The global workforce is ageing, and that’s a good thing. As traditional retirement ages approach for many, a significant portion of experienced professionals, or WisGen* (those over 50 with a lifetime of experience) are choosing to continue working. This shift is not only reshaping the concept of retirement but also opening up a valuable talent pool for organizations worldwide.
The Rise of the Aging Workforce
In countries like Lithuania, the number of retirees is now surpassing new entrants into the job market. The 55+ cohort constitutes a substantial portion of the workforce in several countries, reaching 25% or more in Germany, Japan, and Italy, according to the Harvard Business Review. A Bain & Company study projects a dramatic shift, with over 150 million jobs expected to be filled by this age group globally within the next six years.
This trend is mirrored in India, where the Centre for Monitoring Indian Economy (CMIE) reports a significant increase in the workforce aged 40 and above, rising from 42% in 2016-17 to 57% by 2021-22.
The Untapped Potential of Experienced Professionals
A recent report by IMSA Search Global Partners underscores the positive impact of this aging workforce, emphasizing that “seniors are now being viewed positively as a great untapped labor pool that’s growing.”
These WisGen bring a wealth of skills and experience to the table, honed over decades of working. They offer:
- Depth of Knowledge: Years of experience translate to an unparalleled understanding of industries, processes, and best practices.
- Mentorship & Leadership: Their seasoned wisdom makes them invaluable mentors and leaders, guiding and inspiring younger generations.
- Stability & Loyalty: WisGen often exhibit lower turnover rates, fostering a more stable and committed workforce.
- Strong Relationships & Networks: Their established relationships with vendors, partners, and customers can be a tremendous asset for businesses.
- Adaptability & Resilience: WisGen have navigated numerous challenges throughout their careers, making them adaptable and resilient in the face of change.
Not only this, but a mixed-age workforce also brings a diversity of perspectives, experiences, and skills, leading to richer dialogue, innovation, and improved problem-solving. As Jūratė Kubilienė and Irma Simonkevičienė of Simple Search explain, age-diverse teams leverage differences to maximize productivity, engagement, and well-being.
The stereotype of older workers as slow and resistant to change is outdated and inaccurate. Today’s senior professionals are eager to learn, adapt, and embrace new technologies. The COVID-19 pandemic accelerated their adoption of digital tools, further bridging the generational tech gap.
The future of work is evolving, and at WisdomCircle, we’re at the forefront of this change. We connect organizations with experienced professionals seeking meaningful engagement in various capacities. Whether it’s full-time roles, project-based consulting, or even volunteer opportunities with NGOs, we help WisGen find the perfect fit for their skills and interests.
Are you ready to embrace the power of experience
Join the WisdomCircle community and discover how seasoned professionals can transform your organization.
