Ageism costing UK economy time and money

Thirty
per cent of men over 50 years old are unemployed because firms are ageist,
research finds.

Employers
are reluctant to adapt and retrain older staff, according to the survey by
Third Age Employer Network.

The
report claims UK businesses must change their attitude to older staff if the
country is to compete in the global marketplace.

Up to
£20bn a year is lost in productivity and taxes due to employers’ attitudes.

The
study concludes that because a third of the working population is currently
over 50, and the figure is expected to rise to 40 per cent by 2020, UK
organisations can’t afford to ignore the merits of employing older workers.

By
Paul Nelson

 

 

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