Making More of Older Workers Nottingham
Enlightened employers must start to design and implement radical new age management policies if they want to generate real business benefits from increasing worker longevity and the ‘demographic timebomb’. This means taking a strategic approach to employee retention and retirement and considering how older employees might best contribute, as this article explains.
Data Provided by:
Making More of Older Workers
Many of the key issues in today’s workplace are being driven by demographic and social trends that are only likely to intensify.
With an ageing population and fewer younger workers coming through, existing skills shortages are going to increase. Added to this, increasing numbers of older workers already need or want to work longer in response to financial insecurity and increasing life expectancy.
By taking action now, businesses will ensure that they will be able to retain the skills and knowledge of their best workers over a longer period of time in a highly competitive market, whilst adding to their image as enlightened employers. Ultimately they will see the benefits in terms of improved bottom-line results.
Growing older affects absolutely everyone and there is no magic cut-off or ‘sell by’ date when it comes to employee contribution. Research shows that contrary to popular belief, up to age 70 neither learning nor performance deteriorate in comparison with younger workers so there is no intrinsic barrier to mature employment.
What is important are the aptitude, attitude, knowledge, skills and motivation of each individual and it is these factors which employers must seek to address.
In the workplace of the future there must be a greater focus for all ages on the knowledge and skills required to see people through their lives into a ripe and fulfilled old age. This includes greater awareness of health and lifestyle issues, including more health screening; a greater understanding of personal financial planning; and – particularly important - continuing training and development.
In order to facilitate this there needs to be a greater emphasis on flexibility and planning over a longer period of time, focusing on regular career review and appraisal processes and the identification of each individual’s needs and aspirations in terms of current and future health, wealth and time issues.
Employers should recognise that whereas increased numbers of older workers will continue to want to work, they may not be motivated by the same factors as younger employees. The traditional carrots of salary rises and promotion are unlikely to be top of the list - the myth that ‘mature’ automatically equals ‘expensive’ needs to be shattered.
The opportunity to establish a good work-life balance, learn new skills and find new ways of contributing in the workplace are all likely to be more important for older employees, as is the ability to interact on an equal footing with colleagues of all ages.
In future, ‘retirement’ ideally should be a relatively seamless process, individual in its nature and reflecting the specific needs of both the business and the employee.
Just as people do not leave work one day ‘young’ and come back the next as ‘old’, so in the workplace of the future people should generally not be ‘employees’ one day and ‘pensioners’ the next.
Maturity and retirement are just one stage in a the whole transitional process of work and those employers who are astute enough to recognise this may well be those who flourish, while the less enlightened struggle and go to the wall.
Click here for more information from in my prime on making more of older workers.
With an ageing population and fewer younger workers coming through, existing skills shortages are going to increase. Added to this, increasing numbers of older workers already need or want to work longer in response to financial insecurity and increasing life expectancy.
By taking action now, businesses will ensure that they will be able to retain the skills and knowledge of their best workers over a longer period of time in a highly competitive market, whilst adding to their image as enlightened employers. Ultimately they will see the benefits in terms of improved bottom-line results.
Growing older affects absolutely everyone and there is no magic cut-off or ‘sell by’ date when it comes to employee contribution. Research shows that contrary to popular belief, up to age 70 neither learning nor performance deteriorate in comparison with younger workers so there is no intrinsic barrier to mature employment.
What is important are the aptitude, attitude, knowledge, skills and motivation of each individual and it is these factors which employers must seek to address.
In the workplace of the future there must be a greater focus for all ages on the knowledge and skills required to see people through their lives into a ripe and fulfilled old age. This includes greater awareness of health and lifestyle issues, including more health screening; a greater understanding of personal financial planning; and – particularly important - continuing training and development.
In order to facilitate this there needs to be a greater emphasis on flexibility and planning over a longer period of time, focusing on regular career review and appraisal processes and the identification of each individual’s needs and aspirations in terms of current and future health, wealth and time issues.
Employers should recognise that whereas increased numbers of older workers will continue to want to work, they may not be motivated by the same factors as younger employees. The traditional carrots of salary rises and promotion are unlikely to be top of the list - the myth that ‘mature’ automatically equals ‘expensive’ needs to be shattered.
The opportunity to establish a good work-life balance, learn new skills and find new ways of contributing in the workplace are all likely to be more important for older employees, as is the ability to interact on an equal footing with colleagues of all ages.
In future, ‘retirement’ ideally should be a relatively seamless process, individual in its nature and reflecting the specific needs of both the business and the employee.
Just as people do not leave work one day ‘young’ and come back the next as ‘old’, so in the workplace of the future people should generally not be ‘employees’ one day and ‘pensioners’ the next.
Maturity and retirement are just one stage in a the whole transitional process of work and those employers who are astute enough to recognise this may well be those who flourish, while the less enlightened struggle and go to the wall.
Click here for more information from in my prime on making more of older workers.