83% of Execs Agree Multigenerational Workforce Key to Growth

83% of Execs Agree Multigenerational Workforce Key to Growth

Aug. 11, 2020
New global AARP study finds companies purposefully design mixed-aged teams to leverage the advantages of both age groups.

In many companies, there are a number of generations working side-by-side.

AARP wondered how everyone was getting along,  so they surveyed 6,000 employers in 36 countries from fall 2019 until the spring of 2020.

And it turns out things are not only going well, but executives realize the importance of this harmony. The new survey, released on August 5,  found that 83% of global business leaders recognize that multigenerational workforces are key to the growth and long-term success of their companies. 

"As people live longer, healthier lives, they're also working longer – a long-term trend that presents a great opportunity for employers and people of all ages to reimagine what it means to earn and learn over a lifetime," said AARP CEO Jo Ann Jenkins in a statement.

"Research shows that age-diverse workforces have a positive effect on employee engagement, productivity, and the bottom line,” Jenkins added. “It is heartening to see that business leaders around the world recognize this value, even as we've been concerned the pandemic could fuel ageism."

  • The survey found that over half (53%) of the employers surveyed do not yet include age as a factor in their company's diversity and inclusion policies. However:
  • 70% favor taking steps to promote unbiased recruitment practices,
  • Three in four (74%) would provide training and lifelong learning opportunities for older employees,
  • Two in three (68%) would purposefully design mixed-aged teams to leverage the advantages that both younger and older employees bring to the table, and
  • Over half (54%) are providing more flexible work arrangements, including teleworking. 

The survey is part of the Living, Learning, and Earning Longer Collaborative Initiative, a partnership between AARP, the Organization for Economic Cooperation and Development (OECD), and the World Economic Forum. The Initiative was launched in 2019 to identify, share, and promote inclusive multigenerational workplace practices from around the world.

About the Author

IW Staff

Find contact information for the IndustryWeek staff: Contact IndustryWeek

Sponsored Recommendations

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!