As a notable percentage of the workforce ages and there is an increase in baby boomers in the workplace, there is a growing concern among these older employees about maintaining health and longevity. In fact, according to the U.S. Bureau of Labor Statistics, employees 55 and older will account for over a quarter of the global workforce by 2031. This demographic is increasingly focused on healthy aging and staying productive and vital by seeking ways to stay physically fit, mentally sharp, and socially engaged. Despite the significant presence of older employees in the workforce, many employers are not prioritizing efforts to attract, retain, and support them.
Key Highlights
What are the benefits of older employees and how do they contribute?
- Expertise and Insight
- Work Ethic and Reliability
- Mentorship and Development
- Loyalty and Retention
- Client Relationships
How to Support Healthy Aging
As a large influx of new workers begin their careers, companies have honed in their focus on the needs of younger employees. While new employees require specific support, so do their older counterparts, and with the right workplace wellness strategies companies can ensure they are not leaving anyone behind. Issues such as drug and alcohol addiction, suicide, obesity and diabetes are claiming the lives of many working-age adults, leading to a recent three-year decrease in overall life expectancy. Given that the average person spends ⅓ of their life working, companies play a crucial role in enabling their employees to lead long and healthy lives.
While these employees are not a monolith, there are common threads among them that can be woven into the greater culture of your organization. In turn, older employees contribute significantly to their companies, offering extensive work experience and unique perspectives that help create a balanced workplace ecosystem.
We’ve compiled the key reasons why older employees are valuable, why they prioritize healthy aging, and how your company wellness programs can address these multifaceted needs.
What are the benefits of older employees and how do they contribute?
1. Expertise and Insight
Older workers are often rich in experience and knowledge that can be invaluable to an organization. They’re uniquely equipped with workplace wisdom as they have witnessed major change to work environments and practices throughout the past few decades. As a result, they have likely encountered and resolved a wide variety of challenges, making them adept problem-solvers.
2. Work Ethic and Reliability
Older workers have made a profound impact on the workplace with their demonstration of a strong work ethic. Many of them consider reliability at work to be tied into their morality, and so it’s important to them that they are punctual and committed to their roles. This makes them excellent role models for young employees.
3. Mentorship and Development
Older workers can play a pivotal role in mentoring and training younger employees. Their guidance can help foster a more skilled and competent workforce. A multi-generational workforce brings diverse perspectives and ideas, which can drive innovation and improve problem-solving. In turn, it broadens the horizons of your organization’s potential.
4. Loyalty and Retention
Older workers are more likely to stay with an organization for longer periods, reducing turnover rates and the associated costs of hiring and training new employees. According to Gallup, replacing employees costs companies up to two times the employee’s annual salary, so mitigating these costs as much as possible is crucial.
5. Client Relationships
Fruitful client relationships are key to a company’s ongoing success as these interactions leave lasting impressions on potential or current partnerships. Older workers often shine in customer relations due to their experience and developed interpersonal skills. They can build strong, lasting relationships with clients while simultaneously creating a positive reputation for your organization.
How to Support Healthy Aging
The older workforce brings forth a unique set of strengths but they also have unique needs, as well. They require the right support in order to maintain their health and vitality through their working years and beyond. The wellness needs of older employees will differ for a variety of factors just as with any other demographic, however, the main reasons can be categorized within the following four cornerstones: physical health, mental health, lifelong learning, and social wellness.
1. Physical Health
Physical wellness is a vital aspect of overall well-being to underscore for your employees of any age, but especially for older workers. Promoting physical health among older workers involves fostering a supportive work environment that emphasizes the importance of regular exercise, balanced nutrition, and preventative healthcare.
- Chronic Health Issues: More than 75% of workers live with at least one chronic condition. Among older employees, arthritis and hypertension are the most prevalent health issues. Nearly half of workers aged 55 and older are affected by at least one of these conditions. You can counteract these issues with workplace wellness programs that incentivize regular biometric screenings, fitness reimbursement programs, and education on managing chronic conditions.
- Mobility: As employees age, maintaining mobility and flexibility becomes crucial. Offering employee benefits that provide access to yoga, pilates, and stretching exercises can help overcome these physical challenges and promote healthy aging.
