The survey found that almost 90% of the 200 executives surveyed in Singapore said they needed to focus more resources on their older employees, according to the insurance firm. Just shy of 50% of these executives said they had not allocated enough to retain their workers, while 16% said their firms were focused on helping their older workers.
The survey also noted that older workers were seen as less welcoming of feedback, less creative and less flexible than younger workers. But older workers were credited for having a strong work ethic, for being punctual and for having a good attitude, with executives noting that 84% of these workers were loyal to the company. “Companies will benefit from viewing their mature employees as assets instead of costs,” said Wilf Blackburn, CEO of Prudential Singapore. “Backed with knowledge and experience, they can be equally if not more productive than their younger counterparts.”