Mature age employees (50 years and older) are the fastest growing age group in the Australian workforce, which is no surprise given Australia’s aging population is growing fast. 

Over 15% of Australians will be over 65 by 2026, and 25% are predicted to be over 65 by 2050. For context, only 8% of the population was over 65 at the start of the 1970s. This swing is partly due to the baby boom of the 1950s and 1960s and fewer Australians having kids. 

But it’s not all doom and gloom. Our aging population is underpinned by something positive: Australians live on average 30 years longer than they did a century ago.

So on average, we are healthier and happier than ever before! 

But it’s time we address the elephant in the boardroom. 

The changing makeup of our society will change your workforce. Organisations around you are already starting to view mature employees as a workforce asset as they have valuable soft skills and double the expertise.  

But ageist stereotypes still exist and only damage organisations with employees who espouse those views because they miss out on the talents of mature employees. Many organisations can’t afford to discriminate because it’s hard to find good talent these days. 

So, let’s take a look at why you should consider hiring mature employees and the implications.

Ageist stereotypes

Whether it’s intentional or not, we judge books by their cover. 

When it comes to recruitment, HR managers evaluate people based on age, which is now becoming a significant challenge for organisations. Several years ago, Harvard Business Review conducted some research in the US and asked over 10,000 companies whether age was a competitive advantage or a competitive disadvantage.

The answer probably won’t surprise you. Over two-thirds of the organisations surveyed considered age a competitive disadvantage. So back then, mature employees were considered less capable, less able to adapt and less willing to roll up their sleeves.

Now, that sentiment has shifted because we recognise the skills, reliability, strong work ethic, and experience mature employees bring to organisations. Mature employees also tend to gossip less, arrive at work on time, and keep their frustrations in check. Additionally, diversity is the name of the game for many organisations that rightfully strive for inclusivity.

Employers need employees, and you really don’t have the luxury to discriminate against anyone today, especially on the basis of age.  

So, what is your organisation set to gain from bringing on an aging workforce? And do you need to sell this to management?

That’s not surprising. The world's entire content, entertainment and publishing industry glorifies youth. Just look at the newest cosmetic surgery trends helping yummy mummies look 22 years old again.

Organisations wrongly think mature employees need more money and should be replaced by younger employees who can do the job more efficiently. Even Mark Zuckerberg once said, “younger people are smarter.” 

But the science says otherwise. Creativity, knowledge and skill—the main predictors of any job improve as we age. So when it comes to learning new things, there is just no age limit, and the more intellectually engaged people remain when they are older, the more they will contribute to your organisation. 

Benefits 

• Leverage earned experience. Mature employees will tackle problems differently. They have a thick backbone and know what it’s like to own resilience up front.   

• Higher retention rates. The grass is always greener, right? Well, that’s not always the case for younger employees trying to make their professional mark and tend to value loyalty less because mature employees are generally happier in roles and are less likely to jump ship.   
• Cognitive diversity. People are better together. So, the more employees you have from different backgrounds, ethnicities, and ages mean that your organisation will have more innovative perspectives on problems and creative outcomes to solutions. 

So, what are some actionable steps you can take to bring on mature employees?

• It all starts with the job advert. Ensure the job advert encourages mature people to apply by avoiding age-biased language such as “digital native” or “recent graduate”. Instead, use phrases like “experienced professional” or “professional with X years of experience.”
• Talk to younger managers. Remind them about implicit biases and ageist stereotypes they may hold. Show them how they can help mature employees and remind them that mature employees have biases of their own about young whipper snappers.
• Introduce ‘returnships’. An ‘internship’ contract is for experienced professionals who want to restart their career with significant work history. This will suit larger organisations like banks, supermarket chains, insurance companies etc.

Now what?

Many mature employees are engaged in their organisations and aren’t going anywhere. 

Brenda Palmer is a check-out chick at Coles and is 88. She started working when she was 35 years old. Warren Buffett, the renowned investor and finance guru is 93 years old and continues to lead and influence global investment strategies. Madonna, the queen of pop, is 66 years old and is at the top of her game. Morgan Freeman is 87 years old and continues to act in major films.

We all have a story in our head about how our lives may play out. These are usually grounded in ageist thinking, tending to show a simple arc where you grow up, get a job, get a partner, have children, grow old and die. There are far fewer stories about growing old and finding new loves, starting new jobs and having more adventures. However, that can change with HR leaders taking a leap and bringing on mature employees.