Experience, knowledge, skills, maturity, resilience, a solid network of contacts and professional trajectories full of learning and experience, this is the valuable asset that senior talent is bringing to an increasingly aging and active society.
Madrid, December 4, 2024
Caught in the technological whirlwind of the first quarter of the 21st century and immersed in the great digital transformation, Western societies face the challenge of a rapidly declining birth rate and an aging population. At the heart of this sociocultural and economic storm are senior professionals, advanced in age yet still fully capable of contributing their best. It is clear to those of us in the world of human resources and management that senior talent is becoming a key component of the workforce. In fact, it is essential for maintaining the productive fabric of any Western economy and the competitiveness of its companies. As an illustrative example of this reality, in the last decade, the working-age population over fifty-five has increased by seven percentage points, now representing 15% of all professionals actively seeking employment.
El Economic and Social Council of Castile and León and General Foundation of the University of Salamanca They have prepared the study “Economics of Longevity in Castile and León”, based on the report published in 2021 by Oxford Economics: “Investigating the Economics of Longevity in Spain”According to this study, in the last 10 years the percentage of the population over 50 years of age has increased from 39% to 44%, data that can largely be extrapolated to the rest of Spain. Other interesting data from this study relate to the percentage of total employment by age group. Workers over 65 years of age represent the largest proportion of directors and managers (12%), as well as scientific and intellectual professionals (23%), holding the most highly qualified positions in the labor market. Among workers aged 55 to 59, 4% are directors and managers, which is the next highest proportion.
In light of this data and other findings from the numerous studies conducted in recent years, such as the “White Paper on Senior Talent” Prepared by the Foundations BEINGS And ADECO, among others, believes the time has come to confront the dreaded inverted population pyramid as an opportunity.
Beyond the world of work and senior management, led by the Executive Interim ManagementSocial and economic projects are being developed in connection with the so-called "longevity economy" and its many positive aspects. It is obvious that increased longevity and improved health directly impact consumption. And not only leisure consumption, which particularly benefits all sectors derived from tourism, but consumption in all areas of the economy. Senior professionals, as a productive asset, represent a solid growth factor for any country's economy. It is essential that public administrators take this situation very seriously and facilitate policies aimed at maximizing the benefits of this clearly irreversible situation. According to recent data, International Center on Aging (CENIE), it is predicted that by 2050 the population over 50 years of age will exceed twenty-three million people, which is equivalent to half of the Spanish population.