Rodent Regatta

In 2003 I’ve seen what it means for organizations to launch a youth movement. I’ve seen a 49-year old replaced by a 25-year old. I’ve seen a 67-year old replaced by a 37-year old. Another company’s ”young leader” will not hire anyone older than he is, but it’s because he sees those more experienced as a threat.

I’ve seen interview processes that clearly excluded consideration of any applicant over 40, while assuring that no litigation could result by making public denials of age discrimination in advance. In one organization I saw a person pushed aside for a younger worker only to have the experienced person leave and start a grand new effort of his own.

Warren Buffett has built a thriving business by buying companies run by people in their late 60’s, 70’s and beyond. In his 1996 Letter to Shareholders he remarked, ”It’s difficult to teach a new dog old tricks.”

With an aging population that is largely healthier than any prior generation that reached age 55 and up, we are facing an enormous weight of experience that is being overlooked, denegrated and undervalued by the latest 90-day wonders. Real business advantage will be gained by those organizations that learn how to take leverage the know-how of those prepared to work and thrive from age 50 to age 70 and beyond. Experience matters no matter how ”smart” the youth movement thinks it is.