Managing Older Talents in the Context of Aging Society
Talents are more important than ever for the successful performance of organizations. The workforce is aging rapidly, and this trend creates both additional challenges for the companies and opportunities for the new directions in the management research. In the context of aging society, there is a lack of studies that analyze career development of older workers and especially older talents. In order to manage talented older employees, companies must reveal and fulfil their expectations and thus further develop their careers. To do so, older talents in later life have the following options: career mobility, workplace mentorship, volunteering, or older entrepreneurship. In order to find what practices are being taken by companies of various business industries in Lithuania to manage older talents, qualitative research strategy was employed. As the main method for the data collection, semi-structured in-depth interviews were adopted. The findings revealed, the majority of the companies support the idea that all their employees are talents, without indicating one particular age group, e.g. older workers. The respondents indicated the most valuable benefits given by the older talents as well as the main challenges that older talents impose in the organization. Older talents have some specific needs in comparison with younger talents, especially in training (which denies one of stereotypes that older workers can't be trained), as well as the need to contribute into the success of the company) and working conditions (e.g. flexibility). When evaluating the practices that are applied specifically to older talents, the most commonly mentioned among the respondents were various mentorship programs. (original abstract)
- Ainsworth, S. (2015). Aging Entrepreneurs and Volunteers: Transition in Later Career, in Aging Workers and the Employee-Employer Relationship, edited by Ball, P.M., Kooij, D. T.A.M., and Rousseau, D.M. (Ed.), New York, NY: Springer.
- Akimova, L., Akimov, O., Maksymenko, T., Hbur, Z. & Orlova, V. (2020) Adaptive management of entrepreneurship model as a component of enterprise resource planning. Academy of Entrepreneurship Journal, 26(3), 1-8.
- Al Ariss, A., Cascio, W.F., and Paauwe, J. (2014). Talent management: Current theories and future research directions. Journal of World Business, 49(2), 173-179.
- Allen, T.D., Eby, L.T., Poteet, M. L., Lentz, E., Lima, L. (2004). Career benefits associated with mentoring protégés: A meta-analysis. Journal of Applied Psychology, 89: 127-136.
- Baltes, B.B., Rudolph, C.W., & Bal, A.C. (2012). A Review of Aging Theories and Modern Work Perspectives, The Oxford Handbook of Work and Aging. In Hedge, J.W., Bormon, W.C. (Ed.).
- Becker, B. E., Huselid, M. A., & Beatty, R. W. (2009). The differentiated workforce: Transforming talent into strategic impact. Boston: Harvard Business Press.
- Biemann, T., Zacher, H., & Feldman, D.C. (2012). Career patterns: A twenty-year panel study. Journal of Vocational Behavior, 81(2), 159-170.
- Bilan Y., Mishchuk, H., Roshchyk, I., & Kmecova I. (2020). Analysis of Intellectual Potential and its Impact on the Social and Economic Development of European Countries. Journal of Competitiveness, 1, 22-38. https://doi.org/10.7441/joc.2020.01.02
- Bilan, Y., Mishchuk, H., Samoliuk, N., & Mishchuk, V. (2020). Gender discrimination and its links with compensations and benefits practices in enterprises. Entrepreneurial Business and Economics Review, 8(3), 189-204. https://doi.org/10.15678/EBER.2020.080311
- Bockman S., Sirotnik B. (2008). The Aging Workforce: An Expanded Definition. Business Renaissance Quarterly, 3(3), 129-136.
- Boehm S.A., Kunze F., & Bruch H. (2014). Spotlight on age-diversity climate: The impact of age-inclusive HR practices on firm-level outcomes. Personnel Psychology, 67:667 - 704
- Bown-Wilson, D., Parry, E. (2013). Career progression in older managers. Employee Relations, 35(3), 309-321.
- Buckingham, M. & Vosburgh, R. (2001). The 21stCentury Human Resources Function: It's the Talent, Stupid!. Human Resource Planning, 24(4), 17-23
- Carrière, Y., Galarneau, D. (2011). Delayed retirement: A new trend? Perspectives on Labour and Income, 23(3), 1-16.
- Cook, S. L. (2015). Redirection: An extension of career during retirement. The Gerontologist, 55(3), 360-375.
- Cook, S.L. (2016). Career development and nonretirement: HR has a role to play in helping mature workers weigh their career options. HR Professional Magazine, 31-32.
- Doerwald, F., Scheibe, S., & Van Yperen, N. W. (2015). Role of age in workplace mentoring. In N. A. Pachana, & N. Thapa (Eds.), Encyclopedia of Geropsychology Singapore: Springer.
- Fabisiak, J., & Projurat, S. (2012). Age management as a tool for the demographic decline in the 21st century: An overview of its characteristics. Journal of Entrepreneurship, Management and Innovation, 8(4), 83-96.
- Feldman, D.C., Schultz, K.S. (2007). Career Embeddedness and career crafting among older workers. In K. S. Shultz & G. A. Adams (Eds.), Aging and work in the 21st century: 303-319. New York: Psychology Press.
- Fothergill, K. E., Ensminger, M. E., Robertson, J., Green, K. M., Thorpe, R. J., and Juon, H. S. (2011). Effects of social integration on health: A prospective study of community engagement among African American women. Social Science & Medicine, 72(2), 291- 298.
- Gallardo-Gallardo E., Dries N., González-Cruz T.F. (2013). What is the meaning of 'talent' in the world of work?. Human Resource Management Review, 23, 290-300.
