Extending the Working Life with AI

Over the years, I have developed a keen interest in workplace well-being. As I have gotten older, my focus has shifted to ageing and the problems older workers face while doing their jobs.

The ageing workforce presents challenges for both workers and employers alike. However, steps can be taken to extend the health span of workers, which contributes to wellness. This article addresses these issues and examines how AI can assist older workers in increasing well-being in the workplace.

First, we’ll examine the challenges posed/faced by older workers.

The Challenges posed by an ageing workforce

1. Skills Gap: New graduates with the latest thinking in their chosen field, with training in the latest tools and methodologies, are more appealing than older employees trained on outdated legacy systems. The greater the proportion of older employees, the bigger the perceived problem. However, this scenario does not need to be a problem for employers. Investment in continual workplace training can easily address this issue, although this may not seem a good option for employees close to retirement.
2. Healthcare Costs: Older workers may require more healthcare support, increasing healthcare costs for employers. This can impact the organization’s bottom line, especially if they offer healthcare benefits to employees.
3. Productivity Decline: Aging can lead to a decline in cognitive and physical abilities, which may affect productivity. Older workers may also experience fatigue and decreased energy levels, impacting their ability to perform at their peak.
4. Technology Adaptation: Older workers may need help to adapt to new technologies, which are becoming increasingly prevalent in the modern workplace. If employees can leverage the latest tools and systems, this can help organizational efficiency and innovation.
5. Workplace Injuries and Illnesses: Older workers may be more prone to workplace injuries and illnesses due to age-related physical limitations. This can result in increased absenteeism, workers’ compensation claims, and healthcare costs for employers.
6. Retirement Planning: Organizations must consider succession planning and knowledge transfer strategies to ensure a smooth transition when older workers retire. Failure to plan for this transition can leave gaps in leadership and expertise within the organization. Older workers take valuable institutional knowledge and skills that may not be adequately passed on to younger employees as they retire. This can create a significant skills gap within organizations, hampering their performance and growth. The greater the proportion of older employees, the greater the potential problem when they eventually retire.
7. Age Discrimination: Older workers may face discrimination in the hiring process or workplace, leading to decreased job opportunities, lower wages, and reduced job satisfaction.

Why Keep Older Workers?

1. Experience and Expertise: Older workers often possess valuable experience, knowledge, and expertise accumulated over years of working in their respective fields. This valuable knowledge is difficult to replace and can be crucial for maintaining operational efficiency, problem-solving, and innovation within the organization. When new systems of operation fail, prior methods of operation can save the day, so in this sense, older workers act as a kind of redundancy system.
2. Work Ethic and Reliability: Older workers are often known for their strong work ethic, reliability, and commitment to their jobs. They typically have a sense of responsibility and professionalism that can positively influence workplace culture and morale.
3. Customer Relations: Retaining older workers can enhance customer relations and satisfaction in industries that cater to older demographics. Older employees may better understand the needs and preferences of older customers, leading to improved service and loyalty.
4. Cost Savings: Retaining older workers can result in cost savings for organizations. Recruiting and training new employees can be expensive, and turnover can disrupt operations and productivity. By retaining experienced workers, organizations can reduce recruitment and training costs while maintaining continuity in their workforce.
5. Mentorship and Knowledge Transfer: Older workers can serve as mentors and role models for younger employees, helping to transfer critical skills and knowledge. This mentorship facilitates the development of the next generation of workers and ensures continuity and stability within the organization.
6. Succession Planning: Keeping older workers allows organizations to implement effective succession planning strategies. By gradually transitioning responsibilities and knowledge from older workers to younger employees, organizations can ensure a smooth transition when older workers retire.
7. Diversity and Inclusion: Retaining older workers contributes to diversity and inclusion in the workforce, which has been shown to improve organizational performance and innovation. By fostering an age-diverse workforce, organizations can leverage various perspectives and experiences to drive success.

Addressing these challenges requires proactive measures such as training programs to upskill older workers, promoting a culture of diversity and inclusion, and providing accommodations for age-related health issues. Additionally, fostering intergenerational collaboration can help overcome the challenges and leverage the strengths of younger and older employees, leading to a more dynamic and productive workforce.

