Personnel Today
  • Home
    • All PT content
    • Advertise
  • Email sign-up
  • Topics
    • HR Practice
    • Employee relations
    • Equality, diversity and inclusion
    • Learning & training
    • Pay & benefits
    • Wellbeing
    • Recruitment & retention
    • HR strategy
    • HR Tech
    • The HR profession
    • Global
    • All HR topics
  • Legal
    • Case law
    • Commentary
    • Flexible working
    • Legal timetable
    • Shared parental leave
    • Redundancy
    • Maternity & Paternity
    • TUPE
    • Disciplinary and grievances
    • Employer’s guides
  • AWARDS
    • Personnel Today Awards
    • The RAD Awards
    • OHW Awards
  • Jobs
    • Find a job
    • Jobs by email
    • Careers advice
    • Post a job
  • XpertHR
    • Learn more
    • Products
    • Pricing
    • Free trial
    • Subscribe
    • XpertHR USA
  • Webinars
  • OHW+

Personnel Today

Register
Log in
Personnel Today
  • Home
    • All PT content
    • Advertise
  • Email sign-up
  • Topics
    • HR Practice
    • Employee relations
    • Equality, diversity and inclusion
    • Learning & training
    • Pay & benefits
    • Wellbeing
    • Recruitment & retention
    • HR strategy
    • HR Tech
    • The HR profession
    • Global
    • All HR topics
  • Legal
    • Case law
    • Commentary
    • Flexible working
    • Legal timetable
    • Shared parental leave
    • Redundancy
    • Maternity & Paternity
    • TUPE
    • Disciplinary and grievances
    • Employer’s guides
  • AWARDS
    • Personnel Today Awards
    • The RAD Awards
    • OHW Awards
  • Jobs
    • Find a job
    • Jobs by email
    • Careers advice
    • Post a job
  • XpertHR
    • Learn more
    • Products
    • Pricing
    • Free trial
    • Subscribe
    • XpertHR USA
  • Webinars
  • OHW+

Latest NewsLabour marketAge discriminationSkills shortagesRetirement

Business must improve support for over-50s workforce, finds study

by Adam McCulloch 13 Aug 2018
by Adam McCulloch 13 Aug 2018 Photo: Shutterstock
Photo: Shutterstock

More than half of over-50s feel unsupported at work although millions of employees are planning to work longer than they had previously expected and despite the emergence of a widening skills gap in the UK, according to new research.

The study, by insurance giant Aviva, revealed that almost two-thirds of over-50s in work, 6.4 million people (out of 10.2 million), were planning to retire later than they expected to a decade ago.

Managing older workers

Employment law manual: Age discrimination

Discrimination in recruitment and selection

Discuss retirement plans with an employee

A rise in the number of over-50s in the workforce of 20% since 2012 made it imperative that companies became more supportive of older workers, the report stated.

Many of the 5,000 older workers surveyed said they were planning to extend their working lives because of the rising cost of living (40%) and insufficient pension savings (38%).

Despite fears over lack of support and a financially bleak retirement, the study reported that those aged 50 and over were more confident about their ability to keep up at work (41%) and their relevant skillset (37%) than their younger counterparts (36% and 33% for those aged between 25 to 34).

By 2030, it is estimated half of all adults in the UK will be over 50.

The survey found that the only measure of support that had genuinely improved since 2012 was the number of older workers offered the possibility of reduced hours and flexible working. This stood at 10% in 2012 but has increased to 14%.

Other indicators, such as the provision of independent financial advice and workshops on retirement finances, showed small improvements of a percentage point or two − which Aviva’s report described as “static”. For example, only 6% of employees had access to a dedicated member of staff qualified to discuss retirement issues, the study found, compared with 5% in 2012.

“By failing to support their staff,” Aviva’s report states, “employers risk creating a disheartened and discouraged over-50s workforce.”

The state pension age is set to rise to 68 by 2037 as people live longer.

Lindsey Rix, managing director of savings and retirement at Aviva said staff needed “fulfilling careers regardless of their age”.

Co-op, Boots, Barclays and Aviva are among the businesses that last year promised to increase the number of over-50s they employed by 12% before 2022, partly through “silver quotas”. However, Aviva’s research suggests progress has been slow in terms of the support UK companies are offering the older generation.

