Age of experience: How employers can support often-overlooked talent

No one should have to work longer than they want to. But with people regularly living past 90, are we still thinking about retirement the right way?

Many older people don’t even like using the ‘R’ word. They’d much rather think of it as the next chapter.

Which aligns with the findings of a recent survey we conducted with Greenwald Research to understand how healthy Americans in their 60s and 70s think about work (if at all), and how employers could support (and tap into) this potential talent pool.

The key is in the ‘want.’ There are workers in their 60s and beyond who still have a lot to offer. We’ve identified two key ways employers can build a workforce that benefits from this age of experience.

An untapped talent pool

Two-thirds of the employers we surveyed say they face difficulties attracting and retaining experienced workers. A similar proportion say they face a tight labor market overall, and more than half say they’re losing mature, skilled and productive talent to both retirement and to competitors.

We see this as an opportunity to tap into an often-overlooked talent pool: older workers. 81% of employers believe it is at least somewhat advantageous to not only retain older workers past normal retirement age but also hire experienced workers away from competitors.

By identifying these candidates – both internal and external – employers can not only leverage their wealth of experience where it’s needed but also a strong work ethic and proven leadership abilities.

More than 8 in 10 say that those age 60+ have skills and knowledge that many younger workers have not yet acquired, and 6 in 10 say they tend to be more reliable than their younger counterparts.

Building a better workforce

Employers clearly see the value of older, experienced workers. But what motivates this talent pool? The answer is two-fold. Read our full report to understand what they value most.