The Age Advantage: Bridging the Talent Gap
It’s spooky season, but there are few dates more important than Halloween for us this month. October raises awareness around ageing: the 1st of October is the International Day of Older Persons, and today is Ageism Awareness Day, with October being World Menopause Awareness Month as designated by World Health Organization. With that in mind, in this edition of WorkBeat, we shed light on how age is not “just a number” but has influence on a candidate’s chances of getting hired and what businesses can do to address age bias and use the age advantage. We’ll mix in some other research too; including a deep dive into Taylor Swift’s economic impact, sentient workplaces and “knowledge athletes”. Let’s get started!?
Roughly half of recruiters admit that candidates over 55 (Germany) or 57 (UK) years of age might be considered “too old” for a job. This stat alone hints at the wealth of potential which is lost to age bias. But it’s not the whole story. We took a detailed look at older workers – their needs, their numbers and their contributions. While older workers have a lot to offer, they are sometimes being limited by bias in recruiters and the world of work writ large. Take a look at our study on ageism to learn how you can utilize their full potential: Either in English or German .?
Is there anything Taylor Swift can’t do? Well, surely even a superstar like Taylor can’t significantly impact economies…or can she? Our labor market economist Julius Probst zoomed in on the economic impact of Taylor’s Eras Tour – to see if all the money the Swifties bring with them would move the needle and make a real difference. Spoiler: It certainly may for smaller cities like Cardiff or Gelsen-/Swiftkirchen. Read the article to find out more!?
Unpacking ageism in tech??
Recent federal data reveals a younger US tech workforce, with an increase in employees under 25 and a decline in those over 40. Nearly 41% of tech workers are aged 25 to 39, highlighting a shift toward a younger demographic. However, as the demand for talent in STEM fields (science, technology, engineering, and mathematics) continues to rise, companies that embrace age diversity and remain open to all age groups gain a clear competitive advantage. Research shows that age-inclusive practices boost employee satisfaction and productivity, underscoring the importance of valuing experience alongside youth in recruitment strategies. Embracing an intergenerational workforce is essential for fostering a positive and inclusive workplace culture.?
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Knowledge athletes are driving creativity to new heights????
As AI handles repetitive tasks, creativity becomes the new competitive edge. But creativity, like a muscle, needs practice. Enter the "knowledge athlete"—individuals who optimize their mental and physical states to boost creativity and problem-solving. Using biohacking techniques like cognitive supplements and cold showers, they fine-tune their routines to reach flow states, positioning themselves as key players in the evolving workplace. This is a call to embrace new habits and rethink your daily routines, making creativity and personal growth a priority to stay ahead.?
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The conscious office of tomorrow: Sentient workplaces??
Ever wondered what your future workplace might look like? Sentient workplaces are emerging as a major trend, blending architecture with smart technology to create environments that actively support employee well-being. These spaces monitor air quality, circadian rhythms, and even productivity, adjusting in real-time to optimize comfort and performance. By integrating wearables and IoT sensors, they adapt lighting, noise, and temperature based on employee needs. The goal is to boost wellness, productivity, and job satisfaction—benefiting both workers and companies. As this tech evolves, we’ll see more employee-centric spaces that prioritize health, innovation, and collaboration.?
Our study shows that age bias in companies is very prominent with recruiters deeming candidates over the age of 55 (in Germany) as too old and with candidates over 50 being significantly unconfident in securing employment.?Especially now, with skilled workers becoming increasingly scarce, employers must actively recognize the value of this employee group.?It is crucial to gain a better understanding of what talent over 50 wants and needs in order to attract and retain them.??
This is why this year, The Stepstone Group launched the “10-over-50 program” in a pilot project. Colleagues over the age of 50 come together to work on various challenges with the goal of a) gaining a comprehensive understanding of their needs, and b) developing suitable and effective measures for being a more attractive employer for experienced employees.?
The Stepstone Group has a rather young workforce, but also harbors talent over the age of 50 with a rich experience. With our 10-over-50 initiative, we see the chance to become more age diverse and to gain a better understanding of this employee group. As a complement to our 10-under-30 program, both programs give us a full perspective on the needs of our employees and show us where we have potential for improvement as an employer. The fusion of proven experience and fresh ideas creates a dynamic atmosphere that drives us forward as a company at all levels and makes us fit for the future (#BetterTogether). Our vision is a corporate culture characterized by diversity, respect and cohesion that positions us successfully in a constantly changing market. We want to become a more attractive employer for experienced employees.
Thorsten Otte is Chief Financial Officer at The Stepstone Group and is the sponsor of the 10-over-50 program.??
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It’s Menopause Awareness Month! So, we’ve asked the Menopause Café charity with whom The Stepstone Group is collaborating, to shed some light on this stage in life. And they’ve kindly given us some recommendations on how employers can support their staff:?
More people experience menopause than pregnancy, yet it's rarely discussed, especially at work. Perimenopause, the years around menopause, can impact colleagues physically, emotionally, and cognitively. It’s essential to understand the basics, not just to be supportive but to make reasonable adjustments, much like we would for pregnancy or other conditions.?
While 20% of people experience few symptoms, and 60% have manageable ones, 1 in 5 suffer severe symptoms. For them, workplace accommodations can be the difference between staying in a job or leaving. Businesses wanting to retain experienced staff can support them through simple measures:?
The Menopause Cafe charity charity was founded by Rachel Weiss in 2017 in Scotland and aims to have “the whole world talking about the menopause”. At a Menopause Café people come together to drink tea, eat cake, and discuss menopause. Menopause Cafés are organized in various cities around the world but can also be organized by employers.?
“Those who hire older employees are not only doing something for their own productivity, but are also helping to break down prejudices and presenting themselves as an employer that focuses on and embraces diversity at all levels. In addition, older employees are not (yet) as competitive as other target groups on the labor market. They can also be approached in a very targeted manner. This is a strategic advantage for all recruiters who have already recognized the potential of older professionals.” – Dr. Irène Kilubi?
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“Many older workers are eager to continue working, but face significant barriers including age discrimination and the perception that they are ‘too old’ for available roles. While governments have raised retirement ages to extend working lives and reduce welfare costs, the benefits of an age-diverse workforce go beyond the economic. Good work benefits individuals, and an inclusive, multigenerational workforce could be a win-win for society. So why isn’t this potential being fully realised???
Stereotypes around older workers not only discourage employers from hiring but also undermine the confidence of older workers when applying. Ageism manifests directly, with recruiters viewing candidates over 57 as ‘too old’ [in the UK], and indirectly, as older jobseekers internalise these biases and refrain from applying for fear of rejection.” – Dr. Sarah Vickerstaff?
Dr. Irène Y. Kilubi holds is a multi-advisor and university lecturer, has worked for companies such as BMW, Deloitte and Siemens and works on topics such as JOINT GENERATIONS (age diversity and generational diversity) and corporate influencer strategies and community building. She has received several awards for her work in marketing and diversity, including being named one of Germany's Top 25 Future Makers by Business Insider.??
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Sarah Vickerstaff , Professor Emerita of Work and Employment at the University of Kent. Sarah is an internationally recognised sociologist and researcher into paid work in later life. In the last 20 years her research on older workers and retirement has been funded by research councils, charities and the UK Government. She is Fellow of the Gerontological Society of America (GSA).??