In a world of accelerating digital transformation, attention is turning to the role of older adults in the labor market, as the nature of jobs and required skills change at an unprecedented pace.
Despite the prevailing belief that young people are the main driver of innovation in the digital economy, there is a growing debate about the ability of older employees to contribute to this field through their deep expertise and strategic vision.
Innovation relies on a combination of technical and creative skills and practical experience, which raises the question of the ability of older adults to adapt to new technologies. Are they a critical component of digital innovation, or is the technological gap limiting their capabilities?
A Growing Role in the Labor Market
The global labor market has witnessed significant changes due to an aging population, with older adults playing an increasing role in labor market innovation.
With advances in digital technology and the importance of lifelong learning, some companies and governments have a greater awareness of the potential of older professionals and their ability to effectively participate in shaping the modern economy.
Many studies have also highlighted the importance of not neglecting this segment of the population in various economic activities, and of leveraging their extensive experience, which will positively impact overall economic performance.
Growth in the number of people aged 65 and older worldwide until 2050 (according to UN data)
Year Number of older persons (millions)
2018 258
2021 761
2022 771
2030 994
2050 1,600
According to the Pew Research Center, 19% of people aged 65 and older were employed in the United States in 2023, compared to only 11% in 1987.
The U.S. Bureau of Labor Statistics projects that by 2030, workers aged 65 and older will be the fastest-growing segment of the labor market due to rising life expectancy, changes in retirement savings plans, and individuals’ desire to remain active and productive.
The 2024 Workforce Report from JetsettApp indicates that 34.6% of older adults express a desire to continue working after retirement, driven primarily by the pursuit of financial stability (37.7%) and the need for social interaction (33.3%).
Obstacles for Seniors in the Digital Age
Despite their desire to work, older adults face significant obstacles when reentering the workforce.
According to the report, keeping up with technology is the most significant challenge, as rapid technological advancements can be intimidating for many.
The report also indicated that the second most significant challenge after keeping up with technology is ageism, which is a persistent barrier to employment opportunities due to outdated stereotypes about older workers.
In addition, more than 40% of older adults prefer remote or flexible work options, especially since they sometimes take on caregiving roles for their spouses or grandchildren and must deal with their changing health issues, opportunities that are not widely available.
Addressing these challenges requires promoting digital inclusion, adopting fair hiring practices, and developing workforce policies that ensure age diversity and accommodate diverse lifestyle changes.
While younger people are perceived as more adaptable to technology, older adults offer a different value proposition when it comes to innovation.
Among the most prominent of these values is deep expertise in strategic decision-making. Older adults possess decades of practical experience that gives them broader perspectives in problem-solving. They also possess the ability to think critically and analyze, drawing on past experiences.
Unlike younger adults, older adults tend to carefully analyze risks before implementing innovations, enabling them to manage risks more effectively.
Digital Learning: An Opportunity
Digital learning platforms have emerged as key tools for promoting workforce inclusion. Platforms like GetSetApp hosted more than 233,000 training courses for older adults in 2023, focusing on finance and employment, reflecting the significant demand for career development and financial literacy.
Governments and companies are also investing in workforce development programs targeting older employees.
A program like Senior Employment in the United States provides practical training for low-income individuals over the age of 55, helping them secure sustainable jobs in a changing job market.
In other parts of the world, resume-building programs, LinkedIn training, and social media skills, along with learning basic software like Google and Microsoft tools, have helped thousands of seniors re-enter the workforce with confidence.
Moreover, digital literacy training, covering topics like email security and financial management, helps raise seniors’ awareness of potential cyber fraud, bridges the technology gap, and increases their ability to keep pace with the digital transformation.
Age is no barrier
Many seniors continue to play a key role in leading some of the world’s most successful companies. Perhaps one of the most prominent examples is Warren Buffett, 93, CEO of Berkshire Hathaway, who remains one of the world’s most influential investors.
Despite his advanced age, he remains actively involved in his company’s strategic decision-making, offering his in-depth analysis of financial markets at annual shareholder meetings, which attract wide attention from investors around the world.
Alongside him, Apple CEO Tim Cook (63) stands out as one of the most prominent leaders in the technology industry.
Since taking over the company in 2011, he has succeeded in strengthening Apple’s position by launching innovative products such as advanced iPhones and modern Mac computers, in addition to focusing on sustainability and renewable energy in manufacturing processes.
Ginni Rometty (66), the former CEO of IBM, played a pivotal role in transforming the company’s business model toward artificial intelligence and cloud computing, helping maintain the company’s competitiveness in the ever-changing technology market.
Outside the corporate world, renowned Japanese author Haruki Murakami (75) is an example of the continued influence of older people in the fields of culture and creativity.
Despite his advanced age, Murakami continues to write globally popular novels and contribute to shaping the literary landscape through his works that blend philosophy, fiction, and reality.
These characters and others prove that age is not a barrier to innovation and leadership; rather, it can be an advantage that gives its owners the wisdom and experience needed to make influential strategic decisions in various fields.
The Economic Impact of Senior Citizen Participation
A study published in the Economic American Journal indicated that a 10% increase in the population over 60 could slow economic growth by about 5.5% if older people are not actively integrated into the labor market.
Conversely, integrating this population into the workforce can boost productivity, reduce labor shortages, and support economic stability.
According to research conducted by the Kauffman Foundation, older people are twice as likely as younger individuals to start successful businesses.
Global data also indicates that the proportion of older people in the workforce has been increasing in recent decades.
In OECD countries, the labor force participation rate of individuals aged 55 to 64 increased from 46% in 2000 to 67% in 2022, as a result of pension reforms.
The World Bank’s MENA Economic Monitor also highlighted the importance of embracing innovation and entrepreneurship in the region, with a focus on integrating all age groups, including older people, into the digital economy.
Globally, the number of people aged 65 or older is expected to double between 2024 and 2074, reaching 20.7% of the total population.
This growth in the proportion of older people poses challenges for global economies, particularly in meeting their needs and ensuring the sustainability of social protection systems.
Population aging poses a significant challenge in some countries. For example, the percentage of the population over 65 in Japan is 30.2%, and in Italy it is 24%.
Countries with the highest percentage of older people (65 years and older) according to 2023 data
Rank Country Percentage
1 Monaco 36%
2 Japan 30%
3 Italy 24%
4 Finland 24%
5 Germany 23%
These high percentages require effective policies to support the participation of older people in the labor market and benefit from their expertise. This highlights the need to strengthen policies that encourage their continued participation in the labor market to ensure that societies benefit from their expertise and achieve sustainable economic growth.
Therefore, it is essential to reframe the perception of older people in the labor market. Instead of viewing them as a burden, their role should be recognized as individuals with extensive experience, innovators, and valuable components of the digital economy.
Governments, businesses, and society as a whole must invest in lifelong learning strategies, fair employment, and digital inclusion to maximize their potential.
Promoting fair employment policies, supporting digital learning initiatives, and changing stereotypes about older people can contribute to the sustainability of the digital economy and unleash the potential of all age groups.
