Older workers as a source of wisdom capital: broadening perspectives

Purpose - The purpose of this paper is to pinpoint some key variables that help shape the notion of older workers as a source of organizational wisdom capital. Design/methodology/approach - Toward that end, the paper reviews a selective bibliography in order to support its arguments. Findings - The evidence garnered throughout this paper – fundamentally through different lens of analysis – suggests that older workers may be considered as valuable assets. Furthermore, a sizeable number of members of this cohort continue, even in the latter stages of their careers, to be willing, well-equipped, and able to enhance, if properly utilized, companies to achieve other patterns of performance. Accordingly, it is advocated here that their knowledge and expertise constitutes an authentic source of organizational wisdom capital that deserves careful attention from organizations to maintain by means of suitable incentives and training. Research limitations/implications - This paper highlights other aspects that should not be disdained by organizations such as career-ending, work characteristics, and mastery-avoidance goals. Thus, companies that are interested in keeping older talents must be attuned to their wishes and aspirations, as well as being proactive by offering tailor-made job-products to them. Social implications - Given the trend of aging workforce, it is likely that organizations will be increasingly impacted by societal demands and public policies toward benefiting and respecting older talents. Originality/value - This paper advocates that older workers are usually living memories of organizational life. Rather, they tend to keep in their minds those failures and successful ideas, projects, initiatives, and leaderships, which added or not value throughout their trajectories, as well as things that worked out or not. Fundamentally, they are able to provide answers to vital questions.