When a Company hires retired, aged, workers, the news spread across business and popular information channels.
Because HR departments, Board members, recruiters, commonly believe that a younger workers offers more “opportunities” for the Company.
This is based on a common perception of the shape that the age/opportunity curve has:
After the peak, reached between 30 and 40 years, the opportunity offered by a worker decreases (and its cost increases). So, the marginal utility of hiring such worker decreases.
This approach doesn’t take into account the shift introduced by the evolution of the wealth/social landscape occurred in the last years. Why business and recruiters are missing this point? Mainly because they have been trained by aged teachers, or by teachers replicating concepts and behaviors that are linked to a previous situation.
It’s known that social systems have the tendency to maintain their established order, and this is valid also for the ecosystem of labour market.
I believe that the real opportunity curve is different:
The green curve shows a flattened tendency over the years. This means:
A) younger workers offer an higher opportunity value, earlier,
B) older workers retain their opportunity value for a longer period, and the slope of the decline is less.
Remember that I am talking about “hiring opportunity”, not about “retaining opportunity”.