On Embedding the Ageing Workforce in Corporate Strategy

This episode of Dreams with Deadlines with Host Jenny Herald showcases the work of two dynamic women – each with a complementary area of expertise – who have joined forces to address how over-50 workers factor into the future of our global economy.

Dominique Ben Dhaou and Ellen Kocher, co-authors of "Wake-Up, Shake-Up, Thrive!: How to Lift Up Your Life in Your 50’s and Beyond — Swiss Secrets to Not Growing Old," share with us their strategies for retaining older employees and building a sustainable framework for helping corporations of all sizes keep their organization’s healthy and nimble.

What you will learn

• The fact that only 8% of companies internationally have included age in their diversity, equity and inclusion initiatives
• Why it’s critical that we embrace a five-generation workplace model
• The five dimensions of mental and physical health that corporate leaders and individual employees should be addressing
• Why measuring efficiencies in the workplace is a holistic exercise, requiring a systematic assessment and trackable, qualitative measures
• The co-authors’ book, “Wake-Up, Shake-Up, Thrive!: How to Lift Up Your Life in Your 50’s and Beyond — Swiss Secrets to Not Growing Old”

Show notes

• [00:02:16] Introducing two women using their complementary talents to reshape workplace cultures with their vision for creating sustainable, purposeful employment for people of all ages.
• [00:03:06] About the huge demographic shifts that will impact the workplace of the (not-so-distant) future and how Dominique and Ellen are leveraging their decades of experience to help corporations navigate with customized, structured action plans.
• [00:06:47] A closer look at the challenges posed by a rapidly aging Western workforce, including impacts to productivity and availability of skilled workers.
• [00:08:10] Why embracing a five-generation workforce is relevant and its implications:
  • Businesses are suffering the economic consequences of an insufficient supply of employees with the skills and competencies to serve clients.
  • Older team members often feel disengaged, disenfranchised or dis-incented.
  • Misconceptions and biases tend to flourish if left unchecked,
  • Retaining (and respecting) older workers communicates a psychologically safe workplace which can cultivate loyalty in younger workers as well.
• [00:16:50] How diversity, equity, inclusion initiatives include age in only eight percent of companies globally. The bright spot: 75% of CEOs recognize the importance of managing age diversity.
• [00:17:29] Looking at the many workplace stressors and how mental health and wellbeing have come to the fore as corporate and social priorities.
• [00:20:54] Breaking down the five dimensions of well-being and how they sustain(or undermine) workplace cultures. Those elements include:
  • Physical
  • Emotional
  • Intellectual
  • Spiritual
  • Financial
• [00:29:52] How Dominique and Ellen help companies embed employee actualization within overall corporate goals and outcomes. It starts with the checklist they have developed based on their combined decades of experience, including questions like:
  • What are you doing?
  • Are you happy with it?
  • What are you not doing?
  • Is it important to you or not?
  • How do we create a roadmap that embeds those in corporate cultural priorities?
  • What bottom-line impacts will these necessary changes have?
• [00:32:43] How Dominique and Ellen’s dynamic, nimble, hands-on approach builds bridges to change at every level of the enterprise while anticipating business impacts.
• [00:35:42] Measuring for Efficiencies: A study has shown that companies – large and small, regardless of nation or origin – are wasting 51.5% of payroll every month due to factors like operational dysfunction or disaffection among workers.
• [00:39:23] Case Study: Ellen shares the powerful example of how a bank in Geneva used the five dimensions to shift the mindsets of employees who, feeling undervalued by their employer, had been taking their assets elsewhere upon retirement.
• [00:42:00] About the tagline: “Don’t Grow Old Waiting” and how Wake-Up, Shake-Up, Thrive! was founded on a holistic platform that celebrates the privileges of being over-50.
• [00:43:48] Why over-50 workers and entrepreneurs are well-positioned for success due to demographic shifts that make them a renewable resource worth retaining!
• [00:46:52] The authors share insights into their book, "Wake-Up, Shake-Up, Thrive!: How to Lift Up Your Life in Your 50’s and Beyond — Swiss Secrets to Not Growing Old," their 2/3s “learning” and 1/3 “doing” formula and other tips for keeping workers engaged at every stage of growth and life.
• [00:50:23] Quick-Fire Questions for Dominique and Ellen:
  • What’s your dream with a deadline? Boosting the numbers of companies that include over-50 workers in their DEI goals. Also: Getting things done, making an impact and living balanced, healthy, happy lives.
  • Where should business leaders start in addressing the challenge of retaining and optimally integrating older members of the workforce? Consider bringing in experts to assess the organization and identify tools for measurable outcomes.
  • What does a person who is thriving within an organization that is thriving look like? It’s someone who:
    • Has clarity about why they’re working.
    • Knows what their contributions are.
    • Has healthy boundaries.
    • Feels a sense of purpose and excitement about the job.
    • Intentionally chooses to stay.

Relevant links

• Link for Deloitte study: "Workers wanted: How the 50plus age group can help tackle the looming labour shortage: Ageing workforce challenge in Switzerland."
• More about the work of the National Wellness Organization's Multicultural Competency Committee
• The Surgeon General’s 2022 report: "Workplace Mental Health & Wellbeing."
• A link for McKinsey’s report, “Help Your Employees Find Purpose or Watch Them Leave” can be found here
• "Wake-Up, Shake-Up, Thrive!: How to Lift Up Your Life in Your 50’s and Beyond — Swiss Secrets to Not Growing Old," by Ellen Kocher and Dominique Ben Dhaou