The Golden Age of The Silver Worker

 

Introduction

As the global population ages, we're entering a transformative era in the workforce—the "Golden Age of the Silver Worker”. This term highlights the rising involvement of older employees aged 60 and above with their valuable experience, knowledge, and skills in the industry. While there are often concerns such as health-related issues, technology adaptation, and flexibility issues, this demographic is increasingly proving to be one of the most important assets for organizations around the world. Their extensive expertise and unique perspectives can play a key role in shaping the future of the work.

Global Trends: Silver Workers on the Rise

Over the last few years, many developed countries have been significantly involved in demographic shifts. According to the World Health Organization (WHO), the global population aged 60 years and older is projected to reach 2.1 billion by 2050, up from 1 billion in 2020 (from 12% to 22%) WHO 2024. With this demographic shift, the concept of retirement dramatically transformed. According to a report by the World Economic Forum older workers will become a significant portion of the labor force in many countries World Economy Forum 2024. Older workers, often labeled as “silver workers,” contribute in several key areas that make them invaluable to organizations.

Silver workers bring valuable experience to the workplace and, when supported, enjoy benefits like financial security, a sense of purpose, and fulfillment. Their extensive experience boosts job satisfaction, while opportunities for skill development, especially in technology, keep them relevant. Flexible work arrangements and health benefits cater to their needs, and they can guide younger employees, fostering collaboration. With the right support, older workers can continue to thrive, contribute to their organizations, and enhance their overall well-being.

Sri Lanka’s Approach to Silver Workers

In Sri Lanka, the presence of the Silver Workers in the workforce has both opportunities and challenges. With this new globalized concept, the Sri Lankan government has recognized the importance of silver workers contributions to the national economy. However, cultural factors, limited access to health care, and the economic effects of an aging population have created some challenges in terms of integrating silver workers into the workforce.

Challenges Faced by Silver Workers in Sri Lanka

In Sri Lanka, especially in rural areas, many older workers face challenges in staying employed after retirement age, including:

• Age Bias and Discrimination: Older employees often face age-related discrimination, with employers favoring younger, tech-savvy candidates over those with more experience.

• Limited Training Opportunities: Many older workers lack access to upskilling programs, making it harder for them to keep up with technological changes in the workplace.

• Health and Well-being: Health issues can also be a barrier, as some older workers may struggle with physically demanding tasks or maintaining performance in certain roles.

These challenges highlight the need for more inclusive policies and support to help silver workers continue to contribute to the workforce.

Supporting Silver Workers in Sri Lanka

Sri Lanka is starting to recognize the value of its aging workforce and is implementing strategies to help them thrive:

• Lifelong Learning: The government, alongside private organizations, is promoting continuous skill development for older workers, such as training in digital literacy and IT, to help them adapt to technological changes.

• Flexible Work Options: Some companies are offering part-time or less physically demanding roles, allowing older employees to stay engaged without fully retiring.

• Inclusive Workplaces: Companies like Hayleys Fentons, John Keells Holdings John Keells 2021 are fostering environments where workers of all ages feel valued and have equal access to career opportunities.

• Encouraging Collaboration: Many businesses are encouraging younger and older workers to collaborate, allowing older employees to share their wisdom while helping younger colleagues learn from their experiences.

These efforts highlight Sri Lanka's growing recognition of the importance of silver workers and the benefits of creating a more inclusive, supportive work culture.

 

Conclusion: Embracing the Potential of the Silver Worker

The “Golden Age of the Silver Worker” is upon us, and the value that older workers bring to the global workforce is clear. With their vast experience, leadership skills, strong work ethic, and emotional intelligence, silver workers offer invaluable contributions to any organization. Around the world, countries are beginning to realize the importance of creating policies and environments where older workers can thrive—and Sri Lanka is no different.

By embracing a culture of inclusion, providing ongoing training opportunities, and offering flexible work options, businesses can tap into the full potential of their aging workforce. This approach not only benefits the economy but also strengthens society. The silver worker is, without a doubt, a golden asset—one that deserves to be celebrated and supported for years to come.

References:

 

•        Organization, W.H. (2024) Ageing and health, 2024. https://www.who.int/news-room/fact-sheets/detail/ageing-and-health

•  ·       Forum, W.E. (no date) Demographic shifts: How to steer towards economic growth, World Economic Forum. Available at: https://www.weforum.org/stories/2024/10/demographic-shifts-ageing-population-economic-growth/ (Accessed: 15 March 2025). https://www.weforum.org/stories/2024/10/demographic-shifts-ageing-population-economic-growth/

• John Keells Holdings (2021). "Fostering an Inclusive Workforce for All Ages." Retrieved from keells.com