HSBC report shows that compared to rest of world UK is totally committed to older workers

Almost half of global employers do not recognise the value of older workers, according to HSBC bank’s Future of Retirement report.

The survey of 27,000 employees across 20 countries, revealed that just over 40% of employers believed in losing older workers to make room for a younger workforce.

UK employers were twice as likely to recruit older workers compared with the global average of less than a quarter (23%).

Nearly three-quarters (72%) of respondents rejected the notion of a mandatory retirement age and more than a third (36%) said people should retire when the time was right or when they are no longer able to work (25%).

Sign up to our weekly round-up of HR news and guidance

Receive the Personnel Today Direct e-newsletter every Wednesday

Email(Required)

OptOut

From time to time, we will send you emails about selected products, events and services from Personnel Today and OHW+ - but you can choose to opt-out at any time. If you do not wish to receive these emails, please tick this box.

Name

This field is for validation purposes and should be left unchanged.

Δ

A quarter of the respondents (25%) also said that recruiting older workers was too expensive.

Almost all UK employers (82%) said that losing older workers meant losing valuable skills.