“Our findings suggest that older employees have a lot to offer at work, despite the challenges they face around workplace support. To make the most of this, employers need to provide rounded support for this generation where their well-being and work-related needs are considered alongside the financial challenge of saving for retirement.”

Today’s CIPD report on the fall in the number of suitable candidates applying for many jobs adds urgency to the need for organisations to adopt more older-worker-friendly policies.

The pensions and retirement landscape has changed considerably in recent years since the Default Retirement Age was abolished in 2011 with the state pension age being under regular review and currently set to rise to 68 by 2037.

Businesses have faced regular calls by charities and from the government to increase support for older employees in recent years as evidence emerged last year that the UK was lagging behind other countries when it came to harnessing the skills of older workers.

How employers can support the growing band of older workers

Adam McCulloch
Adam McCulloch

Adam McCulloch is a freelance writer and production editor who has worked in sectors including travel (The Guardian), aviation (Flight International), agriculture (Farmers' Weekly), music (Jazzwise), theatre (The Stage) and social work (Community Care). He also works for a national newspaper and is the author of KentWalksNearLondon

previous post
How smartphones can land employers in the dock
next post
Employers report lack of candidates and pressure to increase wages

Leave a Comment Cancel Reply

Save my name, email, and website in this browser for the next time I comment.

You may also like

Hybrid working trends: ONS data on where people...

23 May 2022

Aspers casino cashier excluded by colleagues wins £75k...

23 May 2022

NHS should upskill admin staff to reduce waiting...

23 May 2022

Pay gap between CEOs and employees set to...

23 May 2022

Plan to enforce minimum service during rail strikes...

23 May 2022

‘It’s International HR Day – wait, you didn’t...

20 May 2022

Policeman dubbed ‘Dolly Parton’ for working Nine to...

20 May 2022

Adapt culture to hybrid work: do not force...

20 May 2022

Women in FTSE 350 leadership: ‘A lot of...

20 May 2022

City firms pledge to improve social mobility in...

20 May 2022
  • Apprenticeships are the solution to your recruitment problems PROMOTED | Apprenticeships have the pulling power...Read more
  • What it really means to be mentally fit PROMOTED | What is mental fitness...Read more
  • How music can help to ease anxiety at work PROMOTED | A lot has happened since March 2020, hasn’t it?...Read more
  • Why now is the time to plug the unhealthy gap PROMOTED | We’ve all heard the term ‘health is wealth’...Read more

Personnel Today Jobs
 

Search Jobs

PERSONNEL TODAY

About us
Contact us
Browse all HR topics
Email newsletters
Content feeds
Cookies policy
Privacy policy
Terms and conditions

JOBS

Personnel Today Jobs
Post a job
Why advertise with us?

EVENTS & PRODUCTS

The Personnel Today Awards
The RAD Awards
Employee Benefits
Forum for Expatriate Management
OHW+
Whatmedia

ADVERTISING & PR

Advertising opportunities
Features list 2022

  • Facebook
  • Twitter
  • Instagram
  • Linkedin


© 2011 - 2022 DVV Media International Ltd

Personnel Today
  • Home
    • All PT content
    • Advertise
  • Email sign-up
  • Topics
    • HR Practice
    • Employee relations
    • Equality, diversity and inclusion
    • Learning & training
    • Pay & benefits
    • Wellbeing
    • Recruitment & retention
    • HR strategy
    • HR Tech
    • The HR profession
    • Global
    • All HR topics
  • Legal
    • Case law
    • Commentary
    • Flexible working
    • Legal timetable
    • Shared parental leave
    • Redundancy
    • Maternity & Paternity
    • TUPE
    • Disciplinary and grievances
    • Employer’s guides
  • AWARDS
    • Personnel Today Awards
    • The RAD Awards
    • OHW Awards
  • Jobs
    • Find a job
    • Jobs by email
    • Careers advice
    • Post a job
  • XpertHR
    • Learn more
    • Products
    • Pricing
    • Free trial
    • Subscribe
    • XpertHR USA
  • Webinars
  • OHW+