- Kanfer, R., Beier, M. E., & Ackerman, P. L. (2013). Goals and motivation related to work in later adulthood: An organizing framework. European Journal of Work and Organizational Psychology, 22(3), 253-264
- Kooij, D., de Lange, A., Jansen, P., & Dikkers, J. (2008). Older workers' motivation to continue to work: Five meanings of age: A conceptual review. Journal of Managerial Psychology, 23, 364-394
- Kooij, D. T. A. M., Jansen, P. G. W., Dikkers, J. S. E. a., & de Lang, A. H. (2014). Managing aging workers: A mixed methods study on bundles of HR practices for aging workers. The International Journal of Human Resource Management, 25(15), 2192-2212
- Krajňáková, E., Vojtovič, S. (2017). Struggles of Older Workers at the Labour Market. Economics and Sociology, 10(1), 319-333. DOI: 10.14254/2071- 789X.2017/10-1/23
- Lewis, R. E., & Heckman, R. J. (2006). Talent-management: A critical review. Human Resource Management Review, 16, 139-154.
- Lyons, S. T., Schweitzer, L., & Ng, E. S. W. (2015). How have careers changed? An investigation of changing career patterns across four generations. Journal of Managerial Psychology, 30(1), 8-21.
- Mendryk, I. (2017). Retirement Age: Preferences of Employees Representing Various Age Groups. Economics and Sociology, 10(4), 29-40. doi:10.14254/2071- 789X.2017/10-4/3.
- Meyers, M. C., van Woerkom, M., & Dries, N. (2013). Talent-Innate or acquired? Theoretical considerations and their implications for talent management. Human Resource Management Review, 23(4), 305-321.
- Midlarsky, E. and Hannah, M.E. (1989). The generous elderly: Naturalistic studies of donations across the lifespan. Psychology of aging, 4, 346-351.
- Murphy, M.W. (2012). Reverse mentoring at work: Fostering cross-generational learning and developing millennial leaders. Human Resource Management, 51, 549-573.
- Pavelek, L. (2013). The Effects of Senior Volunteering - How Does Volunteering of the Elderly Influence Their Individual and Social life? (A Qualitative Research Study of Slovak Elderly Volunteers). Journal of Scientific Research and Reports, 2(1), 133-144.
- Perrin, R. (2016). Retaining older employees is a smart business move. Strategic HR Review, 15(6), 246-249.
- Pillay, H., Kelly K., Tones, M. (2010) Transitional employment aspirations for bridging retirement: Implications for training and development. Journal of European Industrial Training, 34(1), 70-86.
- Pitt-Catsouphes, M., Matz-Costa, C., James, J. (2012). Through a different looking glass: The prism of age. Chestnut Hill, MA: Sloan Center on Aging & Work, Boston College, available at: https://www.bc.edu/content/dam/files/research_sites/agingandwork/pdf/publications/RB03_PrismofAge.pdf.
- Pauli, U., & Pocztowski, A. (2019). Talent Management in SMEs: An Exploratory Study of Polish Companies. Entrepreneurial Business and Economics Review, 7(4), 199-218. https://doi.org/10.15678/EBER.2019.070412.
- Pozzi, M., Marta, E., Marzana, D., Gozzoli, C., & Ruggieri, R. A. (2014). The Effect of the Psychological Sense of Community on the Psychological Well-Being in Older Volunteers. Europe's Journal of Psychology, 10(4), 598-612.
- Ready D.A., Conger J.A., Hill L.A. (2010). Are you a high potential? Harvard Business Review, 88, 78-84.
- Rice, C.K. (2015). The Phenomenon of Later-Life Recareering by Well-Educated Baby Boomers. Journal of Psychological Issues in Organizational Culture, 6(2): 7-38.
- Silzer, R., & Dowell, B. E. (Eds.). (2010). Strategy-driven talent management: A leadership imperative. San Francisco: John Wiley & Sons.
- Stam, C.D. (2009). Knowledge and the ageing employee: A research agenda. European conference on intellectual capital. Paper presented at the 1st European Conference on Intellectual Capital. Haarlem, the Netherlands.
- Sterns, H. L., & Doverspike, D. (1989). Aging and the retraining and learning process in organizations. In I. Goldstein & R. Katzel (Eds.), Training and development in work organizations. San Francisco, CA: Jossey-Bass, p. 229-332
- Super, D. E. (1957). The psychology of careers. New York: Harper & Row.
- Teeranantawanich, C., & Phimolsathien, T. (2018). Thai legal practitioners' knowledge management: Communications skills, professionalism, and competency as the antecedents for success. Journal of International Studies, 11(1), 108-123. doi:10.14254/2071-8330.2018/11-1/8.
- Tempest, S., & Coupland, C. (2016). Lost in time and space: Temporal and spatial challenges facing older workers in a global economy from a career capital perspective. The International Journal of Human Resource Management, 2(5), 125-132
- Tiessen, R., & Lough, B.J. (2018). International Volunteering Capacity Development: Volunteer Partner Organization Experiences of Mitigating Factors for Effective Practice. Forum for development studies, 46(6), 1-22.
- Wang M. (2013). The Oxford Handbook of Retirement, New York: Oxford Univ. Press.
- Waters-Sobkowiak, M., Kowalski, T., & Smits, S.J. (2018). The Evolving Potential of Talent Management in Poland. Entrepreneurial Business and Economics Review, 6(3), 159-174. https://doi.org/10.15678/EBER.2018.060310.