Photo by Britt Erlanson/Getty Images

Myth: Employees age 50-plus are more costly than younger workers to an employer.

Facts: Many employers needlessly brace themselves for higher health care and pension costs for older employees. It turns out that total compensation for an age 50-plus worker compared with a younger worker runs from almost nothing more to three 3 percent more, according to an AARP study. At the same time, employers reported that older workers may be more motivated than their younger colleagues, balancing out to slightly increased costs with markedly increased productivity and profit. And experienced employees offer a distinct performance advantage in many key roles.

“Nearly three-quarters of [human resources] professionals tell us that older workers are most valued by the organization, mainly because they bring to the table invaluable experience and the ability to mentor less experienced workers,” says Debra Cohen, chief knowledge officer for the Society for Human Resource Management, in Alexandria, Va.