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In a globalized environment, one of the huge challenges facing Europe is population aging, the named silver economy. Improved health and living conditions have a significantly extended life expectancy. At the same time, birth rates in Europe have fallen markedly, leading to the aforementioned aging population.

The labor force in Europe grew in past decades in developed countries because of the incorporation of the baby boom generation of the 1960s and the incorporation of women into the labor market. These two phenomena now have clear implications for consumption, pensions supporting, additional spending pressure for the health system, and the impact on public debt, among other things. The rise in longevity triggers opportunities for a full life for many people after retirement. The older adults today are healthier than those of previous generations are but perhaps worth asking to what extent it is situation implies sustainable well-being in terms of future work in Europe, taking into account also the mobility of staff of organizations between different countries because of European integration.

In this situation, the aging population poses challenges, such as that of a large group of adults who, while not being of working age, have valuable talent and experience that society should be able to take advantage of it. Today more than ever in Europe, integrated but getting older and at the same time active, the challenge becomes to translate it into productivity.

Figures 1 and 2 show how the employment rates of the population in Europe that are in the age range between 55 and 64 years are reaching the general employment rates and there are more and more active senior workers across Europe.

Figure 1. Employment rates of Europe’s older workforce catching up with overall rates

Source: Own elaboration through Eurostat data (2020), https://ec.europa.eu/eurostat/data/database

Figure 2. More older workers active across the EU

Source: Own elaboration through Eurostat data (2020), https://ec.europa.eu/eurostat/data/database

Figure 2 shows that the population aging in the labor market has been growing up for the last 14 years in all European countries. Age is a conceptual variable that must be managed. It has important implications in health, wealth, in individual and family finances, in the availability of time, in the effort to take out a business project, in the network of contacts, as well as in managerial skills, such as leadership, perspective. Attributes that change in the cycle of life and that many times can determine that start a business is preferred at youth. But, entrepreneurship appears more and more among seniors, because of start again by necessity or passion does not understand age, just as it does not understand sex.

In this context, the question that pop up is how can Europe harness its workforce active and productive longer?