Talent Management of the over 50's

 

Organisations all over the developed world seem to becoming alert to the effect of the ageing population at work. In the next 20-30 years the balance of generations in the workplace will make a seismic shift.

There will be far more over 50’s than there has ever been. For more information on this: http://brightbrainforwisdom.blogspot.co.nz/2011/01/ageing-population-opportunity.html  I am keen that this situation should be seen as an opportunity to engage and develop wisdom (definition of wisdom below) as much as a problem of dealing with ageing

The impact of this ageing trend has been overpowered in the past few years by the Global Financial crisis and the resulting economic instability. A combination of restructuring, layoffs and less money spent on people development has resulted in the irony of an abundance of people wanting to work but a perceived shortage of ‘talent’ available to organisations.

It looks to me as if the youngest and the oldest are finding it difficult to get employment – the shortage is people in their 30’s. In the meantime, recent news is that the generation born after the year 2000 are set to live even longer; apparently 50% will live to be over 100. So the effects of the Baby-Boomer bulge will not move through and disappear as predicted – this situation could be with us indefinitely because there will always be more people over 50 and proportionately fewer in their 30’s.

Interestingly, those over 50 who are in organisations and at a senior level seem to be reasonably safe. Also, those who are at executive level and choose to (or are asked to) leave usually have no problem finding work as directors on boards. It is employees at middle levels of the organisation and below that struggle to find employment at normal retirement age. Similarly, private companies are often owned and managed by people who are over 50 and these people continue to work as long as they like.

I see some interesting questions for organisations:

• Could developing a good internal ‘pipeline’ of talent contribute?

• Could a development programme build this pipeline as an age related journey - especially building wisdom for future roles?

• How can employees be given worthwhile roles that suit their experience and use their wisdom?

• How can young and elder work together to give the young work experience and the elder a wise source of judgement?

• Some elders will lose their ‘edge’. How should we deal with this situation to be fair to the individual and the organisation?

• Do organisations have a responsibility to assist employees to develop a career over 50 – even if it isn’t with them?

• How can we avoid labelling people as old or young and build cultures where an elder is regarded with respect and a younger person with excitement?

• How could blended learning be used effectively to develop wisdom throughout people’s lives?

There are many more questions but I think that we shouldn’t simply see this situation as a problem; but we should also view it as an opportunity for organisations to develop collective wisdom. This would benefit everyone through:

1. Intergenerational engagement at work

2. Extraordinary performance through combined wisdom and creativity

3. Organisations becoming preferred employers.

The Wiser Society group is starting a project to consider this issue because we believe that answering these and other questions will lead to a wiser society through more successful organisations and more engaged individuals. If you have a question or an answer, please share it with us. This is a Global view from a New Zealand perspective – what are the perspectives from other countries? Please comment.

N.B. the definition of wisdom used here is ‘the ability to instinctively know how to do the right thing in the situation for the right reasons’

or I as often refer to it - common sense with an ethical foundation.