Hiscox report on how ageism in the workplace has changed and increased. The number of age-related discrimination charges filed with employers and the EEOC by workers aged 65+ doubled from 1990 to 2017. There were 18,376 cases in 2017.
By 2024, workers aged 55 and older will represent 25% of the nation’s workforce, with the fastest annual growth rates among those aged 65 and older.
This evolving workforce presents business owners and C-suite leadership with unprecedented challenges, an array of new risks and some unique opportunities. This 2019 Hiscox Ageism in the Workplace Study surveyed 400 U.S. full-time employees over the age of 40 to gain on the ground insights into the experience of age discrimination in the workplace.
Ageism creates a range of hazards for employers, including discrimination lawsuits, demotivated employees and the lost opportunity costs associated with devaluing older workers. Our study shows that 67% of surveyed workers aged 40-65 plan to continue to work after they turn 66. Businesses can profit by better understanding and adapting to this demographic trend.