The case for older workers
The workplace does not look the same as it did 20 years ago — and neither does the workforce. Today, there are almost 11 million workers aged 50 or over in the UK. That’s a third of all workers and four million more than 20 years ago.
The current skills and labour shortage is costing the UK economy £6.6bn.
Older workers provide balance and diversity to a multigenerational workforce, which is proven to be more productive and innovative. But older workers receive significantly less opportunities for training and development in the workplace, and employers need to think about offering more opportunities to employees who are in their 50s and over.
Its time to reframe how we think about workers in their 50s, 60s and beyond. People over 50 are an increasingly important part of the workforce.
Age-friendly employment benefits us all and age-inclusion does not compete with other diversity efforts. Age-friendly policies — like flexible working, open conversations about health, and de-biasing recruitment processes — help everyone.
Get it right for older workers, you get it right for everyone.
To get the best out of older workers, you need to create a working culture in which they feel valued and able to contribute. Research consistently shows that positive working cultures not only improve employee engagement, retention and wellbeing but also boost productivity and performance.
There are many reasons why workers over 50 are an asset to any employer. Here are just a few:
- Experience and expertise
By definition workers in their 50s, 60s and beyond have had many years of experience in the workplace and plenty of time to develop their skills. This means they have a wealth of knowledge and expertise to bring to the team.
- Perspective and resilience
A huge benefit of experience is the ability to take a longer-term perspective. This can mean a greater ability to accept that things ebb and flow over time, which in turn builds resilience. This puts older workers in a strong position to cope well with change and challenging times in the workplace.
- Strong work ethic and stability
Culturally, evidence shows that individuals over 50 tend to have a strong work ethic. They also tend to stay in jobs or workplaces for longer, which provides stability.
- Opportunities for mentoring and support for younger workers
A strong multigenerational approach means that younger workers can benefit from the experience and wisdom of older workers through formal and informal mentoring and support. Making the most of this can boost the confidence of both groups, as well as building bonds.
- Diversity of approach and opinions
Having a range of backgrounds, experiences and backgrounds in a team — and creating an environment in which all of these can be heard — is proven to lead to better decision making.
