Age Diversity in The Workplace: It’s a Good Thing!

Age Diversity in The Workplace: It’s a Good Thing!

It seems workplace diversity is a trending topic these days, and that’s great news. By expanding the range of perspectives, experiences, and characteristics of the workforce, it fuels innovation and brings organizations that much closer to overall excellence. But while ethnic and gender diversity are often noted, little mention is made of the age diverse workplace. Smart companies have long recognized and benefited from their multigenerational staffs, so there’s definitely something to be learned from them. Let’s take a look at three of the many benefits organizations stand to gain by embracing age diversity and how it can aid encore career seekers, too:

1.     A broader knowledge base. Each generation brings something unique to the table. For example, younger employees are generally more tech-savvy than their older counterparts, which comes in handy with today’s sophisticated business channels and indispensable social media efforts. On the other hand, older professionals likely worked in environments where technology-based communication wasn’t as rampant. As a result, your interpersonal skills have probably been honed greatly over the years, which can be particularly helpful if you’re considering a service-oriented position for your next chapter.

2.     Opportunities for mentorship. Age diversity paves the way for mentorship between older, more tenured employees and younger, less experienced ones. It’s often an excellent way for one generation to pass their knowledge and wisdom on to the next. Although it might seem that the benefit is purely for the student, there are also several ways that you as the mentor can profit, too. It can deliver a deep sense of personal fulfillment and satisfaction, as well as an opportunity to contribute to your employer’s future success. 

3.     Continuity. To succeed, companies can’t be mired in the past, they need to constantly evolve and adapt with the times. That’s why a workforce skewed heavily to just one age demographic runs the risk of becoming obsolete. Consider a workforce dominated only by young professionals: there is no opportunity for generational mentoring. And in a workforce dominated only by mature employees, when workers eventually retire from the company, there’s little bench strength left behind. A mixture of various generations provides balance–a marriage of past and present, leaving plenty of room for future growth.

Make the most of our aging workforce. Baby Boomers continue to be among the largest segments of the American workforce. While some seniors continue to work because they need the income, many simply don’t want to retire. You may have a strong work ethic and feel you still have a lot to contribute. And after dedicating years to achieving your career aspirations, you may want to turn your attention to a role that can offer more job satisfaction and the opportunity to give something back. An aging workforce can be used to great advantage if organizations are open to working creatively. It’s imperative that a multi-generational workforce not be viewed as a liability, but rather as a valuable tool for driving innovation and creative solutions.

To learn more about Encore Careers, contact Mark Stinson, Principal & Senior Advisor at FAI Wealth Management: mstinson@faiwealth.com.

About FAI Wealth Management, Inc.:  Located in Columbia, Maryland, FAI focuses on helping clients create the financial future they desire by protecting their wealth, making the most of their assets, and planning for life's uncertainties. The firm combines fee-only, fiduciary-driven guidance with highly personalized, consultative financial planning and investment services that enable individuals, families, and businesses to navigate complex life transitions. Founded in 1987, FAI currently manages more than $350 million in client assets nationwide. For more information about FAI Wealth Management, please visit the website at www.faiwealth.com or call 410.715.9200.

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Please remember that past performance may not be indicative of future results.  Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product (including the investments and/or investment strategies recommended or undertaken by FAI Wealth Management-“FAI”), or any non-investment related content, made reference to directly or indirectly in this blog will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful.  Due to various factors, including changing market conditions and/or applicable laws, the content may no longer be reflective of current opinions or positions.  Moreover, you should not assume that any discussion or information contained in this blog serves as the receipt of, or as a substitute for, personalized investment advice from FAI.  Please remember that if you are a FAI client, it remains your responsibility to advise FAI, in writing, if there are any changes in your personal/financial situation or investment objectives for the purpose of reviewing/evaluating/revising our previous recommendations and/or services, or if you would like to impose, add, or to modify any reasonable restrictions to our investment advisory services. To the extent that a reader has any questions regarding the applicability of any specific issue discussed above to his/her individual situation, he/she is encouraged to consult with the professional advisor of his/her choosing. FAI is neither a law firm nor a certified public accounting firm and no portion of the blog content should be construed as legal or accounting advice. A copy of the FAI’s current written disclosure Brochure discussing our advisory services and fees is available for review upon request. Please Note: FAI does not make any representations or warranties as to the accuracy, timeliness, suitability, completeness, or relevance of any information prepared by any unaffiliated third party, whether linked to FAI’s web site or blog or incorporated herein, and takes no responsibility for any such content. All such information is provided solely for convenience purposes only and all users thereof should be guided accordingly.

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