THE AGE THING

Steve Jobs was 56. John Boehner is 61. Nancy Pelosi is 71. And Warren Buffet recently turned 81. The average age of CEO’s in established businesses hovers around 56 years. The average age of members on Fortune 500 boards is 62.5.

When these leaders are 50, 60 or 70 themselves, do they view the age of candidates as a disqualifier?

I can’t recall an instance where a client company asked us for candidates with less experience, or requested that candidates be below a given age. To the contrary, expertise, track record, and culture fit continually surface as the key requirements. And long, broad experience (often referred to by clients as “gray hair”) is not an uncommon preference.

As an example, Nye Lubricants, an international technology leader that develops and produces engineered lubricants for unique applications, recently filled five key positions for their technology, operations, quality and sales organizations with carefully selected candidates. The average age of the selected candidates is 53 years, the oldest being 62. CEO George Mock III (who himself is 51) observes that “we needed real leaders, who also have an expertise with our technologies and the industries we serve. Why would we compromise our business opportunities solely to attract younger candidates?” Furthermore, “we have to consider who will develop our new technologists and our emerging leaders? In filling a key position, I want someone who’s smart, experienced and current; a real pro who has a solid track record, can understand our business, fits our culture, embraces our strategy, and knows how to lead. Within those parameters if gray hair plays any role, it’s probably a plus.”

But when hiring “gray hair”, how long will the new leader stay on? A preference for younger candidates won’t necessarily increase job tenure. First, and most telling, the average retention of executives of any age is only 5 to 6 years. Second, it’s well recognized that improvements in health and increases in longevity have people working longer and more effectively.

For some seasoned candidates themselves, ageism is a concern. They can’t control their chronological age or the misconceptions of a minority of hiring executives. They can positively impact their appearance, presentation, level of interest, vitality, and currency in their field. But their own concerns about their age can come through in interviews and compromise employers’ views of their long experience, great track record and continuing value. There are numerous factors that affect interviewing success, but this is one where a failure to be competitive for that next opportunity may be self-inflicted.

It’s hard to deny that in some circles there is a prejudice that favors younger candidates. But, for the better organizations, the age thing (older or younger) is not a primary hiring factor or a disqualifier. And where a candidate’s qualifications are made clear, gray hair is likely an asset.