Individuals are not the only ones affected by ageism; businesses can also suffer as a result. If a corporation fails to combat ageism in work effectively, it is more likely to lose money than gain it.
Businesses will lose the vital expertise and information that senior workers have gained over time. This encounter may also lead to increased confidence, two qualities that contribute to a company’s overall productivity and the maintenance or enhancement of a maintained integrity and industry knowledge – which will all be restricted or lacking due to ageism.
As people get older, 57 percent of respondents believe they are subjected to fewer training chances from their jobs. This sentiment was shared by 64% of those aged 55 & up.
In addition, the report showed ageism toward millennials. Twenty-eight percent of those aged 18 to 35 believe they have been refused a leadership role at work and are too young or have been told they have. The popularity of the phrase ‘OK Boomer’ illustrates the expanding generational divides and demonstrates a refusal to accept other people’s perspectives. This friction created by stubbornness and an unwillingness to accept others creates an unfriendly and disagreeable workplace.
Employers must enforce nondiscriminatory HR practices and respond immediately to alleviate the impacts of ageism. Multigenerational teams should also be formed to stimulate collaboration and learning.
The “ageism in singapore workplace” study examines the frequency of age discrimination in Singapore among different generations and how ageism affects workers’ career advancement and employability.