Key Takeaways
- Traditional ideas about retirement and work are outdated in our modern knowledge-based economy.
- Today's older adults are healthier and more capable than previous generations, challenging the notion that age equals decline.
- Demographic shifts and declining birth rates mean that older workers will comprise a significant portion of the future workforce, making it crucial to combat ageism.
- Diverse, multigenerational teams are more innovative and less susceptible to “groupthink,” leading to better problem-solving and stronger outcomes.
- Embracing longer working lives through lifelong learning and flexible work arrangements is essential for economic stability.
We are living longer. We are healthier for longer. And yet, we are still chained to work constructs created in the age of coal and steam.
When we look back at the Industrial Revolution, we often focus on the machinery, the factories, and the sweat-soaked reality of physical labour. But just as important were the social constructs it left behind. Work was defined by physical strength, productivity was measured in output per hour, and age was viewed as a clear dividing line: the young worked, the old rested. Retirement at 60 or 65 became a marker not only of leaving employment but also of stepping away from relevance.
Fast forward to today, and the world looks radically different. Technology has shifted the balance: our economies are less dependent on manual labour and more reliant on knowledge, creativity, and mental agility. Yet, despite these transformations, many outdated assumptions about age, productivity, and retirement still persist.
“This mismatch between how we think about age and how work has evolved lies at the heart of ageism. And unless we break free from these outdated constructs, society will face not just cultural but also economic strain.”
The new reality of age and work
Over the past 100 years, the average life expectancy has risen from 59.2 years to 81 years for men, and from 63.3 years to 85.4 years for women. What’s remarkable isn’t just the extra years, but that many of these years are healthy, capable, and active.
Consider this: studies show that the average 70-year-old today has the cognitive sharpness of a 53-year-old in 2000. Physical measures such as grip strength and lung function are also on par with what 56-year-olds had just two decades ago. In other words, “70 is the new 50” is not just a marketing slogan; it’s a measurable reality!
At the same time, demographics are shifting. In many advanced economies, birth rates are falling, which means fewer young workers entering the labour market. By 2050, nearly 30% of the global workforce will be aged 50 or over. Already in the United States, almost one in five people over the age of 65 is still employed, which is up from just 11% in 1987. The number of workers aged 75 and older has more than quadrupled since the 1960s.
This is not simply about individuals choosing to work longer. It is also about necessity. In 2022, only 46% of households had any retirement savings, and among those in their 60s, the median amount saved was just $162,000, far below what is needed for decades of financial independence.
For many older adults, staying in work is not only about engagement and purpose, but also about financial survival.
Why ageism holds us back
Despite these realities, ageism remains one of the most pervasive and least challenged forms of bias. Older workers are often viewed as less adaptable, slower to learn new skills, or more resistant to change. This couldn’t be further from the truth.
When knowledge is shared across multiple generations, organisations thrive.
Diverse teams, due to their varied backgrounds, beliefs, and experiences, bring unique perspectives, skills, emotional intelligence, and wisdom that no textbook or training program can replicate to the table. When these individuals collaborate, they are more likely to approach challenges from different angles, which leads to better problem-solving abilities and more innovative solutions.
“Teams made up of similar demographics are prone to ‘groupthink', where everyone thinks alike and settles on familiar solutions.”
Why it makes sense economically
Recent research states that one in four HR professionals believes 50 is “too old” for a new hire (AHRI/AHRC).
The implications of not addressing this age discrimination are stark. In 1950, there were more than seven working-age adults (20–64) for every retiree across developed countries. By 2010, that ratio had fallen to just over four. By 2050, it will likely drop to two.
Think about what that means for us; two workers supporting the tax base and pension funds for every one retiree. The math isn’t mathing for me. Without reimagining how long people work, economies will struggle under the weight of pensions, healthcare, and social support costs.
But the flip side is more hopeful: if societies embrace longer working lives, we don’t just avoid a crisis, we actually unlock new potential. Economists call this the “silver economy,” where the contributions, spending, and innovations of older adults become a driver of growth rather than a burden.
A new vision for age and work
So what does breaking these constructs look like?
- Flexible Retirement: Instead of fixed retirement ages, we need systems that allow people to phase out gradually, balancing income with personal time.
- Lifelong Learning: Education must be ongoing, not front-loaded. With technology evolving so rapidly, workers in their 50s or 60s need as much access to reskilling as those in their 20s.
- Workplace Design: Age-inclusive workplaces, ergonomic design, flexible schedules, and mentoring programs allow everyone to thrive, regardless of age.
- Cultural Reset: Above all, we need to shift the narrative. Age is not a decline curve; it's a continuum. The idea that people stop contributing after 65 belongs in history books, alongside steam engines.
Passing down wisdom while moving forward
Perhaps the most powerful argument for keeping older people engaged in work is not financial, but human.
In this sense, work in later life is not only about sustaining oneself but also about enriching society. It’s about ensuring that knowledge isn’t lost, but instead built upon, layer by layer, generation by generation.
It’s time to update the story. Age should no longer be a boundary line that dictates when people stop contributing. Instead, it should be seen as a resource: a period of life where capability, creativity, and wisdom can flourish, given the right structures.
Breaking ageism isn’t just a matter of fairness; it’s a matter of survival and progress. If “70 is the new 50,” then our workplaces, policies, and mindsets need to evolve accordingly. After all, the future isn’t only young. The future is ageless.
At Aquent, as an endorsed age-inclusive organisation, we’re proud to be leading this charge, and we invite progressive organisations to partner with us. Let’s build workplaces where everyone’s experience is seen, valued, and put to work.
Contact our team to discuss your hiring needs to build a diverse, multigenerational workforce.
About the author
As the Managing Director, my role is to continually review, develop, diversify and grow our business in Australia. Looking at our strategic direction, financial management (budgeting, financial forecasting, P&L, etc), people management, local sales and marketing, talent acquisition, retention and performance management. I'm an enthusiastic, positive and high impact leader with a proven ability to inspire high performing teams. I have over 15 years experience across general management, solutions focused sales, operations, finance and workforce solutions within multinational businesses. What I love: communicating and connecting with my colleagues and our clients to create the ultimate partnership. I'm good at: future-focused thinking, streamlining business operations, driving growth and inspiring high-performing sales teams. I have demonstrated experience in creating a client-centric approach along with implementing financial controls, productivity improvements and change management. What inspires me: my team, results, high energy, a growth mindset and positivity. What is my leadership style: I like to lead with integrity, self-awareness, courage, respect, empathy, and gratitude. I'm passionate, energetic, genuine and decisive and I look to establish a strong rapport with all of our staff both locally and internationally. What are my strengths: a deep understanding of the APAC region, identifying opportunities for growth, strategy, storytelling, people and culture and P&L management. Who I am outside of work: a partner, a very hands-on mum to three amazing tiny humans and fur pawrent to the world's laziest border collie! As someone with a ridiculous (and somewhat annoying) amount of energy, I can usually be found at the gym, the beach, on a trampoline, soccer field or on a climbing frame hoping to out-energise my kids!
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