Senior talent & compensation policies: A comparison with the U.S.
In today's demographic landscape, managing senior talent (professionals aged 50/55 and over) has become a crucial strategic challenge for companies. The vast experience, consolidated knowledge, and strong work ethic of this group are invaluable assets. So, how can we retain and leverage this potential? We'll analyze compensation policies in Spain, comparing them with the U.S. model, to identify strategies that boost senior professional engagement.
Despite an increase in activity rates among 50 to 64-year-olds in Spain, challenges like senior unemployment and a decline in labor participation after 60-65 persist. Ageism and the cultural perception of retirement as a definitive withdrawal limit opportunities. Many SMEs also lack specific programs to retain and develop this crucial talent.
It's essential to rethink talent management strategies, especially compensation and benefits policies.