By 2050, life expectancy is expected to surpass 100 years in some industrial countries. This new lifespan is triple the average length that has prevailed throughout most of human history.

Demographics Require Response
Businesses have been slow to plan for the aging of the population. Delay won’t be an option for much longer. As labour markets tighten, companies need to take prompt action to utilize this under-employed demographic and ultimately turn a bad situation into a competitive advantage. There are factors in and out of an organization’s control but overall, human resource leaders must be responsive to changes in their company, industry and society.

In the employment cycle there will always be people: entering the workforce (students, new Canadians); re-entering (back from early retirement, parental leave); and leaving (retirement).

Organizations face many key challenges in today’s market. Case in point: The first wave of baby boomers have started to retire. This reality has created a skills and knowledge gap in the workplace.

Bring Skilled Workers Back to Work
Some of these positions will be filled through new hires and promotions. Other jobs will simply be left vacant, leaving existing staff to assume additional responsibilities. But there’s another option: recruit and retain skilled and experienced workers. Other countries are at least a decade ahead of Canada in understanding and implementing strategies that address this issue.

Business practices also require prompt attention. It starts with changing how we view age. Older workers are often bypassed in favour of younger candidates during recruitment, often because of their age and misconceptions about age. But in economies where knowledge rules, the experience of older workers gains value.

Surpassing Stereotypes
We define experienced workers as people aged 45 and over. Many qualified and skilled people in this demographic lose their jobs or are being overlooked for positions because of stereotypes — those widespread presumptions that age equals decline which equals inability. Those presumptions are the fundamental basis of discrimination.

ThirdQuarter is changing the perception of workers over age 45. It starts with how we refer to people in this demographic. They are: experienced, mature, boomers, zoomers and seasoned. They are not: old, elderly or frail, and they do not like to be referred to as seniors.

Embrace Diversity to Walk the Talk
While there is much talk given to the power of age and experience, there continues to be a disconnect between the talk and the walk, especially in recruitment practices and organizational strategies. Somewhere along the way intentions do not match actions. Human resource leaders have the critical role of managing talent through recruitment and retention strategies. To be successful and survive in this ever-changing talent landscape, human resource strategies need to adapt with the times.

It is not about hiring one group over another; it is about creating and embracing diversity, both in age and experience. It is about finding the right fit for the position, employee and organization.

Responding affirmatively and effectively to longer lifespans will require changes in business practices and public policies. Allowing people more freedom of choice regarding retirement timing is a good start.

ThirdQuarter is a Canadian non-profit organization that specializes in recruitment services for job seekers aged 45 and older. This article was extracted from their recently published comprehensive handbook, A Guide for Human Resource Professionals: The Business Case to Hire Experience.