Harnessing the full value of senior workers

Belgium is currently facing a unique challenge regarding the employment of senior workers. Despite evidence showing that senior workers are more engaged, better problem solvers, and more forward-thinking, companies continue to let go of employees aged 55+ amid a talent gap.

This paradox is fuelled by deeply ingrained prejudices and clichés, such as the misconception that senior workers are slower learners and less adaptable. Such biases persist even though surveys and practical experiences showcase the considerable value and contributions that senior workers bring to the workplace.

Adding to these cultural challenges are the regulatory constraints that often fail to support the integration and retention of senior workers. For instance, historical policies and fragmented legislation contribute to the difficulty in reversing these trends.

Consequently, our round table focused on exploring the broader implications and opportunities for effectively harnessing the potential of senior workers in bridging the talent gap.

During the discussion, several critical themes were addressed:

• Opportunities and constraints in regulation regarding senior workforce.
• Fostering engagement and productivity of senior workeforce, including after retirement (networking and advocacy).
• Addressing cultural differences between newer generations and senior workers.
• The cost implications of laying off senior workers versus recruiting and training new employees.

Our panellists focused on the cultural and regulatory barriers impacting senior workforce.

Veerle Timmermans emphasised the necessity to change societal prejudices that label senior workers as slower and less adaptable. These prejudices are deeply embedded, partly because traditionally, policies allowed and even encouraged early retirement for workers starting as early as age 50. This has led to a culture where retirement is viewed as a right after a certain age, contributing to the reluctance to retain senior workers in the labour market. To create a more inclusive culture, it is crucial to shift these perceptions and recognise the value that senior workers add to the workforce.

Jerome Aubertin discussed the historical evolution of legislation affecting senior workers. While bridge pensions were effective, many restructuring cases still see trade unions requesting them, reflecting a continued reliance on such measures. Moreover, end-of-career time credits and frameworks like CBA 104, introduced in 2013, mandate employment or development plans for senior workers. However, these initiatives often fall short as they are perceived as mere obligations rather than opportunities by many companies, lacking genuine investment from employers and unions. He also pointed out that biases against senior workers, such as being less flexible and tech-savvy, are persistent. Hence the importance of implementing stronger anti-discrimination laws and incentivising flexibility to encourage continued employment for senior workers.

Joelle Boxus underscored the importance of cross-generational collaboration within organisations. She argued that segregating senior workers into specific programs could inadvertently stigmatise them, suggesting that inclusive strategies that benefit all age groups are more effective. She also pointed out that in countries like Belgium, the lack of timely legislative updates has hampered the ability to seamlessly integrate intergenerational training and next-gen programs that could foster better collaboration and knowledge transfer.

Cindy Dewitte highlighted the practical challenges of a short-term vision in cost management, where the hidden costs of recruiting and training new employees often outweigh the benefits of retaining experienced senior workers. She added that fostering a sense of purpose is crucial for engagement.

At her company, employees that are passionate about their job are more likely to stay engaged longer. However, not all senior workers can continue in physically demanding roles, highlighting the need for adaptable career paths that align with their capabilities.

She illustrated her point by sharing a compelling example of how retaining experienced workers can benefit a company: she recently found herself in a situation where her company was unable to find a replacement on the job market with the same level of experience and knowledge as a retired employee. By mutual agreement, it was decided to bring the retired employee back to the organisation after 4 years of retirement, which is a significant period.  Although he was no longer aligned with the company’s software used today, he brought his expertise by training other employees, showing them the ropes, and sharing his experience with historical knowledge of the company and its developments.