27 JUN 2023
Embracing Age Diversity: Support for over 50's
A recent report by Aviva, a leading UK Insurance, Wealth, and Retirement company, highlights a positive shift in employers' attitudes towards retaining employees over the age of 50. The study reveals that one in ten employers have implemented support systems in the past year specifically designed to accommodate and retain older workers. These initiatives range from apprenticeship programs and mid-life MOTs to job-sharing and partial retirement options. The report emphasises the value of older employees and the need for tailored support to recognise their individual needs.
The Importance of Retaining Older Employees: According to Aviva's Working Lives Report 2023: Fit for Future, an impressive 76% of employers believe it is essential to retain employees over the age of 50, with 32% considering it very important. Recognising the vast experience and skills older workers bring to the table, employers are beginning to understand the advantages of creating an inclusive work environment that caters to all age groups. Debbie Bullock, Head of Wellbeing at Aviva, emphasises the need for employers to provide support through avenues such as apprenticeships, mid-life MOTs, and flexible work arrangements.
Government Support and Employee Preferences: The UK government's recent 'Back to work Budget' allocated £70 million to support over-50s in remaining employed or returning to work. This investment recognises the value and potential of older workers in contributing to the economy. The Office for National Statistics (ONS) conducted a study on individuals aged 50-65 who left or lost their jobs during the pandemic and are now considering rejoining the workforce. The findings revealed that flexible working hours, good pay, and the option to work from home were key factors for older individuals when choosing a paid job.
Breaking the Linear Career Trajectory: The traditional notion of a linear career trajectory, where individuals steadily climb the corporate ladder as they age, is being challenged. Aviva's report highlights that some older workers value flexibility, social interactions, enjoyment, and overall well-being more than climbing the career ladder. Employers play a crucial role in encouraging their employees to utilise their skills in less demanding roles that align with their interests and preferences. Apprenticeships are not solely reserved for younger individuals and can be utilised to re-skill and transition older workers into alternative positions.
Expanding Support Initiatives: Aviva's Working Lives Report2023 also reveals that employers are introducing various support initiatives beyond age-related programs. Approximately one in ten employers have implemented new policies to support areas such as diversity, equity, and inclusion (DE&I), menopause symptoms, LGBTQ+ employees, neurodiverse employees, and employees facing fertility issues. Recognising and addressing the diverse well-being needs of their workforce not only demonstrates ethical responsibility but also has tangible commercial benefits. When employees feel supported, they experience reduced pressure, which leads to improved morale, motivation, productivity, and performance.
Conclusion: The increasing number of employers introducing support systems for employees over the age of 50 marks a positive shift in workplace attitudes towards age diversity. Aviva's report emphasises the importance of recognising the value of older workers and meeting their individual needs. By implementing initiatives such as apprenticeships, mid-life MOTs, and flexible work arrangements, employers can create inclusive environments that harness the skills and experience of all employees. Additionally, expanding support initiatives to address diverse well-being needs showcases the positive impact on morale, motivation, and overall productivity. Embracing age diversity not only benefits individuals but also has far-reaching implications for society and the economy as a whole.