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In the US, the “Peak 65” demographic benchmark shows that over 4 million will reach 65 this year and then every year through to the end of the decade.3 Not all will retire: in fact, we see a growth of over-65-year-olds staying on. One study by Johns Hopkins University estimates that up to 2% of the US workforce belongs to the Silent Generation, born before 1946.4 Even at the very top of corporate leadership, we can see demographic forces at work. While the average age of Fortune 500 CEOs is 59.2, almost half (47.6%) are over 60 and over 5% are over 70. Younger CEOs (under 45) tend to be concentrated in big tech, green energy or young, online businesses. While later retirement across the workforce can be a short-term fix to stop up a talent gap, it also threatens to lead to stasis in keeping a status quo in place at the expense of younger cohorts. Organizations need to ensure older workers are upskilled and able to use new tech tools, while channeling knowledge transfer to younger generations.
There are signs this inter-generational flow is breaking down. Significant numbers of Gen Z are not in the workplace at all. The so-called NEETs (not in education, employment or training) are a growing trend in North America and across Western Europe. According to International Labour Organization data, about a fifth of 15-24-year-olds worldwide are NEETs.5 The numbers are significant: 500,000 in Spain; 3 million in the UK, for example. And this disengagement is leading to levels of stress and anxiety among 18- to 24-year-olds significantly higher than in Millennials at the same age.6
The gender gap at work is another challenge. Much ink has been spilled diagnosing the continued leaching out of female talent from our organizations. Lean In’s 10th Workplace Report (2024) shows that women’s experiences at work have not improved after a decade of gender-focused efforts. Women are far more likely to have their judgment questioned in their area of expertise than men (38% vs. 26%); more likely to be mistaken for someone at a much lower rank (18% vs. 10%), and twice as likely (39% vs. 20%) to be spoken over or interrupted.7 There is a growing generational divide too: younger men are the least committed to gender diversity while younger women are the most. And among senior leaders, while 79% of men think that women are well-represented, that view is shared by only 55% of women.