Why it pays to be old – and how to get old before your years : Companies capitalize on a lifetime of knowledge and experience

Purpose – The purpose of this paper is to challenge HR specialists to consider the value of experience, seek out older workers and ensure that younger staff are developed to give them experience beyond their years. Design/methodology/approach – Recognizes that organizations need to ensure they get value for money from their employees, and that older workers are often perceived as expensive, less flexible and lacking technology skills. Gives examples from companies such as McDonald's, and from the author's own experience, which counter these perceptions. Concludes with practical actions to enhance employee value for money. Findings – Argues that leading organizations such as McDonald's have found tangible bottom‐line impact of employing older workers. Provides five key benefits of experience and suggests nine ways that HR managers could develop their staff so they get old ahead of their years. Practical implications – The paper challenges HR managers to go beyond a compliance approach to ageism, recognize the potential of older workers and ensure that younger staff are developed in ways that enhance their experience. Contains information that will be increasingly relevant as the proportion of older people in the workforce rises. Originality/value – The paper is of benefit to HR specialists and line managers seeking ideas on how to ensure their employees provide value for money.