#5 - Disposable Wisdom: Fighting The Over 50 Stereotype

As a manager in one of the largest divisions of a well-known fintech startup, finding the right talent for your demanding projects is a constant challenge. The job market is competitive, and you need individuals who are not only knowledgeable, but also driven, innovative, and capable of adapting to a fast-paced work environment.

During an interview for an important position, you met Mary, a seasoned professional with over 20 years of experience in the field. Mary's passion for her work and her skill set, experience, and cultural fit make her the ideal candidate for your team.

Excited to present Mary to HR, you send an email with her CV and a brief introduction, with the subject line: "She's the one!" You head to lunch, confident that the process will be straightforward. However, a call from Anna, the VP of People, changes everything. "She's too old Jim", Anna - a reputable HR executive in her mid fifties - tells you. "A younger candidate with fresh ideas and new perspectives would be a better fit. With the organization's average age growing, we need to lower it". She hangs-up! The phone call leaves you reeling. Your hand shakes as you lower the phone in fury, and your mind races with questions. In a job market where top talent is a precious commodity, Mary's seasoned professionalism and expertise was like a ray of sunshine. And now, just as suddenly, it's all been snatched away by a woman her own age.

Will you follow Anna's advice and play it safe, or will you take a chance and stand up for what you believe in? The answer will shape not only the future of your division, but also the trajectory of the entire company. Will you choose to embrace the value that comes with experience and diversity, or will you succumb to the pressure and opt for the perceived "safety" of going with the status-quo? In the end, it's your choice, and the consequences are significant.

"by 2026, it is projected that 30.2% of the workforce will be made up of workers aged 65 to 74"

A reader's suggestion inspired me to delve into the crucial topic of hiring workers over 50. As an under-40 professional with over 10 years of job stability, I may not have personal experience in this realm. However, being in a position where I constantly tackle people-related challenges in organizations, I felt compelled to explore this topic from the perspective of an employer. Despite my lack of personal experience, the idea has been occupying my thoughts, leading to numerous discussions, and it is my aim to share insights and perspectives on the subject in this article.

The first thing that comes to my mind when approaching this topic is the growing ageing and longer life expectancy of western populations. We're living more and better in quality. This is a positive trend, with many associated benefits for individuals, families, and societies as a whole, and as a result, people are working later in life and delaying retirement, resulting in a new wave of older workers entering and staying in the workforce for longer periods of time.?According to the U.S. Bureau of Labor Statistics, by 2026, it is projected that 30.2% of the workforce will be made up of workers aged 65 to 74, and 10.8% of workers will be aged 75 and older.

However, despite this growing demographic, there are still millions of jobs that remain unfilled. According to Statista, as of November 2022, there were 10.46 million job openings in the United States. The combination of these facts presents a unique opportunity for older adults, who have a wealth of experience and skills, to play a significant role in filling these positions. Whether they are looking to pivot to a new career or continue working in their current field, older workers have much to offer to the workforce. With their wealth of experience and knowledge, they can bring a unique perspective and valuable contributions to organizations. Additionally, older workers often have a strong work ethic, are reliable and have a proven track record of delivering results.

Doesn't it seem obvious that companies should be hiring more seniors to supply these hard to fill openings.

Well... It's not THAT simple. Despite the fact that older people can bring a wealth of experience, knowledge, and stability to the workforce, many over 50 workers face age discrimination in their job search. A recent study by the European Union found that only one in three workers over 50 feel valued at work, and one in four have experienced age discrimination in the workplace. According to a report by AARP, nearly two-thirds of older workers have faced ageism in their careers, with many feeling the need to hide their age or downplay their years of experience to avoid discrimination. This type of discrimination can take many forms, from subtle biases during the interview process to overt actions like limiting opportunities for older employees to advance in their careers. These negative attitudes and biases can not only harm the individuals facing discrimination, but also the companies and organizations that are missing out on the potential contributions of a talented and dedicated older workforce.

"By eliminating age discrimination in the hiring process, companies can gain access to a talented pool of experienced and knowledgeable individuals who bring a unique set of skills, perspectives, and life experiences to the table."

If companies keep ignoring the contributions of older workers and perpetuating age discrimination, they risk missing out on the vast pool of experienced and knowledgeable individuals who could bring a wealth of skills, insights, and perspectives to the table. Allowing this type of discrimination to persist sends a harmful message to older workers that they are no longer valued in the workplace, which can lead to decreased morale, productivity, and even high turnover rates. The continued existence of age discrimination in the hiring process can not only rob companies of valuable talent, but also harm the company's reputation and perceived ethics. This can have far-reaching consequences and compromise the long-term success of the organization, as seen in the increasing trend of cancel culture, as I recently wrote. Failure to acknowledge and eliminate such biases can result in negative public perception and put the company at risk.

By eliminating age discrimination in the hiring process, companies can gain access to a talented pool of experienced and knowledgeable individuals who bring a unique set of skills, perspectives, and life experiences to the table. These workers often bring with them a wealth of experience, having worked in their fields for many years, and have a deep understanding of the industry. In addition, many older workers are well-connected, having built relationships over the years with customers, suppliers, and other key stakeholders.