Why older people might want to stay in the workplace

The decision for pensionable individuals to continue working can bring several benefits:

1. Financial Stability: In these times of high inflation, continuing to work allows elderly individuals to supplement their retirement savings and maintain financial stability. This extra income can help cover living expenses, healthcare costs, and other necessities, reducing the financial strain in retirement.
2. Social Engagement: Work provides opportunities for social interaction and engagement, which are important for mental and emotional well-being, especially as people age. Continuing to work allows elderly individuals to stay connected with colleagues, build new relationships, and maintain a sense of belonging and purpose.
3. Mental Stimulation: Work can provide mental stimulation and cognitive challenges, helping to keep the mind sharp and active. Engaging in intellectually stimulating activities can reduce the risk of cognitive decline and improve overall brain health in older adults.
4. Physical Health Benefits: Depending on the type of work, staying active in the workforce can contribute to better physical health and mobility. Jobs that involve physical activity or movement help elderly individuals stay physically fit and maintain functional independence for longer.
5. Sense of Purpose: Work provides a sense of purpose and fulfilment, giving elderly individuals a reason to get up and be productive each day. Having meaningful work to do can boost self-esteem, confidence, and overall life satisfaction in older adults.
6. Professional Development: Continuing to work allows elderly individuals to continue learning, growing, and developing professionally. They can acquire new skills, stay updated on industry trends, and remain relevant in their respective fields, enhancing their employability and career prospects.
7. Contribution to Society: By remaining in the workforce, elderly individuals can contribute meaningfully to society. They can share their knowledge, skills, and experiences with younger generations, mentor colleagues, and contribute to their communities and organizations.

So, there are clear advantages to keeping older workers. However, every organisation must ask the question, “Do the positives outweigh the negatives?”

Overall, for many elderly individuals, continuing to work offers a range of benefits beyond just financial security, including social engagement, mental stimulation, physical health benefits, a sense of purpose, professional development, and the opportunity to make meaningful contributions to society.

These benefits can offset/delay the onset of age-related illnesses such as dementia.

How AI can assist organizations with an ageing workforce.

1. Automation of Repetitive Tasks: AI technologies can automate repetitive tasks, allowing older workers to focus on more complex and strategic aspects of their jobs. This reduces physical strain and cognitive load, making work more manageable for ageing employees.
2. Assistive Technologies: AI-powered assistive technologies, such as smart devices and applications, can help older workers with tasks such as reading, writing, communication, and navigation. These technologies enable older employees to remain independent and productive in the workplace.
3. Health Monitoring and Support: AI-driven health monitoring systems can track vital signs and detect early signs of health issues in older workers. This proactive approach to healthcare can help prevent illnesses and injuries, leading to better overall well-being and productivity.
4. Training and Skill Development: AI-based training platforms can provide personalized learning experiences tailored to older workers’ specific needs and preferences. These platforms can help older employees acquire new skills, stay updated on industry trends, and adapt to technological advancements in the workplace.
5. Decision Support Systems: AI-powered decision support systems can assist older workers in making informed decisions by analyzing large volumes of data and providing relevant insights. This can be particularly beneficial in finance, healthcare, and manufacturing industries, where complex decisions are often needed.
6. Flexible Work Arrangements: AI-enabled remote work tools and virtual collaboration platforms can facilitate flexible work arrangements for older workers who may prefer or require alternative work arrangements, such as part-time or remote work, to accommodate their needs and preferences.

Overall, AI has the potential to empower and support older workers by enhancing their productivity, health, and quality of life in the workplace.

If you need more of a reason to keep your retirees in some capacity, consider that there are fewer and fewer children in the Western world as birth rates have fallen, meaning that there are fewer young workers to replace the old. In addition, children growing up today have different expectations of what work will provide. As we transition to a society powered by AI, older people’s expertise and know-how/experience are priceless in training young workers beyond their new AI-reliant roles.

Organisations should actively campaign to keep workers of pensionable age if they are able and want to work. Create a dialogue with them so that terms can be acceptable for both the company and the worker.