AARP International

Share This

Characteristics of the multigenerational workforce

Older

Feature Block Image Medium

TODAY

Today, half of 10-year old children in countries aging the best may live to be 104 years old. 1

Feature Block Image Medium

BETWEEN 2015-2030

By 2030, the global population of people age 65 and older will have grown by 4 times the rate of the overall global population. 2

Low birthrates in developed countries will limit workforce growth from younger workers, so older workers will sustain the size of the workforce.

More Diverse

Feature Block Image Medium

TODAY

More workers are migrating or are being hired across borders, creating more ethnically diverse workforces than ever before.3

Feature Block Image Medium

BY 2022

By 2022, 1 billion women will enter the global workforce.4

Greater globalization and gender equality will create an even more diverse global workforce.

Caring for Others

Feature Block Image Medium

TODAY

Millennial caregivers in the US provided an average of 21 hours of adult caregiving per week—the equivalent of a part-time job.5

Feature Block Image Medium

TODAY

1 in 5 people—or approximately 100 million people—in the European Union are adult caregivers.6

More and more workers will need to balance caregiving responsibilities in addition to their jobs.

Constantly upskilling

Feature Block Image Medium

BY 2030

By 2030, 85.2 million jobs are forecasted to be unfilled due to a talent shortage. 7 Workers will seek to learn the skills needed for those and other roles.

Feature Block Image Medium

BETWEEN 2035–2040

Automation will reshape the skills required for jobs

Workers require constant learning opportunities from employers and elsewhere to develop the new skills needed to stay competitive.

Increasingly Financially Fragile

Feature Block Image Medium

TODAY

If faced with a $400 emergency expense, 40% of Americans would respond by either borrowing, selling something, or simply not paying.10

Feature Block Image Medium

BY 2050

Today, the shortfall of individual savings represents a retirement savings gap of $15 trillion that could widen up to $100 trillion by 2050.11

Earned income from work is a critical component to ensuring financial resilience over the course of workers’ lives.

A multidimensional understanding of age

When considering the age-diversity of an organization’s workforce, the chronological age of its employees often comes to mind first. However, being age-diverse requires a more complex understanding of age through multiple lenses.

Organizational tenure: 12 years

Career stage: Mid-career

Life-events: Parenthood

Generation: Millennial

Accessibility: N/A

Chronological age: 33 years

Organizational tenure: 3 years

Career stage: Late career

Life-events: Married

Generation: Gen X

Accessibility: Carpal tunnel syndrome

Chronological age: 47 years

Organizational tenure: 2 years

Career stage: Early career

Life-events: College student

Generation: Gen Z

Accessibility: Visual Impairment

Chronological age: 22 years

Organizational tenure: 23 years

Career stage: Late career

Life-events: Grandparenthood

Generation: Traditionalists

Accessibility: N/A

Chronological age: 71 years

Chronological Age

Number of years lived since birth

Life-events:

Age relative to transitional events, such as getting married, having children, and retiring

Career stage:

A person's stage in the context of their career or line of work

Generation

Birth cohort, including the worldviews and values attributable to macro-level factors, such as economic circumstances and historical events

Accessibility

 Physiological changes that affect the ability to work

Organizational tenure

 The length of time spent with an organization


  1. Human Mortality Database. University of California, Berkeley (USA) and Max Planck Institute for Demographic Research (Germany) Note: Study cites life expectancy data from female populations in Chile, Japan, New Zealand (Non-Maori), Norway, and the United States.
  2. The 2018 Aging Readiness & Competitiveness Report: Small Innovative Economies. AARP, 2018
  3. World Migration Report. International Organization for Migration, 2018
  4. Empowering the Third Billion. Women and the World of Work in 2012. Booz & Company, 2012
  5. “Millennials: The Emerging Generation of Family Caregivers.” AARP, 2018
  6. “Embracing the Critical Role of Caregivers Around the World.” Merck KGaA, 2017
  7. “Korn Ferry Study Reveals Global Talent Shortage Could Threaten Business Growth Around the World.” Korn Ferry, 2018
  8. OECD Employment Outlook. OECD, 2019
  9. OECD Employment Outlook. OECD, 2019
  10. “Report on the Economic Well-Being of U.S. Households in 2017.” Board of Governors of the Federal Reserve System, 2018
  11. “We’ll Live to 100 – How Can We Afford It?” World Economic Forum, 2017
  12. Through a different looking glass: The prism of age. The Sloan Center on Aging & Work at Boston College, 2012; “A GATE to Understanding ‘Older’ Workers: Generation, Age, Tenure, Experience.”
Close