The Untapped Potential of Mature Talent: Making the Business Case for an Aging Workforce, by Jonathan H. Westover PhD

Abstract: This article argues that organizations should embrace hiring and retaining older workers due to the many benefits they provide. It dispels common myths that skills and abilities necessarily decline with age by reviewing research showing cognitive abilities remain strong into one's 60s and experience can offset physical declines. The article then presents five key advantages of older workers: they excel at soft skills like leadership and problem-solving; have lower turnover rates which save on training costs; can mentor younger employees and transfer institutional knowledge; bring diversity of perspectives that fuels innovation; and through experience, are able to offset potential physical job limitations. Industry examples from sectors like pharmaceuticals, consumer goods, consulting and retail are given. Overall, the article makes the case that an age-diverse workforce maximizes talent if organizations adopt policies like flexible work arrangements, ongoing skills training, leadership promoting inclusion, and fair performance reviews.