Longevity: the new strategic challenge facing companies

These days, longevity is one of the key areas of discussion in the business world. Living longer is no longer the exception; it is a growing trend and a reality of our society. As a result, companies are facing a contemporary challenge: adapting to a society where careers last longer, different generations coexist in the same workplace, and the concept of the ‘end of a working life’ is becoming increasingly obsolete.
With average life expectancy on the rise, many people continue to be active in the job market for longer, which forces companies to rethink their modus operandi, people management policies, ongoing training and career progression.
But longevity does not have to be seen as a problem. On the contrary, it has the potential to be a competitive advantage. More experienced professionals bring accumulated knowledge,emotional stability and strategic expertise. However, for this potential to be harnessed, organisations must set aside age-related prejudices.
The coexistence of several generations in the same work environment brings major advantages to companies and organisations, including learning and innovation. Companies that succeed in encouraging a culture of sharing across different age groups tend to benefit from a rare combination – experience coupled with creativity and modernity. Longevity, in this context, becomes a catalyst for diversity. In addition, companies that invest in the continuous retraining of theiremployees –regardless of age – are better prepared to face change and maintain their relevance in the market.
Longevity is a reality that poses challenges for the labour market, but it also offers unique opportunities to the business world. Companies that are able to adapt to this new reality will not only survive but, above everything else, thrive in an increasingly competitive society. Simply put, in an era where we live longer, we can also work better.
 
Paulo Abrantes 
Managing Director of Grupo DS