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100 years young

Does business have an age problem?

Episode 6

Every year in the UK, there are twice the number of people leaving the workforce through an ageing population than are entering it through education. Let that sink in. Double the number are finishing work than are starting. And, today, 32% of the UK workforce is over 50. Back in 1992, that figure was 20%.

We have an ageing population. We’re living longer, we’re working longer and yet according to employees and job seekers, there’s an unconscious bias against mature employees.

If there are fewer people entering the workforce, it’s imperative that businesses focus on all employees, especially the ones over 50.

And some already are.

Discover how McDonalds is benefiting from a multi-generational workforce. Hear from Alistair McQueen who discusses what Aviva did when they realised they were not investing in 85,000 years of corporate knowledge – and how they’re determined to win “the war on talent”. Find out why Andy Briggs from the Ageing Society Grand Challenge says that an employee over 50 will take fewer sick days than one in their 20s, and why Ed Humpherson from the UK Statistics Authority believes a single retirement age is out-dated.

Businesses who are investing in inter-generational workforces are future-proofing themselves. According to Sarah Crofts from the ONS, the number of people who have worked past state pension age in the UK has double over the past 10 years. And this is not just for financial reasons, some are “just not ready to retire”.

All this, plus great tips, including one for any mature jobseeker. Want to ensure you’re 500% more likely to land an interview? Listen now.

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ICAEW’s employment basics include a selection of thought leadership and practical guides to help accountants in business to make a real difference to their organisations.

All views expressed on this podcast are those of the contributors and don’t necessarily reflect those of ICAEW or its members.