The UK government has launched an action plan to help businesses recognise the value of older workers, as people live longer and are healthier into their later years.
According to the Office for National Statistics there will be 700,000 less people in the 16 to 49 age bracket in the next decade, but there will be 3.7 million more aged over 50 and below the age of state pension. Employers should take heed of this fundamental shift in the workforce and unleash the advantages of hiring older workers.
Currently, 60 percent of 55 to 64-year-olds are in employment and this figure is on the increase. However, the UK rate is still low when compared with other countries where 70 percent of people in this age bracket are in employment.
The pensions minister Steve Webb details plans in the document Fuller Working Lives – a framework for action.
The government scheme includes the appointment of the Older Workers’ Employment Champion – a Health and Work Service created to support employees suffering from long-term health problems to stay in work or return to work. New legislation which is coming into force from the end of June also sees the extension of the right to request flexible working, beyond that of parents over under16s.
Pensions minister Steve Webb said: “Older workers have a huge amount to bring to any workforce and are a vast untapped talent. We are living longer and can expect many more years of healthy life. It’s great news – but it’s something that as a society and as an economy we need to respond to.”
As a business, it is vital that employers develop age-inclusive recruitment practices and offer flexible working arrangements to attract the knowledge and talent of older workers. If you need help with recruitment, policies and plans for the future talk to the team Triple Three Solutions.