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A higher average age, longer lifetime employment, and a decreasing share of younger workers characterize today’s workforce (McGuire, By, & Hutchings, 2007). Employees need to develop new technical and self-management skills to work efficiently in a world characterized by technological revolutions, fast innovation cycles, and unprecedented customer orientation (McKinsey, 2015). As a result of the worldwide demographic shift and technological changes, organizations are challenged to ensure young and old employees’ knowledge transfer, knowledge sharing, knowledge creation, and knowledge restructuring (Orzea & Bratianu, 2012). Politicians have become increasingly aware of the potential consequences of demographic shifts for workforce composition and economic productivity (Gordo & Mertens, 2010; Lerman & Schmidt, 1999; Winkelmann-Gleed, 2009). However, a focus on