
As many executives 65 and older continue to work, one reason given for why they are asked to stay is that
companies are afraid of, or not prepared for, change. To ease the transition from an
older generation, leaders should embrace, rather than fear, their younger
co-workers, wrote Bill Adams, CEO of The Leadership Circle, a consulting firm, in Fast Company.
Adams offered three reasons why.
The first is work-life balance. Many older leaders don’t actually want to work forever, and bringing more
millennials into the C-suite would remind them to take care of themselves and
avoid burnout, Adams wrote. As companies are becoming increasingly
aware of the impact of their policies on employees’ physical and psychological
safety, and with younger generations entering the executive ranks, “producing a supportive
environment is not only more humane, but is also in the best interest of
companies because a supportive environment ensures that top talent is at their
healthiest and happiest,” he wrote. Building intergenerational connections can
help end burnout, he added.
The second reason is relevance. A natural generational transition gives companies “a new opportunity to
become more relevant,” he wrote. Diversity of race, gender, and generation “can
offer different perspectives from different experiences, and can hold relevant
conversations with its audiences.”
Finding that younger workers see the world in a radically different way than
more experienced leaders, Adams advocated conversations between different
generations in the C-suite; if such converations don't happen, he wrote, “companies will never be able to retain
their top talent across generations, let alone speak to the rapidly changing
social and economic landscape.”
Adams' third reason is longevity. “Having young people in the room can also support a company’s longevity,” he
wrote, noting that the lack of succession planning in many instances can result in “significant
gaps in many teams’ organizational structure,” as well as the missing expertise
of departed older, experienced workers. “Placing younger generations in
leadership roles can support continuity and ease the transition when torches
are passed,” he wrote. “When older leaders embrace other generations, young
leaders will be better prepared and ready to steer the ship without causing too
much of a storm.”
“Companies need a mix of age and experience to build a holistic,
peer-reviewed, and vetted perspective on strategy,” Adams wrote in conclusion. “If
the old guard wants to preserve its legacy, it’s time to bring in the leaders
who will carry their mission forward.”