Posted on : 2023-10-13 03:25:14
Article : Good evening Friday Management TASK 263- Being exceptional at what you do makes you a good hire at any age. It doesn’t matter what age you are, the only way to be in demand is to excel at what you do.
It is learnt that in the U.S, job vacancies have outnumbered job applicants since 2018. This is largely a result of baby boomers reaching retirement at a rate faster than millennials are able to step into their place. To continue to grow economy, companies need to act by bringing older people back to work and giving them meaningful, important jobs. This may seem simple, but age bias is a serious hurdle. Many companies prioritize hiring cheaper, younger workers who they believe are more valuable than someone more expensive with more expertise. Contrary to popular belief, however, older, more tenured people are more successful entrepreneurs. Those over the age of 40 are three times more likely to create successful companies as a result of their patient, collaborative natures, and their lack of have a “need to prove myself” attitude. Companies that want to see economy flourish need to take action and give them more opportunities.
There’s a lot of talk about gender bias, racial bias, and culture bias at work, and each are important for many reasons. But perhaps one of the biggest and most problematic types of bias we face is the bias of age: we often evaluate people based on their age, and this is now becoming a major challenge in the workplace. Is age a competitive advantage or competitive disadvantage in your organization?” The answer probably won’t surprise you. Over two-thirds of the companies considered older age a competitive disadvantage. In other words, if you are older, you are likely to be considered less capable, less able to adapt, or less willing to roll up your sleeves and do something new than your younger peers.
Many people, particularly those who have enjoyed long and meaningful careers, do like to work. In the wise words of Stephen Hawking: “Work gives you meaning and purpose, and life is empty without it.” It represents an opportunity to give value to others and the community; it gives you a network of friends and associates to be with; and it gives you something to do with your intellectual and physical energy. Why would we want to retire if we love our work?
Countless individuals in their 60s and 70s are actively engaged with their careers, and certain to avoid retirement. At 89, Warren Buffett is still regarded as one of the most brilliant brains in the world of finance, and Charlie Munger, his righthand man, is 95. At 61, Madonna is the undisputed queen of pop. At 81, Jane Fonda is as prolific as ever in her careers as an actress and activist. In addition, the most important job in the U.S. goes to people who would generally be considered “too old” to be productive in most offices. Only two presidents ended their tenure under the age of 50 (and one of them was JFK). The other 43 were 50 or older, including 22 aged 60 or older. Contrary to popular belief, older, more tenured people are more successful entrepreneurs. Those over the age of 40 are three times more likely to create successful companies as a result of their patient, collaborative natures, and their lack of a “need to prove myself” attitude that tends to accompany youth.
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 the labor market.
Share your such experiences in your career time on age diversity and organisation outlook for growth of economy, this offers an ample opportunity for career aspirants as well as organisations to discuss and debate on such processes. We would discuss pertinent case on old age and career continuation in our Good Morning Monday management solution for our TASK 263, that will be published on 16th Oct 2023.
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