How the Rise of Over-65 Employees Can Transform the Future of Work at iHeartMedia

Healthcare Provider Update: Healthcare Provider for iHeartMedia iHeartMedia offers its employees healthcare coverage through various plans under the Affordable Care Act (ACA) marketplace. Specific insurance providers for iHeartMedia employees can include major insurers such as UnitedHealthcare, Anthem, Cigna, and Molina Healthcare, depending on the enrolled plans available in their respective states. Potential Healthcare Cost Increases in 2026 As 2026 approaches, iHeartMedia employees face a potential surge in healthcare costs, driven by significant increases in ACA marketplace premiums. With some states experiencing hikes exceeding 60%, the expiration of enhanced federal subsidies will add further financial strain, potentially raising out-of-pocket premium expenses by over 75% for many enrollees. Contributing factors include rising medical costs, higher prescription drug prices, and an overall increase in healthcare utilization, making 2026 especially challenging for those relying on ACA plans. Click here to learn more

A major transition is occurring in the changing face of the global labor market; this is a time of transition where the workplace's demographic makeup is changing dramatically. The aging of the workforce, especially in the US, presents opportunities as well as obstacles for businesses and organizations trying to integrate a workforce that is becoming more and more intergenerational. This shift is occurring at a time when the presence of iHeartMedia employees who are nearing retirement age is increasing, which is different from historical standards where these instances were uncommon.

Nearly one-fifth of Americans 65 and older were working in 2023, according to recent Pew Research survey results. This percentage has nearly risen over the previous three decades. In addition, a study done last year by Bain & Co. predicts that by 2031, workers who are 55 years of age or older will make up more than 25% of the world's workforce. This change in the workforce's demographics calls for a careful analysis to find the best ways to maximize the potential of an intergenerational workforce and make sure that the special knowledge and expertise of older employees are used to boost innovation and organizational success.

Bringing in employees from a variety of generations is crucial, says Jason LaRue, National Managing Partner of Talent and Culture at KPMG. He recognizes the value that people with long careers can offer to the workplace. LaRue's viewpoint, which advocates for a more inclusive approach to talent management, highlights a deeper understanding of the need to go beyond age-based preconceptions about capacity and potential.

Older iHeartMedia employees have a variety of reasons for wanting to stay in the workforce, from personal aspirations for social engagement, meaningful work, and the pursuit of new career opportunities, to financial needs like caregiving responsibilities and the desire for ongoing income to support longer, healthier life spans. Prominent figures such as Elizabeth White, who started a business at the age of 68, demonstrate how retirement is a dynamic concept and how career reinvention is possible as one ages.

Employing and keeping older workers makes a lot of financial sense. Organization for Economic Cooperation and Development (OECD) research shows that organizations with a higher percentage of older employees have lower turnover rates, which can dramatically minimize the expenses associated with hiring and training new employees. Loyalty, stability, and accumulated 'crystallized intelligence,' which encompasses a multitude of information, competence, and improved problem-solving skills, are frequently attributes of older workers.

Additionally, having elder personnel in a company, like iHeartMedia, can create a more compassionate and prosocial work atmosphere, which benefits all staff members by promoting a culture of support and mentoring. Research has demonstrated that intergenerational teams are more inventive and productive, dispelling the myths around ageism in the workplace.

Despite the obvious benefits, ageist attitudes and behaviors make it difficult for older workers to fully participate in and advance in their jobs. In order to overcome these obstacles, a concentrated effort must be made to build age-inclusive policies and procedures that reward seasoned employees and encourage their ongoing participation and advancement.

Employers are starting to understand the significance of this demographic change and are putting in place rewards and initiatives aimed at luring, keeping, and assisting senior employees. Examples of creative strategies to meet the needs and goals of senior employees include Northrop Grumman's iReturn program and KPMG's caregiver concierge perks.

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It is obvious that reevaluating conventional ideas of labor, retirement, and career growth is crucial as society continues to struggle with the effects of an aging workforce. Organizations may access a plethora of talent and expertise that will be essential to their success in the upcoming decades by cultivating an atmosphere that honors the contributions of iHeartMedia workers of all ages.

A noteworthy trend, impacting companies like iHeartMedia, is the increasing enhancement of risk management and decision-making procedures in organizations with sizable populations of workers 65 years of age and above. In March 2023, the Harvard Business Review published a research that emphasizes how senior employees' seasoned judgment and different perspectives help create more complete and balanced approaches to company planning and problem-solving. This combination of wisdom and experience improves operational effectiveness and has a favorable effect on the bottom line by creating an organizational culture that is more flexible and resilient.

Imagine an experienced orchestra consisting of players of all ages who have mastered their instruments and join together to share their unique experiences. The most seasoned players in this symphony, like those over 65 in the labor, are essential. The orchestra's overall tone and harmony are enhanced by their profound knowledge of the music and their capacity for creativity and adaptation in their performances. In a similar vein, businesses that recognize and cherish the contributions of their most seasoned workers discover that their workplaces have a deeper, more harmonious balance. Similar to how a varied variety of experiences in an orchestra takes the performance to new heights, this synergy not only increases innovation and productivity but also fortifies the company's resilience and boosts its bottom line.