How are the Elders in the society portrayed in The Giver respected?
If you are referring to the Committee of Elders, those individuals were considered as being the most experienced and wisest members of the community. As such, the task of determining assignments for the work to be assumed by each adult member of the community - which was central to the function and survival of the community as a whole - was given to the Committee of Elders.
Like the Matching of Spouses and the Naming and Placement of newchildren, the Assignments were scrupulously thought through by the Committee of Elders.
If you are referring to the elder members of the community, those who live in the House of the Old, others are taught to be respectful and helpful, as when Jonas bathed Larissa. However, Fiona told Jonas of another way of relating to the elderly when she reported, "Did you know they use a discipline wand on the Old, the same as for small children?"