By Yvette Mucharraz y Cano* and Karla Cuilty Esquivel **
It is a reality that the world is aging. Data from the World Health Organization indicates that, by 2050, older adults (people aged 60 and over) will double. This process is accompanied by a reduction in the fertility rate, which will mean that, in that same year, one in six people worldwide will be over 65 years old. A factor to analyze in Mexican society is the age at which someone is considered an older adult. In other economies it is defined as 65 years old, however, in Mexico it is considered 60 years old.
Organizations should adapt to new demands based on a growing group of older adults, who, depending on their social status, could have greater availability of resources to purchase products, which is known as the “silver economy.” Likewise, these older adults often have more free time to consume in a wide range of services, such as those related to health or the tourism sector.
The experience of women and men of these ages would help in identifying their needs, appropriate communication mechanisms, as well as relevant products and services that this new market niche demands. According to Lifschultz (2024), only 15% of older adults feel represented in online advertisements or communications. It could be assumed that this population group has no interest or communicates less frequently through social networks; However, a study by the Pew Review Center (2024) indicates that 45% of adults over 65 years of age in the United States use social networks frequently. In addition, the digital gap between people under 30 years of age and those over 65 has been closing; in 2021 it was 71 points and currently it is 39.
Another factor of interest for organizations regarding older adults is that they spend more easily than other population groups, are loyal to brands and influence the purchasing decisions of other generations. For all these reasons, it is essential to keep talented people of these ages within organizations to take advantage of the market they represent and influence.
Given this reality, companies should be prepared to attract and maintain experienced talent, that is, older adults. As for women, given that their life expectancy worldwide is, on average, four years longer than that of men (74.2 women versus 69.8 men), it is recommended that organizations retain their talent for a longer period of time. prolonged and meet their needs.
The Economic Commission for Latin America (ECLAC) and the International Labor Organization (2018) mention that Latin American women tend to stay working for longer, due to their low remuneration and little access to pensions. Through appropriate schedules and work schemes consistent with their needs, it is possible to retain female talent throughout their professional life. Another option would be to promote the labor reintegration of women at different stages and especially women aged 50 and over.
On the other hand, older adults experience important changes in their physical, sensory and cognitive abilities, especially after age 75. Therefore, generating inclusive spaces, both in the physical sphere and on digital platforms, is an essential element to connect with them.
Cortés-Topete and Tavares-Martínez(2022) recommend having an intergenerational strategy where different generations exchange ideas and collaborate with each other. In work environments, these types of strategies are essential to successfully integrate the range of employees, clients, suppliers, shareholders, among others, and enrich the business vision.
Maintaining experienced talent in organizations requires recognizing their knowledge and experiences as a valuable input, their feedback with younger people can reduce learning curves and obtain mutual benefit.
Contact:
* Professor in the area of Personnel Management and Director of the Research Center for Women in Senior Management at IPADE Business School
** Researcher at the Women in Senior Management Research Center at IPADE Business School
The opinions expressed are solely the responsibility of their authors and are completely independent of the position and editorial line of Forbes Mexico.
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