There’s no shortage of reports showing that the U.K.’s population is ageing, and with it, our workforce.
By 2025, people aged under 30 in the workforce will fall by 300,000, while those aged 50 and over will increase by over 1 million according to Office for National Statistics UK Labour Market statistics (March 2018) and Mercer Workforce Monitor analysis.
We’re experiencing a labour market where job vacancies and the number of people in work have hit record highs, but by 2022 there will be an estimated 14.5 million jobs and only 7 million younger workers to fill them as shown in the BITC Age in the Workplace report (2016).
With almost one in three workers now aged over 50, both employees and employers are facing a whole host of new and increasingly complex challenges - from sensitivity around managing age issues and highly experienced staff exiting the organisation and taking valuable knowledge and contacts with them, to rapidly changing needs of employees (e.g. caring responsibilities, flexible working, health conditions, can’t afford to retire), skill shortages, and managing multigenerational teams.
While these issues can affect all areas of business, they are specifically impacting recruitment and retention, workforce planning, corporate memory, productivity, company growth, and the long-term ability to remain competitive.
As Age Diversity finally gets its time in the spotlight, so do the accumulating benefits of having an age diverse workforce and adapting to the changing needs of older employees. It’s well documented that having a good mix of age and experience across teams and projects can result in better problem solving, more creative ideas, and improved business performance.
The business case for recruiting and retaining older workers is mounting as age-friendly employers benefit from increased loyalty, lower absenteeism, flexibility in their workforce, and increased tenure. The most forward thinking employers are ensuring that the age profile of their employees matches that of their customer base. Others are tapping into the experiences of their older workers to design new products and services specifically aimed at the older consumer.
How we can help
Age-friendly Employer Profile
Many organisations have an array of age-friendly offerings behind the scenes that no one knows about. We collect all aspects of your ‘age-friendliness’ and put it all together in a compelling online profile that positions you as an employer of choice for high quality mature talent.
Our clients are purchasing Age-friendly Employer Profiles to enhance their employer brand, reach an untapped group of mature candidates, and benefit from targeted niche recruitment.
Take a look at the FSCS Age-friendly Employer Profile to see an example.
Company-wide Age Audit
Our Age Audit provides business leaders with an independent assessment and holistic view of what’s working and where the blind spots are when it comes to attracting and holding on to mature employees.
Based on a rigorous evidence-based framework developed by our in-house Diversity and Inclusion Strategist, these audits can also uncover areas of conscious and unconscious bias and highlight opportunities to improve your age-friendly offering.
In-house information sessions and workshops
We have a range of career-related topics and training options expertly designed to benefit your over 45s. These include Becoming a Carer, Managing Menopause, How to Work Flexibly, Staying Tech Savvy, Planning for Career Transitions, Coping with Illness, and Managing Multigenerational Teams.
These sessions can be tailored to your organisation and aimed at employees, line managers, or board level. They can be delivered in large groups, intimate workshops or one-to-one.
We (seriously) find nothing more exciting than sharing our experiences and talking about how to turn the challenges of an ageing workforce into a competitive advantage.
Please get in touch if you’d like to find out more about our services or to explore how else we may be of assistance.