The Rise of Older Workers: A Shift in the Workforce Landscape

A global study by Bain & Company predicts that by 2031, older workers will make up more than a quarter of the workforce in the Group of Seven countries, with a total of 150 million jobs shifting to workers over the age of 55 by 2030. This trend is not limited to developed markets, as China's elderly population is also expected to double by 2050. The study highlights the need for companies to invest in recruiting, retaining, and reskilling older workers, as their motivations and priorities differ from younger workers. To tap into the motivations of older workers, companies should design workplace experiences that offer interesting work, autonomy, flexibility, and opportunities for skill development.