In fact a poll by the Department of Work and Pensions, included in their Fuller Working Lives report, highlighted that older workers are seen by many employers as more reliable and productive, easier to manager than younger workers and are valued as mentors.
Here are six steps employers can take to retain over 50s workers:
1. Combat ageism
According to research from 55 Redefined, 39 per cent of employers admit to being less likely to recruit people over the age of 50, and only 35 per cent said they are prepared to retrain staff over that age. They also found that 92 per cent of workers in their mid-50s and over are prepared to take a salary cut to learn a new skill.
With this in mind, ageism is one of the first things in the workplace that employers need to address and check for signs of it in their training and promotion of staff, as well as whether older employees are disproportionately affected by redundancy or being encouraged to retire early.
Additionally, whether the recruitment and hiring practices are completely inclusive and in no way discriminate on the basis of age.
Age discrimination is not only illegal under the Equality Act 2010, but stamping it out could help foster a more inclusive workplace where staff feel valued whatever their age.
2. Offer flexible or remote working
According to the Centre for Ageing Better, flexible working is the number one incentive older workers say would help them to remain in work, helping them to manage caring responsibilities and their own long-term health conditions.
Flexible and remote working proved to be a success during the pandemic, and many businesses now have a hybrid working model.
For those serious about retaining older people, offering flexible or part-time working can encourage them to stay in work. It is also something that will appeal across the generations, with young workers especially often prioritising a flexible working culture over salary.
3. Focus on career development
Workers want to be challenged at every stage in their careers, but for some older workers this is essential to prevent boredom for those who may have been in the same role for several years.
Offering training and progression keeps someone happy and motivated, and employers need to train managers to support workers of all ages and skill levels, initiating additional management training as needed.
4. Consider sabbaticals
Giving long-serving employees a sabbatical to re-charge their batteries and take time to focus is likely to be highly appreciated.
People in their 50s can feel stale or worn out, so a few months doing something different such as travelling or volunteering on a project enables them to return to the workforce fresh and energised.
