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Last year the Women and Equalities Committee published a report concluding that the skills of more than one million employees aged 50 or over were being wasted due to discrimination, bias and outdated employment practices.
The research carried out with UK organisations revealed that only 1 in 5 employers discussed the ageing workforce strategically, 24% admitted that they are unprepared for a growing number of older employees and the over-50s make up nearly a third of the UK workforce.
Many businesses reap the rewards of having an age-diverse workforce, as such they must ensure that they have age-friendly employment policies and processes in place. With the state pension age rising the number of older workers will continue to increase.
Adapting for your ageing workforce
Implementing phased-retirement programmes is beneficial to all parties, as the employee can start to enjoy more free time and the employer continues to benefit from their experience.
To successfully achieve this, organisations may need to consider the creation of a new employee model with the introduction of new positions or adapting existing ones.
By creating this supportive physical environment businesses can influence positive behavioural changes.
It is also equally important for the older staff to undertake training programmes to allow them to keep up to date with the ever-evolving world of business and technology.
How an ageing workforce adds value to your business
As mentioned in bullet point number 7 above, older workers can support the ambitious younger team members by acting as mentors, coaches and subject area experts.
Millennials are known to job-hop, whereas older workers are known for their loyalty and likely to stick around until retirement. The longer an employee stays with a company, the stronger the long-term relationships with customers are, these relationships are hard to replicate.
We’re Here To Help
If you need help improving your workplace culture to be more inclusive or would like advice on how to create policies and procedures to reflect your ageing workforce contact our friendly team of HR professionals on 0161 941 2426.
“P3PM helped us to find a [360 degree feedback] tool which responded to our need for detailed and actionable feedback for senior staff within the business. They ensured that we were supported throughout the process. The outcomes have been tangible, with colleagues identifying clear areas for development which have been actioned and realised positive results. The process also helped us to understand the balance of skills and behavioural competencies within the senior team and tailor recruitment and development to move towards the balance we want to have. ”
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