The Age Advantage: Why Older Workers Are the Secret to Success

Pop Quiz: Which cohort is the fastest-growing segment of the American workforce? Hint: It’s not Gen Z, Millennials, Gen X, or even Generation Alpha. The answer might surprise you: Baby Boomers, those born between 1946 and 1964.

Since the Bureau of Labor Statistics (BLS) began tracking this trend in 2017, the numbers have become more compelling. By 2030, the labor force participation rate for workers aged 75 and older is expected to soar by an extraordinary 96.5 percent. Meanwhile, those aged 65 to 74 stay in the workforce longer than ever.

This isn’t just a demographic footnote; it’s a strategic opportunity for businesses. As a CEO who has led billion-dollar organizations and generated more than $3 billion in shareholder value, I’ve seen firsthand how hiring older workers can transform a company. Here’s why you should make it a priority, too.

According to the Organization for Economic Cooperation and Development (OECD), while older workers struggle to retain their jobs, including them in the workforce boosts productivity and remains a key priority worldwide. Look at high-profile examples such as Warren Buffett or Madonna, who continue to thrive in their respective fields.

And the data backs this up. Research from MIT reveals that older entrepreneurs are powerhouses of innovation and resilience. Founders over 40 are three times more likely to build successful companies than their younger counterparts.

The takeaway is clear: Leveraging the experience and skills of older workers isn’t just a nod to inclusion—it’s a competitive edge. This is what I have discovered about older workers:

Advantages of Hiring Older Employees

1. They bring a wealth of experience.

Older workers have decades of muscle memory, honed judgment, and critical thinking skills that take years—if not decades—to develop. They’ve endured industry evolutions, economic swings, and organizational challenges, and they’ve emerged sharper and wiser.

Put three 30-year-olds in a room, and you might get 15 years of combined relevant experience. Now put three 60-year-olds in that same room, and suddenly you have more than a century of perspective, expertise, and “been-there, done-that” insight. That depth of experience doesn’t just add value—it can fundamentally transform an organization.

2. They bring built-in networks.

Every hire is more than just a resume—they’re a bridge to a world of personal and professional connections. Older workers come with expansive, well-curated networks developed over decades. These trusted relationships can be a goldmine for your business, opening doors to strategic partnerships, new clients, and growth opportunities that are hard to replicate.

3. They have a proven work ethic.

Older employees have weathered the highs and lows of their industries—booms, busts, and everything in between. They know the value of hard work and perseverance because they’ve lived it. This proven work ethic isn’t just an asset; it’s a culture booster. It sets a high standard, inspiring colleagues across the organization to rise to the occasion.

4. They stick around.

Turnover is a silent killer of profits. According to Gallup, replacing an employee can cost anywhere from 50 percent to 200 percent of their annual salary. Younger employees, with a median tenure of just 2.7 years for those age 25 to 34, are more likely to job-hop. Compare that to older workers age 55 to 64, who stay for an average of 9.6 years.

The math is straightforward: Fewer departures mean fewer costs associated with hiring, onboarding, and training replacements. Hiring older workers is a long-term investment that pays off in reduced turnover.

5. They’re natural mentors.

With years of experience under their belts, older workers bring more than just technical expertise—they bring wisdom and a willingness to share it. Their presence enriches teams by fostering mentorship opportunities, where seasoned professionals guide and train younger colleagues.

This dynamic isn’t just a win for the mentees. It cultivates a collaborative workplace culture where knowledge and insights flow freely, boosting the entire team’s performance and cohesion.

6. They bring diversity that drives results.

Diversity is a proven catalyst for high-performing teams, but it’s not just about race, gender, or age—it’s about perspective. Older workers add a depth of experience that’s hard to replicate. They’ve witnessed industries transform, cultural norms shift, and business priorities evolve.

Their unique insights can challenge conventional thinking and spark innovative ideas, often bringing fresh solutions to challenges that younger teams might not see. It’s the kind of diversity that doesn’t just add value—it delivers measurable impact.

7. They boost your brand’s credibility.

Older employees bring trust and expertise in a world where both are increasingly rare commodities. Clients and customers are more likely to trust a business when they see seasoned professionals in key roles. This is especially true in industries where experience equals confidence, such as finance, healthcare, or consulting.

8. They excel at customer service.

Many Baby Boomers grew up in a world where customer service was personal, not transactional. They’ve carried that ethos with them, making them ideal for customer-facing roles. Their ability to connect with clients on a human level creates a better customer experience and reinforces your company’s reputation.

9. They’re lifelong learners.

The myth that older workers can’t adapt to new technologies or ways of working is just that—a myth. Many have already embraced technology in their personal lives, whether it’s using smartphones, streaming services, or social media. On the job, they’re eager to close the gap and often thrive when given the chance to learn.

What’s more, older workers bring humility to the learning process. They’re not afraid to take direction from younger colleagues, creating a two-way knowledge exchange that benefits everyone.

The Bottom Line

Hiring older workers isn’t just a feel-good move—it’s a strategic edge. They bring unparalleled experience, loyalty, and professionalism, all while reducing turnover costs and enhancing team performance.

In early 2022, the Society for Human Resource Management (SHRM) reported a renewed focus among companies on retaining and hiring older workers for precisely these reasons. Their value as mentors and their eagerness to return to on-site work make them a vital asset in today’s hybrid workforce.

Ignoring this talent pool means leaving untapped potential on the table. Older workers don’t just fill roles, they elevate them, delivering unique perspectives, skills, and a level of reliability that younger hires can’t replicate. For companies ready to thrive, the choice is clear.