A Person's Age Shouldn't Define Who They Are: Unlocking Inter-generational Potential
A person’s age shouldn’t define who they are. But, how many times have you heard people say, ‘you are too young… wait a few more years’ or ‘we don’t do things like that anymore… you are close to retirement… why do you care?’.
What these labels and assumptions are failing to highlight is the complexity resulting from the significant demographic shifts we are seeing, with low birth rates at one end and increasing longevity at the other.
What are the implications of these significant demographic changes and how can we ensure that we unlock the intergenerational potential for the benefit of business, the economy and society.
The Shift
Between 2015 and 2050, the proportion of the world's population over 60 years will nearly double from 12% to 22% [1].
Increasing longevity has led to a longer tail that needs to be funded. Most people globally will outlive their retirement savings by between 8 and almost 20 years on average [2]. Five-year-olds today are likely to live until they are 100. Assuming the retirement age remains in the 60s, those five-year-olds may need to finance a 40-year retirement [3]!
For most of the 20th century the implicit contract between individuals and organisations typically guaranteed a long and loyal service in exchange for a generous pension at the end. The increasing economic uncertainty and volatility has disrupted this exchange, leading to greater uncertainty in financing retirement, and even the ability to retire. According to an OECD survey, 40% of adults do not have more than six months’ worth of savings – roughly 474 months short of the amount they need to fully cover their retirement (notwithstanding unexpected financial shocks) [5]. In turn, “unretirement” – returning to work after retirement has become increasingly more common. According to a survey by Adecco Group’s Innovation Foundation, overall, 33% of once-retired respondents returned to work. The figure differed significantly across the geographies, but the drivers were consistent, financial reasons and personal fulfilment.
We live longer but we are not necessarily healthier. Life expectancy has increased by three decades since the mid-twentieth century. Parallel health span expansion has however not followed, largely impeded by the pandemic of chronic diseases afflicting a growing older population [6].
This has significant implications for society and the workplace. A report from Carers UK found that more than 600 people a day leave paid employment to care for a loved one, with many facing financial hardship as a result [7]. This magnifies the problem of the ‘leaky pipeline’, haemorrhaging capable people who are willing and able to work.
The days of “Bank of Mum and Dad” may be reversing. Like caregiving, more young people (45%) e.g. those under age 40, expect that they will provide financial support to their elderly relatives compared to 32% of those over 40 [8].
Unlocking Inter-Generational Potential
It's clear that there are significant implications from the demographic shifts that we are facing, and we should intentionally identify ways to address any generational bias and unlock intergenerational potential to mitigate the societal and economic impacts. Business, society, and policymakers need to develop and communicate a position that reconciles several potentially competing circumstances and priorities.
Perhaps a starting point in getting to the underlying drivers of generational bias is to recognise that age is a characteristic that applies to all of us, and we will all at one time or another during our life, inhabit a specific age group. According to WHO’s global report on combatting ageism, unlike other -ism’s such as racism or sexism, which involved bias against relatively stable subpopulations that do not vary across the life course, ageism involves bias against a moving target.
While research on the impact of ageism at the workplace and in wider society remains limited [9], the evidence that is available dispels certain myths and guides us on the direction of travel to address the bias that may be preventing us unlocking the potential that is there.
Attitude to technology: the prevailing narrative says that older workers are less able to use new technology, whereas evidence shows that only 5% of older workers feel that they struggle with technology [9]. With the speed of change accelerated by AI technologies, everyone is on a steep learning curve, which should provide a more level playing field. Accelerated technological change requires a more proactive stance to maximise the potential that is there amongst older workers. If we can better understand and make the skills of mature workers more visible, we would be able to combat biases regarding productivity and job performance.
Health-related needs: health-related needs of older workers appear to be a significant concern for employers, however the proportion of workers with health-related needs appears to remain relatively consistent between age 55 and 70 [11]. At the other end of the age spectrum, research from the think tank Resolution Foundation in the UK found more than a third of people ages 18-24 have a “common mental disorder” such as depression or anxiety[10]. Moving beyond assumptions and stereotypes would enable us to reshape ways of working to create inclusive and supportive environments that address genuine underlying needs.
