g-f(2)2728 Beyond Bias: Embracing the Longevity Economy

 

genioux Fact post by Fernando Machuca and Gemini

Introduction

The article "Uncover the Ageism Hiding in Your Organization" by Matthew Lifschultz sheds light on the pervasive issue of ageism in the workplace and marketplace. It highlights the untapped potential of the longevity economy and the human costs of age-related biases. The Age AWARE Audit framework is introduced as a tool for organizations to identify and address hidden ageist practices, fostering inclusivity and seizing opportunities in the growing market of older adults.

genioux GK Nugget

"Ageism, often overlooked, significantly impacts both individuals and businesses, hindering the full potential of the longevity economy." — Fernando Machuca and Gemini, August 7, 2024

genioux Foundational Fact

Ageism, a form of bias against older adults, is widespread and often unconscious, leading to missed opportunities in the workplace and marketplace. The Age AWARE Audit framework offers a systematic approach to identify and address ageist practices, promoting inclusivity and tapping into the potential of the longevity economy.

The 10 Most Relevant genioux Facts

1. The longevity economy, driven by the over-50 population, represents a significant economic force with substantial purchasing power and contributions to the workforce.
2. Ageism, despite being prevalent, remains largely invisible and socially accepted, impacting individuals' sense of belonging and opportunities.
3. Companies often overlook the potential of older adults as both consumers and employees, missing out on valuable talent and market share.
4. The Age AWARE Audit framework focuses on five key areas: Accessibility/design, Workplace, Adaptability, Representation, and Engagement.
5. Age-aware companies prioritize inclusivity by considering the needs and preferences of older adults in product design, marketing, and workplace practices.
6. Addressing ageism requires a proactive approach, including involving older adults in design and testing, implementing age-inclusive policies, and challenging stereotypes in communication.
7. By uncovering and addressing hidden ageist practices, organizations can enhance their brand reputation, attract diverse talent, and tap into the growing market of older consumers.
8. Age awareness should be viewed as a strategic advantage, not just a compliance issue, leading to innovation, improved customer experiences, and increased market share.
9. The audit process should be ongoing, involving continuous feedback and measurement to track progress and ensure sustained change.
10. Embracing age diversity and inclusivity fosters a more vibrant and resilient workplace culture, benefiting individuals and organizations alike.

Conclusion

The article serves as a call to action for organizations to recognize and address ageism within their operations. By adopting the Age AWARE Audit framework and actively promoting inclusivity, businesses can unlock the potential of the longevity economy, create a more equitable workplace, and foster a society that values the contributions of all individuals, regardless of age.

REFERENCES

The g-f GK Context

Matthew Lifschultz, Uncover the Ageism Hiding in Your Organization, MIT Sloan Management Review, August 7, 2024.

ABOUT THE AUTHOR

Matthew Lifschultz is the founder of Age AWARE, a strategic consulting practice, and co-editor of Paths to Leadership in the Senior Living Industry (Springer, 2021). 

Classical Summary of the Article

This article explores the pervasive issue of ageism in today's businesses, highlighting the missed opportunities in both talent acquisition and market reach. Ageism, often unconscious, results in the marginalization of older adults, despite their significant contributions to the economy and workforce. The author, Matthew Lifschultz, introduces the "Age AWARE Audit" framework, a five-part tool designed to help organizations identify and address hidden ageist practices. Through probing questions and real-world examples, the framework encourages businesses to examine their accessibility, workplace practices, adaptability to demographic shifts, representation of older adults, and engagement strategies. By actively uncovering and addressing ageism, companies can unlock the potential of the longevity economy, foster inclusivity, and achieve sustainable growth.

Matthew Lifschultz

Matthew Lifschultz is a prominent figure in the senior living industry, known for his strategic insights and leadership expertise. He is the founder of Age AWARE, a strategic consulting practice that focuses on enhancing leadership and organizational effectiveness within the senior living sector¹.

Matthew co-edited the influential book "Paths to Leadership in the Senior Living Industry" (Springer, 2021), which provides a comprehensive overview of leadership in the senior living and care industry¹². The book assembles insights from many of the industry's great leaders, offering strategies for success and discussing the future of leadership in this dynamic, mission-focused field².

Matthew's academic background is equally impressive. He holds a Master of Aging Services Management from the University of Southern California, a JD from Fordham Law School, and a B.A. in Economics from the University of Pennsylvania². He also studied Public Finance at NYU’s Wagner School of Public Service².

In his consulting practice, Matthew advises companies and individuals on communications, public image, and leadership, helping them navigate the complexities of the senior living industry². His work has had a significant impact on promoting meaning and purpose in corporate culture, making informed decisions, and finding competitive advantages through technology, training, and team-building².

For more information about Matthew Lifschultz and his work, you can explore the [Paths to Leadership in the Senior Living Industry] book.

Source: Conversation with Copilot, 8/7/2024

(1) Paths to Leadership in the Senior Living Industry | SpringerLink. https://link.springer.com/book/10.1007/978-3-030-53966-5.

(2) Paths to Leadership in the Senior Living Industry by Matthew Lifschultz .... https://www.barnesandnoble.com/w/paths-to-leadership-in-the-senior-living-industry-matthew-lifschultz/1137337892.

(3) Paths to Leadership in the Senior Living Industry | SpringerLink. https://link.springer.com/book/10.1007/978-3-030-53966-5.

(4) USC Leadership in Senior Living Book. https://gero.usc.edu/2021/09/15/usc-leadership-in-senior-living-book/.

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REFERENCES

“genioux facts”: The online program on "MASTERING THE BIG PICTURE OF THE DIGITAL AGE”, g-f(2)2728, Fernando Machuca and Gemini, August 7, 2024, Genioux.com Corporation.

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