Old people are slow and cranky, young people are entitled and lazy, and middle-aged people are old-fashioned, right? Age-based stereotypes are applied to every generation in the workplace.

The truth is, age diversity should be a priority for employers everywhere. The definition of age diversity is simply the acceptance of employees of different ages in the workplace.

There are four main generations who are currently active in today’s workforce:

• Baby Boomers

Baby Boomers are roughly between the ages of 55 and 75. This generation tends to seek advancement and be goal-oriented in their careers. They value in-person interaction and structure or hierarchy in the workplace.

• Generation X

Members of Generation X are roughly between the ages of 40 and 60. They are approaching the midpoint of their careers and potential peak-earning years.

As the first generation to experience both parents working outside the home, they tend to be hardworking, adaptable, and moderately digitally savvy.

• Generation Y (Millennials)

Millennials are those between the ages of 20 and 40. They are characterised as tech-savvy, achievement-oriented, and focused on using their professional careers to better the world.

These workers seek to make their work mean something more than just a paycheck.

• Generation Z

Generation Z is the youngest group in the workforce, between the ages of 18 and 25. This generation seems the most motivated by salary. They are the first true digital natives, having never grown up without the internet.

Gen Z is also one of the most diverse generations to enter the workforce in history.

5 benefits of age diversity in the workplace

Like other forms of diversity, improving age diversity has a direct impact on the success of an organisation. Here are the biggest advantages of age diversity in the workplace.

1. Increase productivity

Age diversity is shown to foster more productivity at work. This leads to a range of secondary benefits, including improved profitability, more competitive product pricing, better employer branding, and the opportunity to raise market share.

2. Improve skill diversity

Employees of different ages bring different skills, experiences and viewpoints to the table, helping to increase innovation and creative problem-solving.

Younger generations may be more adept at social media and tech, while older generations offer leadership, interpersonal skills, and their own approach to problem-solving.

Age-based diversity allows businesses to harness all these capabilities and create a team that complements one another.

3. Build an inclusive business

An inclusive business is one that supports and embraces people of all backgrounds. Organisations that emphasise all ages, genders and races are more innovative and profitable, and better at problem-solving.

4. Create mentorship opportunities

Age diversity makes it easy to offer opportunities for your team to upskill collaboratively.

Younger workers who may be well-versed in social media and emerging tech can help less tech-savvy workers stay up to date. An older worker who has the wisdom of experience can take on a mentee or intern.

This strengthens the company culture and loyalty among employees, as well as helps save on formal training costs.

5. Improve employee retention

Workers aged 50 and above have the highest levels of engagement in the workplace. Engaged workers are motivated workers who tend to stay longer with an organisation.

Promoting age diversity

Age diversity can be achieved with inclusive hiring practices and creating an employee experience that’s accessible to and supportive of everyone.

• Create an age-inclusive hiring process

Overcome age bias with techniques such as blind hiring and skill testing. Removing age from hiring decisions empowers recruiters to make their choices based on merit, rather than age.

• Be strategic with benefits

Attract age-diverse candidates with a benefits package tailored to their specific lifestyle needs. Baby Boomers may be interested in phased retirement programmes, coaching and financial support. Millennials are more likely to appreciate student loan help, healthcare and flexible work options.

Make sure your benefits reflect the diversity of your employees.

• Provide thoughtful programmes

Internships and apprenticeship schemes are often only open to new graduates or those with few years of experience. Opening these types of opportunities, as well as revamping your process for new hires, can set employees of all ages up for success.

People miss out on specific skills for all kinds of reasons. Require employees to go through a tech orientation session, customer service workshop, HR training, and other programmes that will help all team members thrive.

• Build an inclusive work environment

Rather than in terms of “old” or “young”, think about what stage of life each person is in and how you can support them. Flexible work is one way to help employees of all ages.

Parents need the flexibility to design their workday around caretaking. Students may prefer working from home to allow them to finish a secondary degree. Older workers may have mobility issues, preferring to work from home rather than commute.

Allowing your strategies to work across different needs will make your company attractive to people of all ages.

This article first appeared in Vervoe.

At Vervoe, their mission is to fundamentally transform the hiring process from mediocracy to meritocracy.