Younger for longer

aut1.2 2016The 100-year Life by Lynda Gratton and Andrew Scott
Graduate recruitment practices, learning and development policies, pay and performance assessment will all need to be transformed in the wake of a 100-year life as firms recognise that over that lifespan any one specific firm or industry will play a much reduced role in our lives compared to the recent past.

Should pay be delinked with age – and retirement delayed. Will senior managers be hired in junior roles? And graduate internships scrapped? How about introducing mid-career breaks?

In a new book published in June1, Professor Lynda Gratton and Andrew Scott of London Business School stress that living longer is not an issue for when we are old but an urgent and important one for now – for individuals as well as companies and governments.

Much corporate practice is predicated on the assumption of a three stage life with a career stage involving a deep commitment to work in order to achieve financial success. In a multi stage life only some stages will be based around a deep commitment to work and with different career paths to sequence in different ways, age will no longer be a simple predictor of motivation. With new stages emerging firms will have to reconsider the work-life balance that they offer to different groups.

So in anticipation of a longer life than our forebears, is it possible to have our cake and eat it? In a clever addition to the book, here’s a thought provoking 5-minute exercise and analysis of your own tangible and intangible assets over a long life:

1 The 100-Year Life: Living and Working in an Age of Longevity. By Lynda Gratton & Andrew Scott. Bloomsbury; 264 pages;