The future of work is here
By Jo Ann Jenkins
A multigenerational workforce will shape the workplace of the future
The COVID-19 pandemic has forced us into a grand experiment on the future of work, pushing practices on telework and flexible work forward with unexpected urgency. At the same time, as people live longer and healthier lives, they’re also working longer, giving both employers and employees of all ages the opportunity to reimagine what it means to earn and learn over a lifetime.
At AARP, we see these converging trends of automation and aging as a win-win for business and older workers. Workers over 50 offer important skills that can’t be automated and age-diverse workforces are better at problem solving. Multi-generational teams also perform better and help build a stronger pipeline of talent by providing continuity, stability and retention of intellectual capital.
Each generation has different ways of working and putting their skills to use. Older workers can bring institutional knowledge and perspective, social maturity and stability and can pass on critical knowledge or business relationships to younger workers. Younger workers can bring a more collaborative mindset and can help older workers become more digitally literate. All of these skills can be shared between generations through mentoring and reverse mentoring, which has the power to boost morale and productivity.
An age-diverse labor force also leads to better performance. According to a study by AARP and AON Hewitt, the 50 segment of the workforce continues to be the most engaged age cohort across all generations. They demonstrate a level of emotional and intellectual involvement that motivates employees to do their best work and contribute to an organization’s success. It only takes a five percent increase in engagement to achieve three percent incremental revenue growth.
A multigenerational workforce benefits the global economy, as well. According to the Organization for Economic Cooperation and Development (OECD), giving workers— especially older workers—the best opportunities to work would raise gross domestic product (GDP) per capita across the OECD by 19% over the next 30 years, which shows the value of full labor force participation on both workers and the economy.
The good news for older workers is that many employers are now beginning to see the value of a multigenerational workforce. AARP recently released a new survey which found that 83% of global business leaders recognize that these types of workforces are key to growth and long-term success of their companies. The survey of nearly 6,000 employers in 36 countries was conducted in the fall of 2019 and the spring of 2020. More than 70% of the survey data was collected during the pandemic, a time when millions of older workers in the U.S. and elsewhere are unemployed, furloughed or facing uncertainty in their careers.
Research shows that age-diverse workforces also have a positive effect on employee engagement, productivity and the bottom line. It is heartening to see that business leaders around the world recognize this value, even as we’ve been concerned the pandemic could fuel ageism.
Even though over half (53%) of the employers surveyed do not yet include age as a factor in their company’s diversity and inclusion policies, the survey found that:
- 70% favor taking steps to promote unbiased recruitment practices;
- Three in four (74%) would provide training and lifelong learning opportunities for older employees;
- Two in three (68%) would purposefully design mixed-aged teams to leverage the advantages that both younger and older employees bring to the table; and
- Over half (54%) are providing more flexible work arrangements, including teleworking
Not only do multigenerational workforces make sense from a business perspective, they also make sense from a human resources standpoint. Seven out of 10 workers in the United States enjoy working with people from other generations. Older workers appreciate the creativity of younger workers and younger workers appreciate the value of older workers’ experience and wisdom.
AARP is committed to partnering with both employers and older workers to build, support and sustain an age-diverse workforce—and we believe that commitment begins within our own organization.
That’s why, about four years ago, we undertook a total renovation of our national office. We redesigned it to foster a more interactive, collaborative and mobile workforce and to reflect AARP’s commitment to health and wellness with increased exposure to natural light and new fitness and wellness facilities. We added additional conference and meeting spaces and incorporated easy reconfiguration of spaces to accommodate changing needs. We designed it to be flexible.
At the same time, we initiated an electronics upgrade. We refreshed our technology environment including laptops and tablets, meeting and event area equipment and collaboration tools. The idea was to give our employees the capability to work from anywhere in a more collaborative environment. We realized the benefits of this when the COVID-19 pandemic forced us to close our offices and have people work from home. We made the transition without missing a beat.
As we work to build on the strengths each generation brings to the workplace (e.g., mentoring and reverse mentoring programs), we also recognize that different generations often are interested in similar benefits. For example, older workers may be particularly interested in workplace flexibility, a program that younger workers also value greatly. Examples of programs we’ve instituted at AARP include:
- Flexible scheduling
- Phased retirement program
- Caregiving leave (in addition to sick leave and vacation)
- Paid time off to volunteer
- Resources for managing cancer at work
- Training programs
- Employee assistance programs
All of these internal initiatives contribute to our ability to advocate for a more age diverse workforce. In 2019, we joined with OECD and the World Economic Forum (WEF) to establish a learning collaborative called “Living, Learning and Earning Longer,” which was designed to identify standards, policies and practices that reflect an age-diverse and inclusive workforce.
Additionally, through our Employer Pledge Program (EPP), AARP works with companies to help them understand the value of older, experienced workers. More than 1,000 employers have signed our pledge publicly affirming that they are committed to hiring based on ability regardless of age and AARP’s job board lists job openings from companies that have taken pledge.
At AARP, we are committed to helping employers realize the value of an age-diverse and inclusive workforce and we will continue to work with them to help ensure that people over 50 have the opportunity to work as long as they need or want to—because we believe they should have that chance.
Learn more about how AARP is devoted to helping adults over 50 remain engaged in the workforce.
