Job Growth, Demographic Data No Match For An Age-Old Bias

Despite the lowest unemployment rate in nearly five years and a rapidly growing volume of research pointing toward a looming talent shortage as baby boomers begin to retire, a recent survey conducted by ExecuNet, the leading executive job search and recruiting network, reveals that the gray ceiling remains a significant obstacle in the career paths of corporate leaders.

According to the survey of 168 executives with an average age of 50, nearly three-in-four (74%) are concerned they will be discriminated against on the basis of their age and more than half (58%) believe their age has disqualified them as a candidate for opportunities in the past.

ìWhile age discrimination doesnít always receive the attention is deserves, particularly during periods of economic growth, its a problem that nearly every professional will inevitably face in their career,î says Dave Opton, CEO and Founder of ExecuNet. ìAnecdotal evidence suggests that an executive under the age of forty will typically have twice as many interviews as an executive over the age of fifty.î

One-in-three executives surveyed (33%) believes age becomes a significant factor in a hiring decision at or below the age of 50, 34% say it starts between the ages of 51 and 55, and another one-third (33%) report it becomes an issue after the age of 55.

Nearly half (47%) of those surveyed say that the stereotypes suggesting older workers are inflexible and lack energy are most responsible for putting executives at risk of being discriminated on the basis of age. Thirty-seven percent blame corporate cost cutting, 10% point toward rapid changes in technology, and 6% say increased health insurance premiums are the primary reason older executives encounter age discrimination.

The survey also found that while nearly half of all executives (47%) expect to retire after the age of 65, 24% are concerned they may be forced into retirement sooner due to their age.

ìWith approximately 76 million baby boomers approaching retirement, corporate America needs to radically rethink its approach to attracting and retaining older executives,î says Opton. ìOrganizations that consciously or unconsciously overlook the value of older executives are sabotaging future growth.î

ExecuNet, the leading executive-level job search and recruiting network, provides exclusive access to confidential six figure job listings, expert advice, and high-level business connections for professionals while helping corporate and search firm recruiters find qualified executive candidates. Founded in 1988, ExecuNet helped transform the executive recruiting industry by launching the first website designed to bring together senior-level professionals and search firms.

Based in Norwalk, Connecticut, ExecuNet is a recognized authority in recruiting trends and proprietary employment market research. For more information, visit www.execunet.com.