Age against the machine: How hiring mature workers in start-ups can work
Kenny Goh, COO of Pulsar Ventures (Left) with JD Lee, CEO of Pulsar Ventures (Right)
““The young do not have a monopoly on innovation. The only blocker that hinders a mature worker from innovation is their mindset that they are not (or are no longer) innovative, which is rubbish.“ ”
“You can’t teach an old dog new tricks.” That familiar adage is getting old. Today six in 10[sy1] Singaporean workforce is 40 years or older. More start-ups[sy2], including logistics and courier company Ninja Van, Foodtech Hoow Foods and Fintech and e-commerce venture builder Pulsar Ventures are bucking the trend in hiring mature workers. The Singapore Ministry of Manpower revealed more than half of the[sy3] people who secured jobs at start-ups between April and June were mid-career workers under the government’s Professional Conversion Programmes (PCP).
The old misconception that start-ups are for the young needs to be put to rest. Co-founder and Chief Executive Officer of Pulsar Ventures JD Lee revealed most of the people he had recruited were older than him when he launched his first start-up in 2007. Now, at 34 years old, his employees tend to be younger than he is. We speak with JD and his “mature hire” Chief Operations Officer Kenny Goh (49 years young) to find out how mature workers can find their place in start-ups and debunk the myth that start-ups are for the young.
(This interview has been edited for grammatical accuracy and clarity.)
JD Lee, CEO of Pulsar Ventures (Left) with Kenny Goh, COO of Pulsar Ventures (Right)
Let’s address the elephant in the room, JD. “In a tech sector, youth is synonymous with innovation.” Do you agree with the statement? How can a mature worker bring about innovation?
JD: I am reminded of an online article[sy4] that I had read that said “Steve Jobs was in his fifties when Apple launched the iPhone. Reed Hastings was in his fifties when Netflix launched the first Netflix Originals. Innovation hasn’t been limited to the mythical college dropout”.
The young do not have a monopoly on innovation. The only blocker that hinders a mature worker from innovation is their mindset that they are not (or are no longer) innovative, which is rubbish. Anyone and everyone can be innovative and can remain so for life.
Kenny: I agree. In fact, age could be an advantage if it comes with relevant experience. I think the more important consideration should be on having the right skillsets and applying what you’d learned in the past to new challenges.
JD: I've learned very early that people don't grow fast enough—at least not as quickly as you would like them. In a fast growing start-up, you need experienced hands to guide the business as well as the fellow team members’ development as it grows. Doing anything less would be a competitive disadvantage to your team's execution.
Kenny, what do you think is the biggest challenge of working with a younger boss?
Kenny: I haven’t faced any major challenges per se but one of the possible risks I can think of is that—because he’s a young CEO, a young entrepreneur—time is on his side. He may have a higher appetite for risk in making certain decisions that I think may be a bit too high in terms of the risk-reward ratio.
JD: In fact I appreciate that of Kenny. He reminds me of the risk-reward spectrum and counter my more optimistic tendencies which I think is beneficial. Maybe that’s also the mindset and perspective that a boss needs to have today. You have to set your ego aside and see that as a positive contribution otherwise it’s not going to be a productive team.
What can older workers bring to the start-up table?
Kenny: To me, it’s about the knowledge transfer and the interaction between the two. Older workers definitely have something to share with the young and, on the flip side, there are lots to learn from the young. The world is changing. Younger workers are definitely more plugged in to a lot of the new technologies than the older set.
As long as we can actually establish the right lane to allow this information flow—the communication flow—that lets younger workers tap onto the older one’s experience, that, hopefully, translates into something applicable in the real world. That really is the biggest challenge. Even among JD, myself and the team, we work very hard to bridge this communication gap.
JD: You don’t really think of transferring skills. It’s not like trying to pass on the information from one generation to the next. It’s about synthesising new information so it can be better. It becomes a new normal, a new knowledge.
If you take that approach then you won’t necessarily favour the young or the old, male or female, or from different ethnicities or nationalities because in reality, you’d recognise that you just have to synthesise everyone’s perspectives into making a much better solution at the end of the day.
Lastly, what can mature workers do to stay attractive to employers?
Kenny: I think it's really to stay relevant. Of course, to be humble enough to learn, to be continually learning basically. And, of course, to have the right mindset. Don’t think you're old and have experience so you deserve so-called respect.
I think that's very important because I think certain people, especially those who have had a certain level of achievement may find it quite difficult to humble themselves, step down and move on to a different environment, a different stage.
I think that's probably the biggest stumbling block. So if the older worker can be more open-minded, be more humble and continue to learn and stay relevant I think that should help.
And what does it mean to “stay relevant”?
Kenny: You'll probably have to do your own personal evaluation to find your strengths and interests. Then, basically, just continue to build on the areas that let you put more value on the table. So for example, if you’re an accountant you may want to keep yourself updated on recent developments. You should keep yourself at the forefront and understand what are the changes and recent technologies that could potentially impact your industry. That will provide a sort of value add to the table.
[sy1]Link: https://www.channelnewsasia.com/news/commentary/singapore-older-workers-retrenchment-long-term-unemployment-12956670
[sy2]Link: https://vulcanpost.com/716022/singapore-companies-hiring-older-workers/
[sy3]Link https://www.todayonline.com/singapore/startups-not-just-young-entrepreneurs-mid-career-workers-can-thrive-too-josephine-teo
[sy4]Link to https://www.reforge.com/blog/entertainment-value-curve