the workforce.
Minister for employment and participation, Kate Ellis, has launched the $1000 Experience+ Jobs Bonus as part of the government’s $55.3 million investment to help mature-age workers find and keep work.
“There are over 3.8 million mature-age Australians and many want to work, yet every week I hear stories from many mature-age jobseekers about their frustration in searching for work. Mature-aged workers can save their employers $2000 a year on average compared to their younger counterparts - they are more reliable, loyal, and provide a better return on investment.”
Despite this, Ellis says 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.
“Mature-age Australians represent a huge boost to our economy, they are loyal workers and they are hard workers but they are too often are faced with unnecessary barriers when looking for work.”
She says 2,500 bonuses of $1000 each are now available each financial year until 2016 and says any business can apply no matter how big or small.
“We want to make it as easy as possible to encourage businesses to take on mature-aged workers and they can apply for the $1000 Experience+ Jobs Bonus program online in just a few simple steps."
Employers are eligible if they provide on-going employment opportunities to job seekers aged 50 years and over and who are registered to look for work with a Job Services Australia provider.