Michael is a human resource consultant with Insperity. He specializes in team building, employee engagement and performance improvement.
Age 65 does not mean retirement for many Americans. Seniors are the fastest-growing segment of the American workforce, as the Bureau of Labor Statistics (BLS) first reported in 2017. In fact, in 2021, the BLS projected the number of individuals 75 and older in the workforce would grow 96.5% by 2030.
Employers should take notice of this large group of workers, who have much to offer in the workplace. Seniors bring decades of experience and expertise, a diverse perspective, fine-tuned skills and knowledge to share.
Experience And Expertise
In most cases, seniors have spent several decades in the workforce, learning and growing as employees and leaders. This experience is a wealth of skills and knowledge for employers to leverage in their hiring strategy. Even if seniors worked in another industry for a portion of their career, they gain a perspective over time that can help them see the bigger picture more clearly and contribute to their teams.
While older workers have valuable experience, employers should not make the mistake of thinking they are unable to learn new skills. In fact, seniors are willing and highly capable of learning new skills, as they build off their existing knowledge. According to a 2021 AARP survey, 94% of older workers are interested in additional job skills and training with employer support.
The AARP survey also demonstrates that seniors have a genuine interest in returning to the workforce, for more than financial reasons. Some leaders might believe that seniors, especially those over 75, return to work solely because they need to earn additional income. As may be the case for other generations, compensation is a motivating factor. However, seniors want to learn, and many return to the workforce willingly.
Moreover, the AARP survey reflects seniors’ investment in learning and development. Though some stereotypes inaccurately portray older workers as stuck in the past, many strive to acquire new skills just like their younger colleagues. Businesses can take advantage of seniors’ desire to learn by offering them learning and development programs, especially for technical skills.
Diversity Of Perspective
Age diversity is merely one of many categories of diversity in thought that can benefit teams. Because older workers can face age discrimination in hiring, their ideas and demographic can sometimes be overlooked. However, hiring older workers can have immense benefits to corporate culture and innovation.
By demonstrating the organization’s respect for people of all ages, hiring seniors can contribute to a positive and inclusive workplace. Social media trends occasionally depict older people as out of touch. Yet seniors have vast stores of knowledge to offer and skills to teach, just as Gen-Z can share their own skills in exchange.
Seniors also approach decision-making and creativity with their own unique life experience, increasing the range of perspectives in the office and fostering innovation. When younger workers learn from their older colleagues, and vice versa, bridges are built and stereotypes are broken down for a thriving intergenerational workforce.
Knowledge Transfer
Another benefit of seniors’ vast experience is knowledge transfer. With the rapid evolution of technology and remote work, it is possible some young professionals may not develop soft skills like face-to-face communication and conflict management. For instance, the novel coronavirus pandemic meant many first-time employees never stepped foot in an office. These young workers did not necessarily receive training on how to behave professionally in a corporate setting. As a result, some new hires may not have a strong grasp of office norms, like dress code, language and punctuality.
Having spent much of their careers in a traditional office setting, seniors can lead by example to show interns and new hires what is appropriate in an office environment. Without a knowledgeable mentor, young professionals often take cues from their peers, which can perpetuate misunderstandings of corporate culture. A senior employee may have the experience to deftly navigate complex office dynamics and model these soft skills for new colleagues.
Knowledge transfer from older to younger workers also improves organizational resilience. In a business climate that can change overnight, seniors can offer lessons learned from their previous experience to help organizations navigate changing times.
For example, older workers may be useful in the knowledge transfer of stress management techniques. According to a 2022 Gallup survey, 68% of Gen-Z and younger Millennials reported feeling stress at work, compared with 40% of Baby Boomers. Every generation faces unique challenges, yet Baby Boomers and seniors may embrace stress management techniques younger generations have not yet considered. Younger workers and the organization can gain resiliency when older workers share these skills.
In a business sense, seniors’ lived experience of the past can further help young leaders navigate unfamiliar territory. The pandemic was unprecedented for every generation, but older workers may have extensive experience with unexpected challenges due to their decades in the workforce. This lived experience can grant them insights into how organizations can plan for resiliency, and sharing these insights can inform and support young leaders in developing solutions.
Seniors have an invaluable role to play in a diverse and inclusive workplace. They can also address the labor shortage numerous organizations are facing. By offering decades of work experience and knowledge, seniors play a critical role in supporting organization culture, resiliency and success.
Forbes Coaches Council is an invitation-only community for leading business and career coaches. Do I qualify?
Read the full article here