A new report reveals that American workers over 55 years old are more likely to have an employer who does not provide resources for guidance and professional development for this age segment, which could well account for the large number of job resignations and departures recorded by the group during the COVID-19 pandemic.
Research conducted by 15Five, the San Francisco-based provider of software for employee engagement and performance management, showed that 68.5% of US adults between 55 and 64 years old say their employer does not provide them with assessments that determine their talents and strengths. That number increases to 70.3% for those 65 years and older, the report noted. In comparison, for the 25 to 39 age demographic, the percentage falls dramatically, topping out at just 34.8%.
The findings appear to support recent job statistics cited by 15Five that were sourced from the US Department of Labor, which showed that more than 4 million American workers aged 55 and older left their jobs in October.
“For older Americans—those 55 years and older—the data is both revealing and unsettling,” says Jennie Yang, vice president of people and culture at 15Five. It also offers a window into why so many resigned during the pandemic.”
“Our new data shows ageism is prevalent in the workplace, with a lack of managerial support and career guidance for the Gen X demographic and above,” Yang added. “Given the labor shortage and difficulty in finding workers to fill the 11 million open job slots, it’s an ideal time for companies to re-examine their approach and ensure equitable support for all cohorts. We believe people should be allowed to work as long as they wish, with all the attendant privileges and advancement opportunities as those who are beginning their careers.”
The report also explores the impact that managers have on employee job satisfaction. More than half—53.8%—of Americans say that a top reason for leaving a company is unsupportive management. An even larger number—57.6%—state that supportive upper management and a good direct manager are two of the most important factors for them to remain at a company.
Managers play an important role in guiding employees through career development, but not every cohort is receiving the same attention, 15Five remarked. For those who are 55 to 64 years old, a majority says their managers have not held any conversations with them on career vision.
The 15Five research emphasizes that career growth and professional development are important factors in employee retention, as workers place value on more than just compensation and benefits where their jobs are concerned. Nearly half of Americans say clear career growth paths, as well as learning and development provided by an employer, are key elements when considering whether to remain at a company. In fact, more than three-quarters of American workers—or 75.9%—say that they work harder for an employer who shows they care about their growth as a professional.
“Empowerment and career development are what all employees crave, and also benefit the business,” said Yang. “Employees that feel empowered to pursue their career and professional development are more engaged, more productive, and more likely to remain with the company. It generates the best outcome for both employers and employees.”
The 15Five report is based on a survey in September of more than 1,000 employed US workers, which had sought, among other things, to uncover the role of managers in retaining employees and the importance of professional and career development to the American worker.
Author Information
Alex is responsible for writing about trends and changes that are impacting the customer experience market. He had served as Principal Editor at Village Intelligence, a Los Angeles-based consultancy on technology impacting healthcare and healthcare-related industries. Alex was also Associate Director for Content Management at Omdia and Informa Tech, where he produced white papers, executive summaries, market insights, blogs, and other key content assets. His areas of coverage spanned the sectors grouped under the technology vertical, including semiconductors, smart technologies, enterprise & IT, media, displays, mobile, power, healthcare, China research, industrial and IoT, automotive, and transformative technologies.
At IHS Markit, he was Managing Editor of the company’s flagship IHS Quarterly, covering aerospace & defense, economics & country risk, chemicals, oil & gas, and other IHS verticals. He was Principal Editor of analyst output at iSuppli Corp. and Managing Editor of Market Watch, a fortnightly newsletter highlighting significant analyst report findings for pitching to the media. He started his career in writing as an Editor-Reporter for The Associated Press.
