HBR IdeaCast
Why Leaders Need to Value Their Retirement-Age Workforce
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.
27:00
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Quick takeaways
- Older workers are a valuable asset due to experience and skills, organizations need to adapt to retain them.
- Challenges faced by older workers include outdated perceptions and untapped potential in the job market.
Deep dives
The Shift in the Labor Force Dynamics
The podcast discusses a significant shift in the labor force dynamics, highlighting that the fastest-growing segment in the US labor force is people aged 65 and older. Contrary to common perceptions, older workers are portrayed as a valuable asset due to their experience and skills. There's a growing need for organizations to adapt to this demographic change to retain the talent and capabilities these older workers bring, emphasizing the importance of recognizing the value of this group.
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