12/06/2024

To Improve Competitiveness, Boost Older Employees' Skills

Upskilling unlocks the power of experience

The U.S. workforce is evolving, and companies have a tremendous opportunity to tap in to one of their most valuable assets: experienced employees. Over the past 20 years, the number of workers aged 65 and older has increased by an astonishing 117 percent. While this demographic shift might make some businesses uneasy — fearing potential challenges with technology adoption or retention — it should instead be seen as a silver opportunity.

An aging workforce brings unparalleled benefits, particularly the wealth of experience and institutional knowledge that comes with seasoned professionals. Many are eager to learn, grow and continue contributing. In fact, a recent survey from InStride found that nearly 60 percent of workers ages 60 to 69 are interested in upskilling programs to stay competitive. This signals a workforce that is ready to meet the future head-on if given the right tools.

Here is how smart companies can harness this momentum and make the most of their aging workforce through targeted upskilling programs.

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