The latest data from the Department for Work & Pensions (DWP) suggests only a small increase in employment for those aged 50 and over and, at the same time, the UN has released its projections that the worldwide population aged 65 or older will reach 2.2 billion by the end of the 2070s.
This means that workplaces of the future will have to support older workers better or face a talent shortage and risk being left behind.
Commenting on the DWP’s latest data, Kevin Fitzgerald, UK Managing Director at Employment Hero said that employers are not currently accessing older workers’ full potential by failing to give them adequate support.
Older workers ‘job hugging’
This is increasingly leading to a situation where many older employers are sitting in jobs driven by job security rather than ambition or fulfilling their potential, a trend he calls ‘job hugging’:
“Job mobility is essential for growth, and more support is needed to help older workers navigate today’s complex labour market. As emerging technologies reshape workplaces, businesses have a responsibility to ensure all employees can develop the skills needed to future-proof their careers. Well-structured training programmes can help ensure older employees aren’t left behind.”
Employment Hero’s own data shows that 58% of over-55s lack confidence in their ability to find a new role quickly, and only 6% started a new job in the past year, compared with 35% of 18-24 year olds. It also shows 45% of employees over 55 now prioritise job security over ambition, while just 20% are considering a career change.
Not just physical support needed
Bethany Ward at Access BDD, a stairlifts provider and mobility solutions specialist, echoed the need for more support in her comment that:
“Employers must adapt so that their businesses are serving workers who are aging. This should not just be focused on physical elements either. While this is very important, companies also need to think holistically so that workplaces are set up to enhance wellbeing and encourage inclusivity.”
Case for supporting older workers
Ward makes the case for employers doing “all they can to hire and retain older workers” because:
- It creates an age-diverse workforce, which the Organisation for Economic Co-operation and Development predicts could raise GDP per capita by close to 19 per cent across the next 30 years
- An age-diverse workforce means that workers from many walks of life can offer fresh perspectives and unique views on ideas, problem-solving matters and opportunities to grow
- Older workers who have been in the same industry or company for many years will usually have a lot of skills and experience, which can prove invaluable when knowledge sharing throughout a workplace
- Older workers will have a lot of wisdom and networking which they can pass on to younger employees if they were to be involved in a company’s learning and development programme
Measures employers should have in place
She called on employers to ensure that the following measures are in place for older workers:
- Accessible signage to areas like bathrooms, changing rooms and the kitchen which is clear and placed at eye level
- Assisted listening devices
- Doorways which are wide enough to support mobility aids
- Ergonomic chairs around desks, which come complete with armrests, the ability to alter the seating height and adjustable lumbar support
- Flexible workstations, such as standing desks or breakout areas with soft seating
- Keyboard and mouse ergonomic supports
- Lighting that does not have a harsh glare or is overly dim
- Monitors which can be adjusted in height
- Non-slip flooring
- Ramps, stairlifts and handrails wherever stairs are positioned in a workplace or to gain entry to it
- Restrooms being installed with height-appropriate sinks and grab bars
- Varying countertop heights
- Working lifts
To discuss this topic more, come along to MAD World Leaders Summit in London on 9th October and join our roundtable entitled “Jaded and Underserved? Rethinking Retention for Over-50 Employees”. This discussion is being facilitated by Nimisha Overton, EMEA Diversity, Equity & Inclusion Lead, Canon. To see the full agenda and register see here
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