Over 50s who are made redundant following the end of the furlough scheme could see themselves locked out of work by ageism in the recruitment process. The latest labour market figures showed that 355,000 over 50s are currently unemployed, with 31,000 having been made redundant between May and July alone. Over 360,000 over 55s were still on furlough at the end of July, prompting fears of another wave of unemployment among this group at the end of the scheme.
A new guide, launched by the Centre for Ageing Better, aims to help employers tackle ageism in their hiring process.
According to Ageing Better's previous research on recruitment, more than a third (36%) of 50-70 year olds said they felt at a disadvantage in applying for jobs due to their age, and earlier this year our report found that employers are failing to identify and tackle potential age bias in their recruitment process – with none of the employers interviewed having a strategy in place to improve the age-diversity of their workforce.
However, new figures from YouGov and Ageing Better show that employers recognise the value of employing older workers: eight in ten (79%) say that older workers could help in knowledge and skill sharing, and over three quarters (76%) agree that older workers’ experience is crucial to the success of the organisation. A recent report by the OECD found that age-diverse workforces could create a more efficient, productive and profitable economy and raise GDP per capita by almost 19% in the next three decades.