The death of the organization itself is another way, which is basically the foundation of the free-market capitalism.
The biggest cause of the stagnation you mention IMO is people thinking they deserve something simply because they've physically existed for longer. With the advent of the information age that illusion is becoming harder to maintain. Might take a few generations to develop the correct institutions, but longer lived humans could readily adapt. And that's assuming humans stay otherwise the same physically. Any knowledge that could lead to 4 digit lifetimes will almost certainly come with enough knowledge to turn us into legit cyborgs, or genetically engineered superhumans if we want, and all bets are off at that point.
I said nothing about old people's ability to contribute, rather I was speaking about organizations staffed with the same people for a long time.
See also: "Science advances one funeral at a time." http://www.nber.org/digest/mar16/w21788.html
Our systems of governance alao used to advance one funeral at a time as well, we eventually figured out many ways around that.
What I can say is that it is fallacy to assume one can extrapolate into the unknown by projecting linearly, or even statically, the known. In this case, why should the old be locked into old views? Wisdom urges always incorporating the latest information. People persist in wrong thinking after being shown right - this ego grasping may be a symptom of short lives, for some. And yet, certainly the desire to live longer is, at (the very) least in part, ego grasping, but that does not mean a sentience with infinite longevity will engage in ego grasping forever. Forever is a long time. -Eventually even the most ego wrapped ``child'' should grow out of it, if he or she grows at all.
New challenges give us the possibility of change and new ideas. Certainly re-doing life's challenges again with new minds does induce humanity to take on new ideas, as you say. Maybe there is something of the breadth first vs depth first search style in this comparison. Surely both can have their place.