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The Golden Opportunity: Top Five Reasons Organizations Should Engage their Aging Female Workforce

June 11, 2024

Diverse teams are a significant asset to businesses, encompassing different ages, backgrounds, genders and races. However, older female workers often get overlooked as people turn to younger generations for solutions.

Organizations can benefit from the creativity, enhanced productivity and the more positive and inclusive work environment that an experienced worker provides.

So, how does a firm address ageism?

Understanding each woman’s unique challenges can help create equal opportunities for advancement. Women tend to promote other women to senior positions two to five times more often than men, indicating that increasing the number of female leaders, regardless of age or background, will pave the way for all women. After all, a diverse team is incomplete without a diverse leadership team.

Five reasons to support and retain the aging female population

  1. Stability and Loyalty: Older workers tend to have lower absenteeism rates and are less likely to switch jobs frequently. This stability reduces the high cost associated with frequent turnovers.
  2. Skills and Experience: Older workers have established expertise and honed skills, which benefits the entire team.
  3. Work Ethic and Professionalism: Many older workers have a strong work ethic and professional demeanor. They help the whole team understand the importance of meeting deadlines and delivering quality work.
  4. Reduced Recruitment Costs: Older workers tend to have a longer tenure at one organizations, reducing the need for expensive recruitment efforts.
  5. Diverse Perspectives and Innovation: Older workers bring unique viewpoints based on their experience and longevity in the workplace, which benefits today’s multigenerational workforce.

Though much of this information has been known for years, little progress has been made. Organizations can start by better understanding the challenges of aging female workers to help them remain productive at work and to share their knowledge.

Women face caregiving and family responsibilities than their male counterparts. It goes far beyond their childbearing and childrearing years. Women ages 55 to 64 spend twice the number of hours providing care for children, grandchildren and parents, compared to men, according to the Center for American Progress.

Start with recruitment

Let’s leave age out of the equation and focus on a person’s experience and skillset. Minimize bias in recruiting by removing key personal information from the application process.

Create an inclusive culture that doesn’t include shame or repercussions for taking advantage of company policies.

  • Widen parental leave policies to include caregiving for aging parents and new family members.
  • Create an employee resource group for women to foster discussion on policies and entrepreneurship within the female workforce. This also brings together women of various ages to discuss important topics that affect them.
  • Expand mental health benefits to support women in perimenopause/menopause. All women in the workforce who reach this age will be affected by this life change, which could lead to feelings of depression, forgetfulness and being tired, according to the Women’s Health Concern.
  • Provide financial wellness education on Social Security, widows benefits and Medicare.
  • Create positions that focus on job sharing and flexible hours to promote work/life balance.

When it comes to supporting a diverse workforce, an organization’s work is never done.  Forward-looking, progressive companies have ingrained inclusivity into their culture. It should be constantly evaluated and evolve to ensure women of all ages are treated fairly and are championed for their work.

The experienced team at Oswald Companies can help your organization create a culture and benefits plan that will foster employee health and inclusivity, while also protecting the bottom line.


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