How can organisations leverage the 60+ working population?

In the fast-paced world of modern business, the value of experience and wisdom cannot be overstated. Among the many assets organisations possess, the untapped potential of the 60+ working population stands as a treasure trove waiting to be explored. As demographics shift and people extend their careers, harnessing the unique skills, insights and perspectives of this cohort can catalyse innovation and foster a dynamic work environment.

Shaleen Manik, CHRO, Transsion India, believes that across diverse organisations, the presence of this 60+ working population holds notable significance. Members of this specific generation are valuable and advantageous due to their extensive experience and profound wisdom.

“With up to 35 or 26 years of exposure within an organisation, the Baby Boomers offer a reservoir of insights essential for ensuring organisational sustainability. Their unique perspective comes from witnessing decades of industry evolution and transformative shifts. This makes them a crucial asset in surmounting challenges and guiding strategic decisions,” shares Manik.

Valuable experience

The 60s age group within the workforce represents a living archive of experience. This experience isn’t confined to outdated methodologies. Rather, it’s a rich tapestry of lessons learned, challenges overcome and historical contexts that can guide contemporary decision-making. Organisations must reimagine experience as a dynamic, forward-facing asset that informs strategic planning and problem-solving.

“With up to 35 or 26 years of exposure within an organisation, the Baby Boomers offer a reservoir of insights essential for ensuring organisational sustainability. Their unique perspective comes from witnessing decades of industry evolution and transformative shifts”

Shaleen Manik, CHRO, Transsion India

Meaningful collaboration

When diverse generations collaborate, magic happens. The 60+ cohort, with their wealth of industry knowledge, can partner with younger colleagues who bring digital fluency and fresh perspectives to the table. This collaboration encourages the exchange of ideas that challenge norms, drive innovation and lead to holistic solutions that resonate with a broader audience.

Anil Mohanty, senior HR leader, shares that in considering how organisations can harness the potential of the 60+ workforce, the strategy of forming cross-functional teams that blend various generations—from Boomers to Millennials and Gen Z— emerges as a powerful approach.

Mohanty goes on to add, “This cross-generational amalgamation holds relevance across diverse industries and functions, capitalising on each generation’s unique outlook and positive attributes. While recognising the distinctiveness of each generation, the aim is to cultivate a systematic and constructive growth trajectory that melds the wisdom of more experienced individuals with the fresh perspectives of their younger counterparts.”

Reverse mentorship

Traditionally, mentorship flows from experienced individuals to newcomers. However, the 60+ working population has a unique opportunity to engage in reverse mentorship, where they learn from their younger counterparts about emerging technologies, trends and digital strategies. This two-way exchange empowers older employees to stay current while sharing their seasoned insights.

According to Rajorshi Ganguly, president and global HR head, Alkem Laboratories, in the context of harnessing the potential of the 60+ working population, organisations should strategically tap into their expertise and capabilities. This approach can be effectively implemented through mentorship programmes and policy considerations.

“Those who are fit and motivated to continue working beyond the typical retirement age can indeed be valuable assets. Leveraging their experience and capabilities becomes particularly pertinent when they bring unique expertise to the table, which may be challenging to find within the younger workforce”

Rajorshi Ganguly, president and global HR head, Alkem Laboratories

Innovation through advisory boards

Forming advisory boards composed of seasoned professionals from the 60+ demographic can breathe new life into organisational strategies. These boards serve as idea incubators, guiding innovation by blending historical context with future aspirations. The diverse array of perspectives ensures comprehensive decision-making that transcends generational biases.

Continuous learning

Learning is a lifelong journey, regardless of age. Organisations that champion continuous learning and professional development create an environment where the 60+ workforce can thrive. Tailored training programmes, workshops and seminars keep these individuals engaged, equipped and primed for evolving roles within the organisation.

While the Millennials and Gen Z represent the future workforce, their alignment with these seasoned professionals proves beneficial. The expertise and wisdom of Baby Boomers are pivotal in nurturing the work ethic and stability of these younger generations.

“Leveraging the 60+ working population involves fostering an inclusive environment, where age diversity thrives, contributing to a symbiotic learning experience for all,” points out Mohanty. “Embracing this perspective acknowledges that while AI and technology-driven strategies hold value, the cumulative wisdom of older generations has its distinct merits,” opines Mohanty. Therefore, as he rightly put its, “The overarching goal is to attain a harmonious blend of generational insights, recognising that diverse viewpoints ultimately enrich organisational progress and innovation.”

“Embracing this perspective acknowledges that while AI and technology-driven strategies hold value, the cumulative wisdom of older generations has its distinct merits”

Anil Mohanty, senior HR leader

Ganguly strongly believes, “Those who are fit and motivated to continue working beyond the typical retirement age can indeed be valuable assets. Leveraging their experience and capabilities becomes particularly pertinent when they bring unique expertise to the table, which may be challenging to find within the younger workforce.”

He emphasises that the key principle is to tap into the 60+ working population’s strengths when their expertise aligns with organisational needs, fostering an environment of collaborative learning and growth across generations.

The 60+ working population is not a relic of the past but rather a dynamic force that can invigorate organisations and redefine success. Organisations can surely unlock the true potential of this cohort. All they need to do is, redefine experience, embrace cross-generational collaboration, encourage reverse mentorship, offer flexibility, curate advisory boards, champion lifelong learning and showcase accomplishments.