Recently, 65YMÁS, the leading digital newspaper that gives voice to the elderly and deals with pension issues, interviewed our CEO, Asun Soriano, coauthor of the book “De los Zeta a los Silver.” In this interview, the authors illustrate the silver generation’s economic power, calling for an intergenerational pact with Generation Z (born between 1994 and 2010). “Both the over-50-55s and the under-30s are invisible cohorts in the population, united, for example, by the fact that they both suffer from harsh unemployment and a very high level of employment insecurity. They are two groups in the shadows: the seniors and young Generation Z individuals,” emphasizes Iñaki Ortega. In a similar respect, Asun Soriano points out that “both generations are called to lead the economic and sociological change of the near future. The Silver generation is resilient. They have reinvented themselves countless times; they are increasingly digital and adapt to technology in an astonishing way. This aspect unites them with Generation Z, those who are digital natives.”
“QUESTION: In your book, De los Zeta a los Silver, you insist on paying more attention to these two generations, who have been ignored in the labor and social spheres.
IÑAKI ORTEGA: Indeed, they are two invisible generations, who suffer enormous unemployment and underemployment rates, and the measures taken by companies and administrations fail to solve the problem. In the book, I focus on the over-50s, a group whose employment is linked to self-employment, not by choice, but due to the high unemployment rates they face.
ASUN SORIANO: Young Generation Z individuals also suffer unbearable levels of unemployment and precarious work conditions. There are about 8 million living in Spain, and worldwide they represent 25% of the population. Let’s imagine a mobilization of that 25% of the world population because they have no jobs. They are not understood. They are looked at with contempt. As we have seen in the pensioners’ demonstrations, both generations are assertive. Yet, they are invisible.
Q.- Has the pandemic changed seniors’ situation in any way?
I.O.- The pandemic has confirmed an ageist view of the elderly as a frail age group, a fundamentally unjust and false belief. The health of people over 50 is better than it was 20 or 25 years ago, life expectancy is higher, and eating habits have improved active aging. Nevertheless, there is a cliché of fragility, as if the 15 million people over 55 were all the same. The pandemic has highlighted the condescending view of the elderly. In addition, the economic and labor crisis has made it possible for many companies, urged by the crisis, to undertake restructuring processes and layoffs, making the companies’ staffs much less diverse.
A.S.- Ageism is contagious and must be fought on all fronts, from the business world, families, society, and the political arena. Moreover, considering the quality of life in Spain and the evolution of science, everything points to the senior segment steadily increasing their life expectancy and the number of healthy lived years.
Q.- Why isn’t senior talent valued in Spain?
O.- A shift in mentality is needed on both sides. On the one hand, companies should stop considering age as a decisive factor when it comes to staff adjustments. In other words, a worker over 55 should not have a greater risk of being laid off than a worker under 30 years old. Nor should they be more likely to keep their job. The decision to dismiss an employee over 55 or under 30 should be governed by productivity and training. On the other hand, seniors themselves have to change their mentality and be consistent with the years ahead of them, at work and in life. It would help if the Administration discouraged layoffs and provided bonuses for seniors to remain in the labor market.
A.S.- In companies, diversity management is fundamental. A company has to represent the interests of its stakeholders, and there are consumers in the senior age group. Therefore, diversity is a matter of effective corporate governance. Only one in three companies has active senior talent retention programs, but it is true that sometimes these same companies find that the employee is self-retiring. This has to change: seniors have to understand that their life is going to be very long and that they will have a career A, a career B, a career C… and you cannot throw in the towel prematurely.
I.O.- With the pension reform measures, there is a risk of it turning into a debate between the elderly and the young. For instance, with the increase in social security contributions to finance the pensions of the elderly, the young could say: ” Look, we are paying for pensions, preventing us from finding a job.”
These are very sensitive issues. We think that promoting intergenerational dialogue is the only conceivable way forward. Diversity is synonymous with wealth on all levels: politics, business, and society in general. Confrontations between generations must be avoided at all costs to prevent causing social movements and hinder political parties from capitalizing on emerging discontent. Pensions have an enormous influence on the country’s economy.
Q.- The pandemic has shown that older adults quickly adapt to technology and often do so hand in hand with the young.
A.S.- Technology plays a fundamental role in connecting the elderly and the young, as we have seen during the pandemic. Confinement has accelerated the use of technology by the elderly. We are very familiar with grandchildren and grandparents calling each other and talking through video calls. Using Q.R. codes in restaurants has become the norm... Technology is becoming a transversal tool.
Q.- Has the labor market closed for seniors?
I.O.- Unfortunately, the labor market has practically closed for those over 50, and companies have embarked on a sad race to anticipate retirement, which equates to a loss of talent. Only two out of ten seniors are still working. As a result, self-employment has become the only option for many seniors. The book explains how people over 65 already have an entrepreneurship rate of 13%, higher than the 11% of young Spaniards under 29 years old. Therefore, we must acknowledge that the future cannot be built without including younger people, but those who belong to the silver generation are also part of this equation, and they want to stop being invisible to the economy and the labor market.
Q.- Do older women suffer from dual ageism?
A.S.- Without a doubt. As they get older, older women enter two perverse dynamics: that of ageism and that of gender prejudice, in which we are significantly advancing, yet there is still a long way to go. We need to draw inspiration from extraordinary women, such as Angela Merkel or Margarita Salas, who are outstanding role models for our society. We cannot overlook senior women’s contributions, as they can be a driving force for this country’s future.
Q.- How do you see the future of the youngest, Generation Z?
I.O. In the book, we say that Generation Z youth are invisible. It is accurate because it is not very appealing to talk about a generation that suffers from the highest youth unemployment rate in the OECD, only second to Costa Rica. It is also unsexy to speak of a generation with tremendous levels of insecurity or who are forced to travel abroad and combine university and postgraduate studies to continue training in the hope of finding a job. The last time the President of the Government invited a Generation Z member to speak at Moncloa, they criticized him.
A.S.– People often talk about Generation Z from the point of view of incomprehension and misunderstanding, as if they do nothing besides spend all day long on their cellphones. We have to avoid clichés. One of the fundamental traits of Generation Z is that they are vindictive and activists; they want to change what they don’t like. Ignoring them does not seem to be a smart move for this country’s future. Both seniors and Generation Z have to stop being invisible generations.”