The 2022 data from the U.S. Bureau of Labor Statistics also highlights a marked difference in the commitment and reliability between older and younger workers. The evidence suggests that older workers tend to be more committed to their current employer, with 53% of employees aged 60 to 64 having spent a minimum of 10 years at the same company, compared to only 9% of workers aged 30 to 34. This has the potential to result in improved employee retention and decreased turnover costs, which can have a positive impact on a company's bottom line. Similarly, the wealth of experience and diverse perspectives that older workers bring to the table can be an asset to any organization. Their resilience and adaptability, forged through years of overcoming challenges in their careers, enables them to handle difficult situations and make sound decisions, ultimately contributing to improved outcomes for the organisation.

Given the numerous advantages of having older workers on board, organizations looking to leverage their potential would do well to consider the following 3 strategies for attracting and retaining these valuable employees:

1. Promote diversity and inclusiveness: By creating a diverse and inclusive workplace, companies can demonstrate their commitment to valuing all employees, regardless of age. This can help reduce age discrimination and promote a positive work environment.
2. Provide opportunities for skill development and growth: Older workers bring a wealth of experience and knowledge to the table. By providing opportunities for training, professional development, and career advancement, companies can keep older workers engaged and motivated.
3. Foster a positive company culture: Older workers may have different priorities and values than younger employees. By creating a positive company culture that values work-life balance, fairness, and respect, companies can attract and retain older workers who are looking for a supportive and inclusive work environment.

Integrating these strategies can help companies maximize the potential of older workers and create a dynamic, intergenerational workforce that benefits both employees and the organization as a whole.

Extra: Tips for 50+ Workers Re-Entering the Job Market

Despite the slow, but growing recognition of the value older workers bring to the workplace, some companies are taking steps to eliminate age discrimination and create a welcoming environment for older employees. However, older workers who are looking to make a change in their careers can also take proactive steps to increase their chances of finding a job that aligns with their skills, interests, and goals. In light of this, here are 7 strategies for older workers looking for a job, that would be highly valued by discerning employers:

1. Work on your appearance: A professional appearance is crucial in making a favorable first impression. Invest in quality clothing appropriate for the job you're seeking and maintain impeccable grooming. Incorporating current fashion trends in your attire conveys adaptability and a willingness to embrace change, essential traits in today's rapidly changing business landscape. Be mindful of current fashion and consider seeking advice from younger professionals or industry experts to ensure your attire is professional and modern. This will position you as confident and in touch with the latest developments, making you valuable candidates to potential employers.
2. Defy the "overqualified" stereotype: Age discrimination can sometimes lead to the perception that older workers are "overqualified" for certain positions. To battle this, emphasize your flexibility and willingness to learn new skills. Show that you are committed to the job and excited about the opportunity to grow and contribute to the company. Emphasize your experience and the value you can bring to the role.
3. Embrace LinkedIn: LinkedIn is a powerful tool for job seekers. Make sure your profile is up-to-date and highlights your skills, experience, and professional network. Use the platform to connect with recruiters, industry professionals, and potential employers and read their posts and shares. Consider writing articles or posts that showcase your expertise in your field.
4. Show your tech-savvy: Demonstrating proficiency in technology is critical in today's job market. It is important for older workers looking to make a successful transition to continuously improve their tech skills. One way to do this is through online learning platforms such as Coursera and Udemy , which offer opportunities to enhance your technical proficiency.
5. Polish your resume: Make sure your resume is tailored to the job you're applying for and emphasizes your achievements and accomplishments. Highlight your skills and experience, and provide concrete examples of your successes in previous roles. Make sure the formatting is professional and easy to read.
6. Position yourself as a mentor: Older workers often have extensive experience and can bring valuable leadership skills to the table. Highlight your experience as a mentor and emphasize your ability to provide guidance and support to others. Show that you are a team player who is committed to helping others succeed, and that you have the skills and experience to lead and motivate others.
7. Research: Conducting comprehensive research on potential employers and industry trends can be highly beneficial. Staying up-to-date on the latest developments and news surrounding target companies and industries can demonstrate a strong level of market awareness and motivation. This can further position an individual as a knowledgeable and driven candidate in the eyes of employers.

By incorporating these strategies, older workers can increase their chances of finding a job that aligns with their skills, interests, and goals. Emphasizing your value and the unique skills and experience you bring to the table will help you stand out in a competitive job market.

As we reach the conclusion of our examination of the intricacies of hiring workers over the age of 50, we are reminded of the story of the manager who had the opportunity to make a decision that could shape the future of his division, and perhaps even the entire company. The manager was faced with the choice of following the advice of Anna - herself a 50+ VP of People - to hire someone younger, or taking a chance and embracing the value that comes with experience and diversity.

But this story is not just about one manager or one company - it is a reflection of a broader trend and a decision that faces many businesses today. The truth is, hiring workers over the age of 50 is not without its challenges, but it also offers significant benefits. The knowledge and experience that comes with age is invaluable, and cannot be replicated by youth alone.

So, what will you choose?

As a reader, you have the unique opportunity to reflect on your own beliefs and values, and to consider what kind of leader you want to be. The decision you make will have consequences, but it will also have the power to bring positive change and drive success. So, we challenge you to think deeply and make a choice that aligns with your principles and values, knowing that the future is in your hands.

Thank you for reading this edition of "Thoughts of a Simple Man". If you enjoyed it, please consider subscribing, commenting and sharing with whoever needs to read it. I always appreciate feedback and ideas for future topics. If you have any thoughts or just want to say "Hi", please do so. I welcome the opportunity to engage in meaningful dialogue and discussion.