The US workforce is evolving, and companies have a tremendous opportunity to tap in to one of their most valuable assets: experienced employees. Over the past 20 years, the number of workers aged 65 and older has increased by an astonishing 117%. While this demographic shift might make some businesses uneasy — fearing potential challenges with technology adoption or retention — it should instead be seen as a silver opportunity.
An aging workforce brings unparalleled benefits, particularly the wealth of experience and institutional knowledge that comes with seasoned professionals. Many are eager to learn, grow and continue contributing. In fact, a recent survey from InStride found that nearly 60% of workers ages 60 to 69 are interested in upskilling programs to stay competitive. This signals a workforce that is ready to meet the future head-on if given the right tools.
Here’s how smart companies can harness this momentum and make the most of their aging workforce through targeted upskilling programs.
The strengths of an aging workforce
Much has been said about how to prepare for the rising tide of Boomer retirement. While growing the next generation of leaders is a critical part of this strategy, companies should recognize the untapped potential of their more seasoned workers.
Experienced employees bring something that younger workers simply can’t: the ability to pass on decades of hard-earned wisdom and institutional knowledge. This knowledge transfer helps preserve company insights that might otherwise be lost as tenured workers retire. Plus, the wisdom and long-term perspective of older workers can combine with the fresh, innovative ideas of younger employees to enable better decision-making and stronger team dynamics across the board.
Creating an inclusive culture is key. When companies commit to lifelong learning, they send a clear and powerful message that professional growth doesn’t have an expiration date. This type of culture encourages older workers to embrace new skilling opportunities while also motivating younger employees to seek mentorship and training in emerging areas. It’s not just about the skills you are teaching — it’s about the learning environment you are creating.
Retention through learning and flexibility
The goal isn’t simply to retain experienced workers; it’s to ensure they feel valued, supported and ready to tackle the future. A few key strategies stand out for increasing retention across the generations: tuition assistance, specific capability-building learning programs that help employees contextualize what they learn to what they see on the job, flexible work options and mental health support.
Education programs are a game changer for seasoned professionals. Tuition assistance programs enable workers to upskill regardless of financial circumstances and may even allow them to extend tuition benefits to a dependent. Providing meaningful educational opportunities also empowers employees who have advanced through the ranks — often without formal business education — to make impactful contributions to their organizations. Courses focused on essential topics like financial acumen, strategy and innovation for leaders in food, retail and manufacturing can re-energize employees, foster strong peer networks that champion learning across the company, and drive significant business results in a short time.
Offering options like remote work, part-time roles or adjustable schedules further enables seasoned workers to balance professional responsibilities with personal needs, such as caregiving or health management. Flexibility can also encourage older workers to stay longer in the workforce, easing the transition into retirement. With 73% of employees juggling caregiving duties, the benefits of flexible work options are not exclusive to those late in their careers. Looking at flexibility and balance works for all ages in the workforce.
Finally, prioritizing mental health support is equally important for keeping older employees engaged and productive. As many as 2 in 5 full-time employees experience burnout, which increases the likelihood that they will retire early. Companies can combat this by providing access to mental health resources, such as counseling services, wellness programs and stress management workshops. This will foster a supportive environment that addresses the emotional well-being of all employees and consequently decreases turnover.
Why growth at every stage is a lasting investment
Experienced employees are a company’s most irreplaceable asset. The key to unlocking their potential is recognizing that growth is possible at every stage of life and career. To fully leverage the contributions of time-tested talent, companies must make an active, strategic investment. By offering continuous education, flexible learning options and capability-building learning programs, organizations create a culture where seasoned employees feel valued and equipped for the future.
The goal isn’t just to keep these workers engaged; it’s to empower them to make meaningful, ongoing contributions. When knowledge flows freely across generations, companies retain critical insights and enrich their workforce with diverse perspectives. This approach reinforces a commitment to holistic employee well-being and long-term organizational strength. By fostering a workplace where experience and innovation intersect, companies ensure they are well-prepared to meet tomorrow’s challenges with a resilient, knowledgeable and dynamic team.
Opinions expressed by SmartBrief contributors are their own.
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