Enhancing the value of age diversity in teams: Why wisdom work is the new knowledge work

In 1959, Peter Drucker said: “It is not machines and tools; it is the knowledge of the knowledge worker that increases productivity and job satisfaction.”

Therefore, integrating varied age groups within a team is a reality and a challenge. As more younger people run organisations, there will be less demand for knowledge due to the availability of artificial intelligence and more need for human wisdom.

Wisdom is at the heart of this, with wisdom work rapidly becoming the new knowledge work.

What then, is wisdom and wisdom work?

Wisdom is using one’s depth and breadth of knowledge and experience to do by oneself and others, whilst wisdom work includes a tolerance for the uncertainties of life and work.

Teams that embrace age diversity tap into a reservoir of experience and insight that transcends traditional knowledge.

Benefits of age-diverse teams

Firstly, age-diverse teams bring together a variety of perspectives and experiences. This diversity can foster a more creative and comprehensive approach to problem-solving. Younger team members might introduce innovative ideas and technological proficiency, while older colleagues can offer a wealth of experience and measured perspectives, enhancing creativity and problem-solving.

Secondly, combining youthful enthusiasm and seasoned wisdom can lead to more balanced and effective decision-making. Older employees often have the prudent judgement that stems from years of experience, whereas younger team members might be more willing to take risks and explore new avenues.

Thirdly, by working closely with colleagues from different age groups, individuals can break down stereotypes and foster mutual respect. These interactions can reduce prejudices and build a more inclusive and respectful workplace culture. In addition, according to various research studies, companies with diverse ethnic and cultural diversity are more likely to achieve above-average profitability.

A Deloitte research study found that age-diverse teams increase employee retention and satisfaction. Older workers have more peripheral vision and bring a sense of calm and long perspective to the team. It also enhances learning from each other and promotes respect amongst teams. It combats ageism and alters our sense of purpose and value that roles bring to the table.

The benefits of a perennial mindset

In 2016, Gina Pell introduced the concept of the 'perennial' – individuals who defy generational stereotypes, stay relevant irrespective of their age, and maintain a keen understanding of the world around them. Perennials are 'ever-blooming, relevant people of all ages who live in the present time, know what's happening in the world, stay current with technology, and have friends of all ages'.

Aspiring to be perennial should be a goal for all in the workplace because this mindset encourages embracing diversity in all its forms. It creates a workplace where everyone, regardless of age, stays relevant, optimising strategic decision-making.

Age diversity within teams is not just a trend but a strategic advantage. By embracing the wisdom of older employees and the innovation of younger ones, organisations foster a more dynamic, inclusive, and productive work environment.

Remember to resist assumptions, adjust the lens, and face your biases. Embracing age diversity is more than just wisdom and knowledge; it is the synergy that drives success.

As an executive recruitment company, People Power Placements, with its extensive experience and global reach, has long recognised and championed the importance of age diversity, setting a benchmark for others to follow.