With rising life expectancy and pension ages and a declining birth rate, the workforce is ageing gracefully.
Almost two fifths of the UK population is over 50, up from 32% in 1981, an increase of 6.8 million people. The number of over-65s is expected to surpass the under-16s across Europe this year.
Meanwhile, the lower birth rate means fewer younger people are starting work to replace the retiring bulging Baby Boomers’ generation. Unless industry catches up, the demographic timebomb will have a profound impact on society, healthcare and the economy which is why the UK government and others are encouraging employers to value and actively nurture, retain and recruit older workers.
Over 55s currently represent 25% of our workforce. Yet over-50s are far more likely to be overlooked for promotions, retraining and hiring – one in three believe they have been turned down for a job because of their age and one in five employers admit age discrimination occurs in their organisation.
As well as being illegal and risking prosecution and reputational damage, discriminating on the basis of age is a poor business strategy which could leave any organisation short on skills and with an imbalanced and unstable workforce.
Here are five ways to support older workers – and reap the rewards.
This is a pilot that has been tested by the Centre for Ageing Better with four big UK companies and it has yielded positive results.
The scheme takes a holistic look at individuals once they reach the 50 milestone.
It explores finance and pension plans, career progression, aspirations and looks at how staff can better balance work with looking after their health and their families.
The result was increased productivity, reduced absence through sickness, commitment to ongoing learning and lower attrition rates.
A fifth of older people surveyed by The Centre for Ageing Better said lack of training was a barrier to their professional development. Are employers failing to offer training or retraining to older staff because they believe it will be a waste of resources? Or that older staff no longer wish to learn or even don’t have the capacity?
In the same survey, 90% of older staff said they took training when it was offered.
Meanwhile, the US Bureau of Statistics found that 45-54-year-old employees stayed with their company twice as long as 25-34-year-olds, meaning greater ROI when investing in older staff.
Offering clear progression pathways and keeping training programmes inclusive to all ages as part of ongoing later-career support can help keep your workforce motivated and skilled in alignment with your organisation’s strategic development and growth.
Most firms are hot on training around race, gender and disability discrimination but age bias is the big unspoken taboo.
Training could include positive reinforcement about older workers, guidance around the law and menopause awareness.
Ensure all staff are fully aware that disparaging comments, hostility and jokes around age are as unacceptable as those around ethnicity or sexuality; create systems where such inappropriate behaviour can be safely reported and managed.
Inter-generational workforces drive greater productivity, morale, continuity and cohesiveness. Mentoring schemes help connect the generations, allow more mature and experienced staff to share their accumulated knowledge and offer trainees, interns and younger staff safe relationships in which to ask questions, test ideas and learn. They encourage younger generations to appreciate the value of their more mature colleagues and make older staff feel integral to the workplace culture and evolution. The mentor/mentee relationships can also build a sense of familial loyalty and belonging to an organisation and improve wellbeing.
In order to keep and attract the best talent from every age group, make sure they are all represented in written and visual communications. Keep language inclusive – avoid terms like “young” or “energetic” in job adverts. Make sure there is a broad demographic represented in any images of the company, including older men and women of all races, ethnicities and backgrounds. Ensure any potential recruit can see themself becoming part of your organisation or team.
More than half of workers will have long-term health conditions by the time they reach 60 but this needn’t be a barrier to productivity.
Making sure they have access to programmes or groups that focus on their physical wellbeing, like lunchtime yoga or Pilates, and mental wellbeing, like meditation or mindfulness classes, could encourage a more positive relationship with work
You can keep your workforce healthier for the future by extending health services to employees of all ages. For example, being aware of ergonomic practices to prevent back pain or musculoskeletal problems and offering access to occupational health could reduce the chance of these conditions becoming chronic.
Reviewing your workplace benefits for ways to support employees’ mental, emotional, and physical health throughout their working lives could mean they enjoy a healthy, active life as they get older.
Menopause support is equally vital to help your older female workforce. Half of the population will go through the menopause, eight out of 10 during their working life. A quarter will suffer debilitating symptoms including anxiety, joint pain, hot flushes and insomnia yet three quarters say their workplace does not offer any formal support.
Too often, women suffering some of these extreme effects feel they must suffer in silence, pass over promotions, cut their working hours or leave their job. A 2023 UK survey found almost a quarter were considering quitting because work conditions had become unbearable, potentially a damaging drain of talent and experience. Companies that fail to protect the employment rights of older women suffering menopausal symptoms also leave themselves open to legal action on the grounds of gender and/or disability discrimination.
Menopause training, flexible working, cooler office spaces, wellbeing support and other health programmes can all help minimise the impact for women, remove the stigma and extend their productivity and career lifespan.
More than 2,700 UK employers have signed up to The Menopause Workplace Pledge, committing to actively provide menopause support to staff, including Tesco and NHS England.
Two thirds of employers reported a skills shortage last year, yet as we have explored here, a ready-made workforce, experienced, emotionally mature and keen to be upskilled, is available to fill those gaps.
Rialto can support employers looking to identify and fill skills shortages within their organisations and support senior employees through mid-life MoTs with personalised programmes and coaching and online seminars on subjects around leadership and new technologies.
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