HBR IdeaCast Why Leaders Need to Value Their Retirement-Age Workforce
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Mar 19, 2024 
Ken Dychtwald, Cofounder and CEO of Age Wave, dives into the overlooked potential of retirement-age workers. He emphasizes that the aging workforce is crucial in addressing global labor shortages, especially in healthcare. Dychtwald discusses why many older employees wish to continue working, driven by both financial needs and the desire for social interaction. He also shares innovative strategies for engagement, like phased retirements and mentorship programs, urging companies to value the experience and skills of older individuals to thrive in a changing job market.
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Overlooked Talent Pool
- Companies struggle to fill job vacancies, especially in critical sectors like healthcare.
- Ironically, they often overlook older workers due to outdated perceptions of age and capability.
Motivations for Working Longer
- Older workers are increasingly interested in working longer due to increased life expectancy and financial needs.
- Socialization is another key motivator for continued employment.
The Business Case for Older Workers
- Recognize the talent and experience of older workers, especially amidst current worker shortages.
- Consider their higher emotional intelligence (EQ) and loyalty compared to younger workers.