A Harvard Business Review article puts forward a strong case for organizations hiring and engaging older workers as populations (and workforces) continue to age around the world. The authors argue: “If you can create an inclusive, fair, and meaningful experience for older employees, as well as younger ones, you’ll not only find your company becomes more innovative, engaging, and profitable over time, you will be benefiting society at large.”
With people living longer and fertility rates declining across the industrialized world, workforces are rapidly aging. By 2025, 25% of workers in the U.S. and the UK are expected to be over the age of 55, in what is now the fastest-growing cohort in most countries. With workforces aging, age bias is thought to be one of the most significant and problematic barriers to organizations adapting to this demographic trend and turning longevity into a competitive advantage. The authors recommend “to truly overcome age discrimination, and the damage it could bring to our global economy, companies need to take action.”
So, what can organizations do? The authors suggest offering flexible work opportunities, making age diversity and inclusivity a priority, hiring more older workers, tackling age bias, and giving jobs to older workers that leverage their expertise and experience.
For more tips on what you can do to get past age bias and turn this demographic shift into a competitive advantage, read the full article here.
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