Inclusion of People 50+ in Practice: How is Hiring 50+?

The job market is constantly changing, and age diversity has become a central theme in discussions about inclusion. With the population ageing at a rapid pace, more and more professionals aged 50 and over are still active and play crucial roles in companies. However, the reality of hiring for this age group still faces many challenges, including prejudice and structural barriers.

The Ageing Population and the Labor Market

Recent figures show that the world's population is ageing. According to the World Health Organization (WHO), the number of people aged 60 or over is expected to double by 2050, reaching 2.1 billion. In Brazil, this phenomenon is also evident: the IBGE points out that, in 2021, more than 37 million Brazilians would be aged 50 or over, which represents around 17% of the total population. With this ageing, many of these people remain in the job market or are looking for new opportunities, which highlights the need for companies to adapt to age diversity.

The Importance of Age Diversity in Companies: What are the Benefits?

Including 50+ professionals in teams is not just a matter of social responsibility, but a strategy that brings concrete benefits to companies. Age diversity promotes the exchange of experiences between different generations, stimulates innovation and improves the working environment. Older professionals tend to have a wealth of knowledge, a consolidated network of contacts and problem-solving skills that can add a lot to the organization's success.

A study by McKinsey & Company shows that companies with more age-diverse teams tend to have better financial results. This is partly due to their ability to attract and retain talent from different generations, creating a more collaborative and innovative working environment.

Which Generations Are in the Labor Market Today?

Currently, the job market is home to up to five different generations:

1. Veterans (or Silent Generation)born between 1928 and 1945, they value hierarchy, stability and are highly committed. Although many are already retired, some still remain in the market because they feel that work gives meaning to their lives. They prefer stable environments, with well-defined routines, where they can continue to contribute productively.
2. Baby BoomersBorn between 1946 and 1964, they grew up at a time of economic and social expansion after the Second World War. This generation values job stability and often spent decades in the same company. Known for their engagement in social movements during their youth, today many Boomers are planning their retirement but still remain active in the job market. Their focus is on short- and medium-term benefits, such as financial security and physical health.
3. Generation Xborn between 1965 and 1980, witnessed major technological changes, such as the emergence of personal computers and the internet. They were the first to value work-life balance, which is reflected in the way they approach their careers. Today, many of this generation are in leadership positions and living at the peak of their careers. Characteristics such as independence and practicality define them, and they seek immediate rewards, valuing physical health and well-being.
4. Millennials (or Generation Y)born between 1981 and 1996, were the first to grow up with the internet and globalization. They are known for their creativity, innovation and ability to adapt to technological changes. They value diversity and collaboration and prefer less competitive working environments. For this generation, opportunities for personal and professional development are fundamental.
5. Generation Zborn after 1997 were born into a totally digital world. They are multitaskers and extremely adaptable to new technologies. At work, they value flexibility, both in terms of working hours and location. Mental health is a priority, and many prefer the hybrid work model. This generation is starting to enter the market and is looking to combine studies and work.

The coexistence of these generations in the same work environment presents both challenges and opportunities, making the management of age diversity essential for the success of organizations.

Why Hire People 50+?

Hiring people 50+ brings numerous advantages for companies. These professionals usually have extensive experience, in-depth knowledge of the sector and a strong commitment to their responsibilities. Among the main advantages are:

• Experience and expertise: Professionals 50+ bring a wealth of experience that can be invaluable, especially in areas that require specific skills or in-depth knowledge of the market.
• Loyalty and retention: Research shows that older workers tend to be more loyal to companies and stay longer in a job, reducing turnover costs.
• Mentoring and development: Professionals 50+ have the ability to act as mentors for younger generations, passing on knowledge and helping to develop new talent.

However, despite these advantages, there are still barriers to hiring older professionals. Some companies are hesitant to hire people 50+ due to prejudices related to ageism, as well as concerns about higher costs, such as health insurance and possible adaptations in the workplace.

How to Mitigate Barriers to Hiring 50+

Overcoming the barriers to hiring older professionals requires a change of mentality on the part of companies. This can be done through actions such as:

• Age Diversity Training: Companies can implement awareness programs to combat age-related prejudices.
• Adaptations in the workplace: Flexible working hours and ergonomic adjustments are practices that help make the environment more inclusive.
• Requalification programs: Offering training and development opportunities so that professionals 50+ can update their skills is an effective way of ensuring that they remain in the job market.

The Power of the Five Generations in the Labor Market

The coexistence of five generations in the job market is a unique opportunity for companies. Professionals from different age groups bring different perspectives, which can be a driving force for innovation and creative problem-solving. The combination of experience and new ideas can result in a richer and more dynamic corporate culture.

Learn about companies that have succeeded in attracting and retaining 50+ talent

Several companies have already recognized the benefits of hiring older professionals and have implemented specific programs to attract and retain them.

 Santander Bank

O Santander stands out for the creation of the "55+"The initiative is focused on hiring professionals over the age of 55. The initiative aims to promote age diversity and ensure that older employees share their experiences with younger generations. In addition, the bank offers a series of training courses aimed at updating technology and adapting to new market dynamics.

Magalu

O Magazine Luiza (Magalu) is another company investing in age inclusion. In the program "Experience 50+"The company is looking to hire professionals over the age of 50 for positions in its stores and distribution centers. Magalu recognizes the importance of the experience of these professionals in creating a more diverse work environment that connects with the profile of older customers

Good Contracting Practices

Companies wishing to implement or improve their age diversity policies can follow some good practices:

• Inclusive job ads: Review job descriptions to ensure that they do not implicitly exclude older candidates.
• Internship programs for 50+: Create internship or trainee programs aimed at older professionals who want to change careers or return to the job market.
• Retention policies: Offer benefits that encourage older professionals to stay, such as flexible working arrangements and career plans aimed at this age group.

Good Practices in 50+ Development Programs

In addition to hiring, it is important for companies to invest in continuous development programs for professionals 50+. This includes:

• Technical Training: Offering courses and training in new technologies and tools that may be necessary for the performance of their duties.
• Reverse mentoring: Encouraging the exchange of knowledge between generations, where younger professionals teach new skills to older ones, and vice versa.
• Career support: Create development plans that take into account the aspirations and strengths of professionals 50+.

Conclusion

The inclusion of 50+ professionals in the job market is a valuable opportunity for companies, both in terms of retaining experienced talent and promoting a diverse and innovative environment. Companies that adopt good hiring and development practices for this age group tend to stand out, benefiting from the coexistence of five generations in their teams.