In the last century there has been a substantial change in human beings: we live many more years. In 1950, life expectancy in the world was 47 years; in 2021 it was 73. According to ECLAC, in 2100 it is expected that in Latin America the population aged 60 or over will be comparable to that of Europe. Longevity presents economic, social and political opportunities and challenges. In the developed world, there is intense debate about the sustainability of retirement systems. Likewise, the “silver economy” or “silver economy” appears as a prominent segment for companies: the offer of products and services especially designed for older adults.
This question is also being thought about by human resources experts and researchers around the world. For senior citizen specialist Sara Zeff Geber, the inclusion of older adults in the workforce has a moral dimension: as the cost of living has increased, these people need income and unfortunately many organizations turn their backs on them. But it also highlights that older workers can provide many solutions to companies if some special measures are taken into account. The expert points out that these groups provide a lot of experience, and in many cases they can address issues with greater patience and empathy.
The incorporation of older adults is not the only aspect that companies must consider. Greater longevity in society has also altered the way retirements are projected. In an article for Harvard Business Review, Ken Dychtwald, Robert Morison and Katy Terveer have analyzed how social changes challenge the classic retirement model and its implicit assumption that the person retires completely and is no longer productive. These authors make some suggestions for how the practice of retreat could be improved. Some of the most important are these:
1. Gradual transition: older workers can gradually reduce their workload and hours. They can participate in specific projects or be part-time employees.
2. Knowledge Transfer: During the retirement process, these employees can interact with younger people to share what they have learned during their work experience.
3. Volunteering: older adults can also be involved in corporate social responsibility tasks, especially in volunteer tasks that involve interactions with the community, where they can play a very prominent role.
4. Support: during the withdrawal process, companies can provide; psychological, financial and social support. A good idea is the implementation of workshops for planning post-retirement life.
In the world there are already many successful cases of adaptation to people’s greater longevity. The Japanese government provides subsidies to companies that hire people over 60 years of age; Likewise, Japanese companies have collaborated with the Indian multinational Tata Consultancy Services on digital skills training programs for older adults, which considerably increases the employability of these groups. Sweden has also been a pioneering nation and has one of the world’s highest rates of over-55 employment, something it has achieved through policies such as continuous training and reskilling, and the adoption of shorter and more flexible hours by part of the companies. Finally, the American Association of Retired Persons in the United States is promoting very successful job retraining programs that focus on technology, health care and financial services.
Longevity not only redefines the challenges, but also the opportunities we face as a society. Incorporating older adults into the workforce and redesigning retirement processes are not only pragmatic or economic issues; They are a way to build a more inclusive society that values experience and encourages intergenerationality. Companies that know how to adapt their practices will not only contribute to the well-being of their employees, but will also be better positioned to face a future where talent, in all its forms and ages, will be the most valuable asset.
Associate Director of Glue Executive Search
Source: Ambito
I am Pierce Boyd, a driven and ambitious professional working in the news industry. I have been writing for 24 Hours Worlds for over five years, specializing in sports section coverage. During my tenure at the publication, I have built an impressive portfolio of articles that has earned me a reputation as an experienced journalist and content creator.
