More Americans are working past age 65—and that’s good news for employers
Once upon a time, the trajectory of a working life was clear: You put in decades at a company, hoping to methodically work your way up the ranks until you hit the age of 65, when they gave you a gold watch and a pat on the back and you rode off into the sunset.
Well, maybe it was never quite that way, but that was the expectation of many workers and even a lot of employers.
Today, there are five generations working side by side in the workplace, including boomers and Gen Xers. More Americans will turn 65 in 2024 than at any time in history and more of them are choosing to keep working. In fact, one in five people 65 or older in the U.S. are in the workforce, more than double the number from 35 years ago, according to the Pew Research Center.
People change jobs—even careers—so frequently that few pursue a linear path in any one place. For employees, this can mean a good amount of flexibility and the promise of a longer, more varied career.
For employers, it means coming to a better understanding of the value that older workers can bring to an organization. With a record number of employees entering their fifth, sixth, even seventh decade of work, companies that can figure out the advantages that these employees provide will have a leg up when it comes to building smarter, more nimble and more effective teams.
Here are some things to keep in mind when thinking about how older employees can improve your workplace:
'Soft skills' are anything but soft
With more diversity in age and background in workplaces, the “soft skills” of managing people and relationships are crucial. As offices continue to negotiate a complex set of hybrid, remote, and in-person arrangements, the ability to communicate with colleagues and understand their best ways of working has never been more important.
People who are just starting out in their careers, notably members of Gen Z, may have lost up to two years of traditional onboarding, networking, and relationship-building because of the pandemic.
Those with decades of experience under their belts are often best positioned to help manage and oversee the important human element to ensuring harmonious and productive teams.
Adaptability is more important than ever
New technologies like AI are transforming the way people perform their jobs, making it necessary for everyone to learn unfamiliar skills. People once spoke of “digital natives” having an advantage when it comes to certain types of tech, but no one is an AI native.
Whether you’re 22 or 72, the speed with which AI has entered our lives means we’re all being forced to adapt. Older workers today have had to become expert adapters—to the personal computer in the '80s, the internet in the '90s, and the rise of social media in the past 20 years. They have faced an unprecedented and unrelenting demand to embrace the new.
AI may prove to be one of the great generational level-setters.
Never stop recruiting
People are staying in the workforce longer but they’re not necessarily staying at the same place. Many employers still harbor biases toward older workers and cut their career paths short as they approach 60.
This can be a gift to an employer not hampered by the tunnel vision of ageism. There is talent on the marketplace in the form of workers over 50, over 60, and beyond. Go find them.
As people enter different life stages, they are looking for different things out of their careers. Their children grow up and move out; they sell a home and move to a new place; they get divorced and remarry.
People over 60 may be open to a range of career options even broader than when they were younger. That openness, combined with their experience, can give employers great options when it comes to maximizing talent throughout their organization.
Bottom line
The workforce is more multigenerational than ever, and employers who seize on the opportunities created by this new reality will benefit. Those willing to embrace the value that older workers provide will have a competitive advantage.
Martha Boudreau is the chief marketing and communications officer at AARP.
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