The Economics of Experience

As my 58th birthday came and went a few weeks ago, the thought of a new career became more exciting than ever. My former career, as a television news executive and producer, formally ended 11 years ago. I chose to leave because the problems afflicting television stations and networks were clear to me back then. I even wrote about it and got the piece published in the San Diego Union Tribune (If you’re a UT subscriber you can find the Op Ed piece in the archive; it’s from May 23, 2000. You can also access the UT archive for a fee, if you don’t subscribe). Since then I’ve worked in related fields as a consultant helping clients achieve success by using new media effectively, along with older technologies including TV, newspapers, and radio. Since the economy slowed, toward the end of 2007, finding new clients has become increasingly difficult. And my recent efforts to get back into TV news have been met with a consistently polite lack of acceptance, from potential employers.

During the last year, I’ve noticed more of my contemporaries out of work. Most would rather be working. In a few cases their chosen fields have passed them by; things are done differently now. But in the overwhelming majority of situations it is something else that has all these 50 and 60 somethings looking for jobs. There is a lack of appreciation for experience and a fundamental failure to recognize why older workers add value.

The most dramatic example of experience over youthful inexperience would be the outcomes of two recent midair emergencies on commercial flights. A 57 year old, Capt. Chesley Sullenberger landed a crippled US Air jet in the Hudson River with no loss of life. Less than a month later, a Continental Express Commuter flight crashed in Buffalo, New York, killing everybody onboard. As we now know, the Buffalo crash was partially the result of pilot inexperience, while the so called “Miracle on the Hudson” happened, in large measure, because the man flying the plane had more than 30 years experience.

Even if our jobs don’t involve the safety of others, the benefits of experience add value to most enterprises. Obviously, certain careers require youth. But most of my friends, who would rather be working, lost their jobs, after years of experience, because they earned good salaries. What the leaders doing the cutting failed to realize is that, in most cases, losing experienced workers weakens their organizations.

Television news is the field I know best. It is not a coincidence that the falling ratings over the last decade are the result of a less watchable product, caused in part by the lack of experience younger workers bring to the task of producing and presenting newscasts. Yes, there are many other reasons TV news is not the powerful force it used to be. The most obvious is competition from the internet and other newer technologies that provide news. But that is precisely the point. Instead of embracing the new technologies, the entrenched leadership of old media clung stubbornly to what they knew best.

Now here’s the tricky part, this has little to do with the age of workers. Two experienced media vets whom I know and respect—both in their 60s—were among the earliest adopters of new technology. Another person I know, an out-of-work woman in her 50s, also understands the new technologies as well as the Gen X, Gen Y, and Millenial crowd. What these three individuals add to their tech know-how is the experience of living in the world and understanding the history of their professions and crafts.

Clearly we need a mix; generational diversity is as important as having an ethnic and gender balance that reflects those an organization serves. Those of us who have been around for a while also understand that learning new skills is part of professional and personal growth. Most of my out of work friends would happily learn new things to stay in the forefront of their professions. In many cases, experience offers a constructive humility that makes the older worker easier to train.

As an older student, studying for a master’s degree with younger classmates, I’ve learned that the way my Boomer colleagues and I are viewed is often at odds with our own self image. This is a good reminder that service and humility go a long way toward achieving success even when it comes to those far less experienced than us. The demeanor and attitude of Capt. Sullenberger amply displayed these characteristics as news of his accomplishments spread. There is a lesson here for all of us, whatever our age.

So my quest for exploring new careers is motivated as much by desire as necessity. The good news is that for this so-called “older worker” new is exciting. I’m not ready to retire. As I continue to operate my media consulting business fresh opportunities and chances to learn add excitement and challenge. Experience is a great teacher, too. In these difficult times, having a few gray hairs might not be such a bad thing for all kinds of organizations.