The impact of age on innovation

Richard A Parsons

Management Research Review, 2015, vol. 38, issue 4, 404-420

Abstract: Purpose - – This paper aims to develop a model of individual innovation based on an employee’s innate propensity to innovate and the specific costs and benefits expected to the individual from the innovation. This model is then used to study the way an employees’ age will impact innovation. Design/methodology/approach - – This paper proposes variables which drive an individual’s innovative behavior based on a literature review. This theoretical model is then maximized to show how age drives an employees’ innovation output in three ways. A small survey is used to substantiate the theory. Findings - – In this model, the age of the employee becomes an important independent variable with negative elements associated with both the cost and benefit the employee will receive from their innovation efforts. However, age will be positively associated with an employee’s ability to implement and capitalize on their innovation. Practical implications - – Firm’s must pay attention to the career life cycle of their employees. The human resource department must take on the task of focusing on delivering the programs needed to support older employees’ particular needs relative to producing innovation. Social implications - – As the Western workforce ages, considerations for dealing with older workers and age diversity will become more important. Models such as the one developed in this paper will be important for understanding and managing the changing workforce. Originality/value - – This model develops a theory of how age can impact an employee’s innovation in three specific ways that have not previously been addressed in the literature. This model also proposes an explanation for surprising results found in several prior studies.

Keywords: Innovation; Age; Individual; Incentives (search for similar items in EconPapers)
Date: 2015
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:eme:mrrpps:v:38:y:2015:i:4:p:404-420

DOI: 10.1108/MRR-10-2013-0241

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