Employment of seniors (ages 55-64) has come to the forefront due to pension reform, because raising the retirement age to 64 inevitably raises questions about the relationship between seniors and employers. 

Of course, every industry is different, but data shows that in general, in France, despite progress since 1975, the situation is less favorable than in our European neighbors with a senior employment rate of 53.8% (vs 59.6%) according to DARES.

The good news is that the debates that took place in the spring over pension reform have made us collectively ponder the issue. Beyond enforcing the publication of an "Index" and threatening financial penalties for non-compliant companies, advancing means two things to me. First, it means giving the same attention to seniors as is given to "young" candidates and employees, for whom companies deploy great creativity and commit more resources to attract and retain them. Secondly, it means changing mindsets, combating existing prejudices, to ultimately alter society's perceptions of seniors. Here's why.

Since March, we've seen numerous articles highlighting the benefits recruiters gain from hiring those aged 55-64.

The first of these benefits, often mentioned: seniors bring unparalleled and therefore valuable experience. Work experience that confers legitimacy and credibility on one hand, and human experience that brings perspective, serenity, and confidence on the other.

The second advantage: intergenerational transfer. The experience mentioned above is obviously synonymous with value, which, if well-transferred via mentoring programs for example, is beneficial for the organization and a performance guarantee. Especially when we know that training is one of the things employees value most from their company.

Finally, the third advantage, though it should be put in perspective, in my opinion: seniors are more numerous and available candidates. By 2040, the aging French population is inevitable. According to the Insee, the percentage of people aged 60 and over in France rose from 19% in 1991 to 26.6% in 2020, and it will continue to grow. And a second figure from DARES: in 2021, only 56% of those aged 55-64 were employed, compared to 81.8% of those aged 25-49. When we know all companies are competing for the same "young" target, whose attention is harder and more expensive to capture, we see an interesting opportunity. But let's not forget: many French people, opposed to pension reform, want to retire earlier. Added to this is a Harvard Business School study on the great resignation, saying that in the US, seniors were twice as likely during Covid to decide to retire early. So, we need to be cautious about this third benefit.

The last point is cost. Yes, seniors have higher salaries than newcomers to the workforce. But given the value they add, being often already experienced, quickly operational, and described as more stable (in fact, according to an OpinionWay survey, 55% of those under 35 consider sending their CVs to other companies, compared to 36% of those aged 50 and over), this argument can be easily relativized if we adopt an ROI-centric approach.

Based on this observation, we should encourage companies to give the same attention to this demographic throughout the cycle (recruitment, retention, engagement) and even go a step further in trying to change mindsets.

↳ But how to go about it?

To attract them, start by including them in your HR marketing strategies. What I observe is that many recruitment campaigns are fronted by young graduates' faces. Many recruitment initiatives use platforms like TikTok, even though companies might benefit from targeting those in career transition. To address seniors, beyond mentioning age in job offers, make them visible and appreciated. Choose the channels they frequent and tackle topics that concern them. Beyond making your HR marketing efforts more effective, I firmly believe this will help integrate seniors into society as a force, thereby changing perceptions on a larger scale (as companies have done for certain minorities before).

Then retain them by ensuring they are welcomed into a "safe place." Even though seniors seem more "loyal" than younger people (cf. the OpinionWay study above), it's important to ensure their proper integration to retain them. This involves combating ageism, a form of discrimination they can often face in the workplace, fostering connections with other employees, and conducting onboarding with as much care as you would for others. It’s crucial to value them, by giving them the recognition they deserve, adapting management systems, providing feedback, and maybe even offering a specific HR support framework.
Final important note: give them a meaningful role. Young people don’t have a monopoly on seeking purpose, wanting to be valuable to their company and society at large. Perhaps many over 50 question themselves... Without presuming seniors' aspirations, giving them a key role in transmission and training younger generations should help them thrive. Keep training them as well. Re-skilling or up-skilling seniors is essential for the company (acquiring new skills, updating) and for them too! They will always want to learn!

Beyond the political debate, senior employment is indeed a true societal issue where businesses and organizations have a noble role to play in changing perceptions! Let’s get to work ;) .