Companies urged to prepare for aging workforce

MINNESOTA, UNITED STATES — A new study by The Coven reveals most organizations are unprepared to support an aging workforce. 

The study surveyed over 1,500 employed Americans aged 18 to 75+ to understand their needs and desires as they age in the workplace.

With people living and working longer, the number of older employees has risen dramatically. Nearly half of workers aged 65+ intend to stay employed for 5+ more years. 

However, 95% of employers lack strategies to ensure an age-inclusive culture, though 83% believe their workplace already is. Just 67% of employees agree.

This perception gap stems from ageist assumptions hindering communication between generations. Older staff feel less respected, valued, and understood.

The study identified key needs across age groups: a sense of purpose, flexibility, and belonging. Older employees especially seek meaningful work, citing purpose as their top motivator. Flexible options also encourage older workers to stay. Fostering community combats isolation.

“Employers are desperate to create thriving, dynamic workplaces but lack the knowledge required to successfully bridge gaps in both perception and understanding related to age, aging, and ageism,” said Bethany Iverson, The Coven co-founder. 

To engage all generations, The Coven advises “mobilizing” against ageism through recruitment and training. “Maintaining” job quality and flexibility retains workers. “Maximizing” development opportunities for all ages boosts fulfillment and skills.

Tweaking roles to apply both fluid intelligence like problem-solving and crystallized intelligence like institutional knowledge can utilize strengths at any age.

Iverson hopes the findings will “spark new conversations and build momentum towards a more humane, inclusive future of work.” Supporting employees throughout longer careers is an “opportunity for extended growth, both as individuals and employees.”

The Coven, founded in 2018 in Minnesota, creates inclusive co-working spaces for women, non-binary and trans individuals.