Pivoting: employers perceive the appetite of mature workers to change as low, however, around half of retirees would be willing to accept a lower position if they took another job and work life balance would be the main motivation, followed by physical and mental health, and flexibility. Addressing these needs creates more opportunities for those willing to continue working longer and helps to address the ‘leaky pipeline’ problem and expertise gap due to demographic changes. The barriers to pivot, including bias, access to training and assumptions about skills mismatch (e.g. technology), merit further exploration, as does the impact of pivoting on financial stability.
Intergenerational Practice: Is Essential
Intergenerational practice is a concept that has been developed to promote greater understanding and respect between different generations. It is inclusive, building on the positive resources that the younger and older generations have to offer each other and those around them.
As we are coming to the end of Global Intergenerational Week #GIW25 the importance of unlocking the potential within and across generations is critical given one of the most defining transitions in the history of humanity. Alongside the health and wellbeing benefits, there are economic and societal benefits that need to be further explored and recognised. To date, few estimates of the economic costs have been carried out. Estimates in Australia suggest that if 5% more people aged 55 or older were employed, there would be a positive annual impact of 48billion Australian dollars on the national economy [9]. These are benefits that we cannot afford to ignore.
Resources
1. Ageing and Health 2024. WHO. https://www.who.int/news-room/fact-sheets/detail/ageing-and-health
2. World Economic Forum (2019). Investing in (and for) Our Future.
3. World Economic Forum (2024). Multi-generational sustainable development: How Longevity can help achieve the SDGs. https://www.weforum.org/stories/2024/09/multi-generational-sustainable-development-how-longevity-can-help-achieve-the-sdgs/.
4. World Economic Forum (2024) Insight Report. Longevity Economy Principles: The Foundation for a Financially Resilient Future.
5. Organisation for Economic Cooperation and Development (OECD) and International Network on Financial Education (INFE), OECD/INFE 2020 International Survey of Adult Financial Literacy, 2020. https://www.oecd.org/financial/education/ oecd-infe-2020-international-survey-of-adult-financial-literacy.pdf
6. Cecconi C, Adams R, Cardone A, Declaye J, Silva M, Vanlerberghe T, Guldemond N, Devisch I, van Vugt J. Generational differences in healthcare: the role of technology in the path forward. Front Public Health. 2025 Feb 26;13:1546317. doi: 10.3389/fpubh.2025.1546317. PMID: 40078753; PMCID: PMC11897013.
7. Research: More Than 600 People Quit Work to Look After Older and Disabled Relatives Every Day”, Carers UK press release, 5 February 2019. https://www.carersuk.org/press-releases/ research-more-than-600-people-quit-work-tolook-after-older-and-disabled-relatives-every-day/.
8. World Economic Forum (2023) Insight Report. Living Longer, Better: Understanding Longevity Literacy.
9. Global Report on Ageism. WHO https://www.who.int/publications/i/item/9789240016866
10. C. McCurdy & L. Murphy. We've only just begun: Action to improve young people’s mental health, education and employment, Resolution Foundation, February 2024.
11. Innovation Foundation (2023). Reimagining work before and after retirement: An insight survey on the needs and challenges of mature workers. https://www.adeccogroup.com/innovationfoundation/projects/mature-workers.
12. Romsey, J. Meeting Mental Health Needs Across Generations. Strategic Human Resource Management, February 2024. https://www.shrm.org/topics-tools/news/employee-relations/meeting-mental-health-needs-across-generations.
13. Today’s 5-year-olds are likely to live until they are 100: What will their lives be like? National Geographic, February 2023.
For those interested in further resources and materials on generations please see below.
Generations Working Together is the national excellence centre for intergenerational work in Scotland. They have been sponsoring the @Global Intergenerational campaign which has expanded to include 17 countries for 2025 with sponsorship from Bayer.
https://generationsworkingtogether.org/global-intergenerational-week.
Dr Eliza Filby - is an award-winning historian of generations. She writes and speaks extensively on the topic. https://www.elizafilby.com/
Avivah Wittenberg-Cox is the CEO of 20-first and is a thought leader in gender and generational balance, and the host of the podcast 4-Quarter Lives.
55/Redefined is a pioneering organisation that was founded by Lyndsey Simpson to focus exclusively on 50+ talent.
About the author
I founded Metochi Consulting Ltd to create tailored and impactful people strategies that unleash potential for sustainable growth.
I have a deep belief that the right combination of people strategies and solutions can have a compounding effect in solving those seemingly intractable problems that leaders, owners and founders face during key transitions.
With Metochi Consulting Ltd we are your strategic people partner, connecting the dots to unleash your business’s potential.