- Nutrition: Proper nutrition is vital for healthy aging. Include nutritional counseling, healthy eating workshops, and access to nutritious food options in your company wellness program.
- Ergonomics: Conduct ergonomic assessments and provide equipment to reduce the risk of musculoskeletal disorders and other injuries. Additionally, encourage breaks where employees can step away from their workstations to take short walks, stretch, or simply relax their bodies.
Supporting the physical health of older workers through targeted company wellness programs, fitness initiatives, and health education is key to promoting longevity and sustained productivity.
2. Mental Health
Addressing the mental health needs of older workers is critical – as the workforce ages, many employees face certain challenges that can impact their mental well-being, including the stress of balancing work with personal responsibilities, adjusting to technological advancements, and managing age-related health concerns.
- Stress Management: Quality of life becomes an important focal point for older workers as time goes on, which mental well-being contributes to greatly. Offer workshops on stress management techniques, such as mindfulness, meditation, and yoga.
- Mental Health Resources: Provide access to mental health professionals and promote the use of employee assistance programs (EAPs) that offer counseling and support.
- Flexible Work: Flexibility is one of the main reasons older workers often choose to become self-employed. Flexible work hours and remote work options help employees manage work-life balance and reduce stress.
3. Lifelong Learning
In a rapidly evolving world, companies must also ensure that older employees are provided with the right resources to perform their daily tasks with clarity and confidence. As previously mentioned, adjusting to technological advancements is a paralyzing source of stress for some older employees. Keeping your entire workforce up-to-date with new technologies is top priority and is where many older workers tend to get left behind. Contrary to common belief, many older workers are highly adaptable and willing to learn new skills with the right support and training. They may experience feelings of isolation in the workplace if they aren’t set up for success, therefore ongoing education will also help to keep your employees connected to one another.
- Professional Development: Offer opportunities for ongoing learning and skill development through workshops, online courses, and tuition reimbursement programs.
- Training Sessions: Older workers are shown to be offered training less often than their younger counterparts. Provide training on new technologies and processes so that older employees remain proficient and confident in using them.
Don’t only offer professional development and training, but also actively encourage it. Retaining mental sharpness is essential for older workers, as it bolsters their capacity to adapt to new technologies and processes, ensuring they continue to be valuable contributors in the workplace. Moreover, maintaining cognitive health significantly enriches overall well-being, allowing older employees to enjoy a higher quality of life both professionally and personally.
4. Social Well-being
Social wellness is high on the list of priorities of older workers. It’s important to facilitate genuine connections between your employees, from Gen Z to Boomers. Employees across generations have the potential to learn valuable skills from one another. Someone who has been in the workforce for decades will have advice that can only be born of experience, meanwhile those new to the workforce may have beneficial fresh ideas.
- Events: Organize team-building activities, social events, and clubs based on shared interests to foster a sense of community and belonging.
- Mentorship Programs: Develop mentorship programs that pair older employees with younger ones to encourage sharing knowledge and mutual support.
- Volunteering Opportunities: Promote and facilitate employee participation in volunteer activities to cultivate social engagement and a sense of purpose.
Social wellness is a fundamental component of overall well-being for older employees, significantly impacting their quality of life and job satisfaction. Maintaining strong social connections within the workplace helps reduce feelings of isolation, enhances emotional support, and fosters a sense of belonging.
Wellness and Wisdom: Securing a Brighter Tomorrow
Many companies are missing the mark on developing workplace wellness programs and a wellness culture that is inclusive of older workers despite their sizable presence in the workforce. Addressing these concerns is important in sustaining the productivity and well-being of your seasoned employees while ensuring overall company success. Older workers are a vital asset to any organization, bringing a wealth of experience, reliability, and diverse perspectives that enrich the workplace. Their extensive knowledge and honed skills contribute to productivity and innovation, while their strong work ethic and commitment enhance team dynamics and organizational stability. By providing employee benefits and wellness initiatives that support the unique physical, mental, and social health needs of this generation, you can ensure that you are attracting and retaining these valuable employees while demonstrating a commitment to diversity, inclusion, and healthy aging.
If you have any questions or would like to learn more about how to ensure your company wellness program is inclusive of the unique needs of your older employees, please feel free to schedule time with one of our Benefits Specialists today!