Companies Shift to Skills-First Hiring as Workforce Ages, Opening Doors for Older Employees
Businesses are abandoning traditional age-based career paths in favor of skills-focused approaches as workforce longevity increases. Companies like L’Oréal and Mastercard are implementing intergenerational mentoring and internal talent marketplaces to keep experienced employees engaged and technically current.
The Changing Workforce Landscape
By 2033, nearly one-third of individuals over 70 are expected to remain in the workforce, according to reports from recruitment firm Korn Ferry. This demographic shift is creating what analysts describe as a “profound structural challenge” for employers seeking to maintain skilled, motivated teams across careers spanning 40-50 years. The report indicates that almost half of baby boomers and more than one-third of Generation X feel excluded from opportunities to learn new skills and technologies.