Ninety-four percent of more than 1,000 US workers aged 40 years or older think ageism, or age-related discrimination, is the reason they have limited access to professional development and training opportunities, according to Resume Now's 2024 State of Ageism in the Workplace report.

Separately, in 2023, AARP surveyed more than 5,800 US workers 50 years old or older. Ninety percent of respondents said they believe age discrimination is common in the workplace. Additionally, 12 percent believe their age caused them to lose a promotion.

Resume Now's report found that ageism "significantly" affects older workers' financial stability, having an impact on their earnings and retirement plans. Half of the respondents believe they have lower earning potential due to ageism. Four in 10 experienced early or forced retirement.

"With the vast majority of workers over the age of 40 experiencing age-related bias, it's clear that ageism is a very large and unaddressed problem within the workplace," says Resume Now career expert Heather O'Neill in a press release. "This high prevalence highlights the fact that current policies and workplace dynamics are failing to protect employees from age-related discrimination. To effectively combat this problem, we need stronger tools, more comprehensive education, and targeted training to put an end to this epidemic."

L&D can aid in those efforts and create an atmosphere of equality. In 2023, American Psychological Association research found that engaging retirement-eligible workers with training participation helps with employee retention. The Journal of Applied Psychology reveals that when employers encourage older workers to take part in training programs, they are more motivated to grow and develop within the organizations and are more likely to stay in their roles despite being eligible for retirement.