To truly overcome age discrimination, and the damage it could bring to our global economy, companies need to take action. Here's 7 actions your business can take to overcome age discrimination.
You can do this without necessarily offering higher and higher pay (to prevent replacing them with “cheaper” young people).
Tenure is not a useful measure for pay, unless it directly translates into experience and skills that drive value to the company. It’s more than OK for an older person to make less money than a younger person if they’re new to the job. In fact, it’s fair.
A recent study from Deloitte showed that age-diverse teams feel more psychological safety and innovative than teams which are age-biased. Age brings a sense of security and wisdom to teams, so use it to your advantage.
These positions will let them leverage their years of expertise or tenure. Everyone reaches their “Peter Principle” level eventually, but that doesn’t mean they can’t grow without going “up” the pyramid.
Invite them back to work from retirement, and tell stories of older people succeeding at your company. Companies like Boeing, Bank of America, Walgreens, GM, and others now invite older workers to come back, through specific programs tailored to the aging. They are branded “returnships.”
This includes tackling implicit biases, which is an illegal practice. When older workers find out they are excluded for non-specific reasons, they can and will sue your company.
Show them how they can help older people and understand how to manage older workers, who have biases of their own.
Generational diversity has great potential. People from different generations can grow and learn from one another as they are exposed to one another's ideas and experiences. The new perspectives they gain can spark new ideas and prompt new ways of working.