The impact of mature workers on mental wellbeing and sustainable business success

Keywords: mental health, ageism, effectiveness, sustainable success, leadership

Date: 01 August 2024, Worklife Digital

In today’s fast-paced business environment, a growing trend of ageism in recruitment practices is starting to negatively impact business performance. Many organisations are increasingly overlooking the value of older employees, driven by misconceptions about their capabilities and cost-effectiveness. This ageist bias not only undermines the wealth of experience and stability that older workers bring but also hinders the creation of a diverse and inclusive workplace. Addressing this trend is crucial, as the recruitment and development of older employees play a vital role in fostering organisational mental wellbeing and ensuring sustainable business success.

Research underscores the multifaceted benefits that older employees contribute to businesses, particularly in enhancing mental wellbeing, supporting younger workers, and driving long-term business outcomes.

Mental wellbeing and stability

Older employees often bring a wealth of experience and emotional resilience, which are critical in maintaining a stable and supportive work environment. Their extensive work experience equips them with valuable skills in managing stress and navigating complex situations, which can positively influence the overall workplace atmosphere. A study published in 2015 found that older workers exhibit higher levels of emotional stability and resilience compared to their younger counterparts. This stability can reduce overall workplace stress and contribute to a positive organisational culture, enhancing the mental wellbeing of all employees.

Mentorship and support for younger workers

The presence of older employees can serve as a source of mentorship and support for younger colleagues. Many companies believe that older people are “overpaid” and can be “replaced with younger workers” who can do the job just as well. However, the scientific evidence on this issue shows differently: for most people, knowledge and expertise—a key predictors of job performance—keep increasing even beyond the age of 80. Many of the most critical positions require sophisticated skills, experience, and social acumen. Those needs can’t all be met simply by hiring and training inexperienced workers or leveraging AI.

Intergenerational interaction fosters a culture of continuous learning and mutual respect, enhancing mental wellbeing across the board. A report by the Center for Creative Leadership (CCL) highlights that workplaces with diverse age groups experience lower levels of stress and higher job satisfaction, as older employees often act as stabilising forces during times of change.

Driving sustainable business success

What older workers bring to the table is well-documented and yet highly under-appreciated. They have knowledge and skills, both functional and organisational. They offer commitment, loyalty, and engagement—valuable traits often in decline these days. Research by the AARP in 2022 found that businesses with age-diverse workforces tend to perform better financially. The study revealed that companies actively employing older workers reported higher productivity levels, improved customer satisfaction, and better employee retention rates. These factors are crucial for achieving long-term business success and sustainability.

Ultimately, older workers bring a wealth of benefits, including the confidence to challenge conventional wisdom, resilience in the face of adversity, and the ability to mentor and develop younger colleagues. These attributes not only enhance organisational performance but also support mental wellbeing across the workforce. By embracing age diversity, companies can build more robust, innovative, and supportive workplaces, ultimately driving long-term success. It is high time for businesses to recognise and harness the invaluable contributions of their mature employees.

WorkLife Digital is a global mental-wellbeing consultancy driven by the mission to improve the sustainability of businesses. Our psychological wellbeing tool, Worklife Quotient (WL-Q), is modelled on cutting-edge scientific research and provides organisation-wide measurement and intelligence on the mental wellbeing levels and psychological resilience of staff. WL-Q also assesses the impact of organisational practices (i.e. people and culture, leadership styles, organisational purpose and values, social impact) that have a direct influence on staff wellbeing and provides strategic recommendations on addressing risks and promoting strengths.

For more information, get in touch at lisa@worklife.digital

REFERENCES

Truxillo, D. M., Cadiz, D. M., & Hammer, L. B. (2015). Supporting the aging workforce: A review and recommendations for workplace intervention research. Annual Review of Organizational Psychology and Organizational Behavior

https://hbr.org/2024/03/redesigning-retirement

https://hbr.org/2023/10/navigating-mental-health-in-a-multigenerational-workplace

https://hbr.org/2019/09/the-case-for-hiring-older-workers

AARP. (2022). The Value of Experience: AARP Multicultural Work and Jobs Study.