The term “Modern Elder” was coined by Chip Conley and it has truly inspired me.
For those who don’t know Chip’s back-story, in 1987, Chip founded Joie de Vivre Hospitality, where he held the position of CEO for nearly 24 years, creating and managing around 50 boutique hotels. In 2010, he sold his company to Geolo Capital, whilst retaining an ownership share in several of the hotels.
In 2013, Conley became Head of Global Hospitality and Strategy for Airbnb.
At Airbnb, he was asked by the three co-founders to help evolve the company into a hospitality company with more than one million hosts in 191 countries. Conley worked closely with CEO Brian Chesky as a mentor and helped to build a bridge to the travel, hotel, and real estate/development/landlord industries.
Chip has written several books and formed Modern Elder Academy (MEA), in 2018.
Inspired by his experience of intergenerational mentoring as a ‘modern elder’ at Airbnb, where his guidance was instrumental to the company’s extraordinary transformation from fast-growing start-up to the world’s most valuable hospitality brand, MEA is the world’s first ‘midlife wisdom school.’
HE CONTENDS THAT THERE IS A SIGNIFICANT COMPETITIVE ADVANTAGE IN A MULTI-GENERATIONAL WORKPLACE.
Wisdom is a concept that is often difficult to pin down. Age does not necessarily always bring wisdom but it very often does.
In my opinion, older people bring significant value to businesses in various ways:
- Experience: Older individuals often have decades of experience in their respective fields. This experience can offer insights, problem-solving skills, and a depth of knowledge that younger employees may lack.
- Mentorship: Older employees can serve as mentors to younger colleagues, passing on valuable skills, knowledge, and wisdom. This mentorship fosters a culture of learning and growth within the organization.
- Stability and reliability: Older workers tend to have a strong work ethic, reliability, and stability. They are less likely to job-hop and are often committed to their roles and the success of the company.
- Networks: Over the years, older individuals have built extensive professional networks that can be valuable for business development, partnerships, and recruiting talent.
- Adaptability: While there’s a stereotype that older workers may struggle with technology or change, many are highly adaptable. They bring a wealth of historical context to decision-making and can often adapt quickly to new technologies and business practices.
- Customer understanding: Older employees may have a deeper understanding of the needs and preferences of older consumers, which can be crucial for businesses targeting this demographic.
- Leadership: Many older employees have developed strong leadership skills over their careers. They can serve as effective managers, guiding teams and driving organizational success.
- Diversity of thought: Age diversity in the workforce contributes to a broader range of perspectives and approaches to problem-solving. Older employees may offer different viewpoints that enrich the decision-making process.
I like to believe that I bring some Elder Wisdom to any advisory role that I accept because I can leverage the above 8 advantages. In exactly the same way that Chip added something different to the bright young founders at Airbnb, I believe that I can add value to extraordinary businesses of the bright young people of Africa.
What are YOUR thoughts? Is there value to an organisation in having diversity of age amongst employees? Is there value to including “Elder Wisdom” in a Company?
