DEI initiatives need to be extended to include age discrimination, which is widespread in the asset management and wealth management business.

With longevity demographics extending the active work life of most employees well into their 70s, there is a tremendous benefit to avoiding age discrimination in recruiting and retention through a wide range of initiatives including job rotation, retraining, assessment and promotion and recruiting. As Lynda Gratton commented in a recent The New York Times article ‘ Age discrimination, she said, is growing more pervasive in the corporate world, and that could affect corporate productivity. “I would like to see corporations held accountable for age discrimination just as they are for every other form of discrimination,” she said. “I would like companies to have to report how many people are employed at different ages so we can get a sense of, ‘Are you employing people in their 60s and 70s?’” Such a measure, she believes, would pressure management to recruit from a broader talent pool. And companies would see the benefits of building multigenerational workplaces.


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