14 Smart Strategies To Prepare Your Company For An Aging Workforce

Linda ReyesBlogging, Forbes Coaches Counsel

Today’s medical advances are adding years to our lives, and that’s an ongoing achievement worth celebrating. However, with higher life expectancy comes later retirement. While many employers have been busy focusing on millennial and Gen Z newcomers, this trend is a reminder to pay attention to your baby boomers and their continuing careers, too.

What can your company do to get ready for longer tenures and a larger population of older workers? Fourteen members of Forbes Coaches Council identified ways to prepare for this shift in the business world.

Members discuss ways to prepare for employees to remain in the workforce longer.ALL PHOTOS COURTESY OF FORBES COUNCILS MEMBERS.

1. Cultivate Adaptive Thinking

As employees stay in the workforce and with companies for longer spans, it is important to put practices in place to keep them from being stuck in outmoded mindsets. Encourage and cultivate “beginner’s mind” among teams so that, as employees work more years, they stay fresh, vibrant and bringing their very best to the workplace. – Billy WilliamsArchegos

2. Hire More Seasoned Professionals

As people are retiring later, employers should take the opportunity to hire these seasoned professionals. They’ve been around and have lots of wisdom to share. While they might feel not as up-to-date with technology as their younger counterparts, they offer a strong mix of experience, skill and lessons learned to help balance out the team. They are a great asset to any company. – Erin KennedyProfessional Resume Services, Inc.

3. Offer Sabbaticals

People will stop waiting for the retirement to rest and enjoy life outside of work. More and more people take mini-retirements throughout their careers. By including this option in your perks, you will immediately differentiate yourself from your competitors and attract great talent. Also, you will benefit from a workforce that stays fresh, current and not burnt-out. – Caterina KostoulaThe Leaderpath

4. Create Expectations For All Age Groups

Prepare for an older workforce by creating expectations based on your values but not specifically as an age issue. In my conversations with older workers in career transition, their frustration often lies in what to expect and what not to expect from an employer. For example, if an employer states that every employee needs to be”learning agile,” then set this as a precedent for all workers. – John M. O’ConnorCareer Pro Inc.

5. Make Sure Your Company Culture Values Experience

Given the trajectory of wages versus cost, the current workforce will work for much longer than their predecessors. There was once something to be said for experience; however, ideas and the pace at which they are conceived seem to be a driver for decisions despite experience. To prepare for aging workers, businesses must ensure that their cultures value experience. – India Gary-MartinLeadership For Life

6. Offer Emotional Intelligence Training

It’s a blessing that experienced, knowledgable and skilled workers will remain available. To help diverse employees function better together, there’s value in offering emotional intelligence workshops and coaching. Organizations are often great at hard skills training, but the future will require deeper levels of understanding and social connectedness to manage unparalleled societal change. – Michael S. SeaverSeaver Consulting, LLC

7. Get To Know Each Team Member’s Personal Goals

As leaders, it’s integral to understand the personal goals of each of our employees to better lead and coach them. There are definite differences between millennials, Gen Xers and baby boomers, so we can’tassume they are all the same. By implementing certain tools, setting goals and having monthly development conversations, managers can better understand and coach each employee. – Aaron LevyRaise The Bar

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