Are Employers Doing Enough to Help with the Wellbeing of Older Workers?
The business world is going through a radical change to workforces right now. According to the Office of National Statistics (ONS), one in four workers in the UK is now aged over 50.
Research commissioned by the Department for Work and Pensions (DWP) found that from 2011 to 2014, the proportion of workers aged 50 and older rose from 21% to 24%. The same ONS survey estimated that, by 2030, the number of people in the UK aged 65 and older will have increased by 50%, while those aged 20 to 30 would see a 4% decline.
This figure may vary depending on a variety of circumstances including the location, industry, policies and more. One thing’s for sure though; these changes will have far-reaching consequences across society, including the workplace.
With this in mind, it’s even more important to acknowledge and invest in supporting the changing workforce. Organisations are now in competition for the best and most experienced staff.
In this article, we explore what this means for businesses. We identify areas where employers can further support their older workers and offer some tips for ensuring their wellbeing.
Older Workers and Wellbeing
Anyone that’s been in employment in the last five to ten years would no doubt have noticed the increased focus on employee wellbeing. It’s the trending buzzword relating to the health and safety of not only the physical but also the mental health of workers.
To keep your workforce happy (and by extension increase productivity), you should consider investing in both physical and mental support.
To achieve this for your older workers, you need to first consider what they need and want in the workplace. Research conducted by CIPD at the Centre for Ageing Better showed that just like younger workers, they’d also like a job that is meaningful, stimulating and sociable.
At the moment, older workers feel less appreciated compared to their younger counterparts. They’d like a job that’s not only flexible but also offers opportunities such as mentoring, training and career progression.
Benefits of Age Diversity
A study by Ageing Better shows employers report greater levels of loyalty, reliability and commitment from their older workers compared with younger colleagues. Their experience in life and in their sector places them in an ideal position to manage themselves and other members of staff.
According to a survey by CIPD, the number one benefit of age diversity in the workplace is knowledge-sharing. They found that 56% of HR decision-makers believe that older workers transfer vital knowledge and skills.
Having a diverse workforce, not only in age but also race, religion and (dis)ability can also help to solve complex work problems. By bringing a mix of ideas, skills, strengths, experiences and backgrounds, you’re ensuring that strengths and weaknesses are balanced.
Finally, because of the estimated increase of over 50 year-olds in the general population in the UK, age diversity in the workplace can help to match the profile of your customers which will, in turn, improve the product or services you offer.
4 Tips for Supporting Older Workers
• Be open to flexibility: This is important to workers of all ages. It helps them to create a balance between their work and social life. Specifically, for older workers, it also provides a transition period to retirement. Remember to inform your staff of their right to make flexible working requests.
• Mentoring: By allowing your older workers to mentor younger employers, they’re able to pass on their experience, work habits and attitudes towards work.
• Training: Some employers are concerned about this investment because they worry that they’re investing in someone who may soon retire. However, it’s worth noting, training these workers means as well as keeping their skills sharp, they’ll be more employable.
• Employee Assistance Programmes: As well as retirement benefits, you should also be supporting them while they’re still at your company. Offering employee assistance programmes gives workers access to support that’ll help them deal with personal problems that might impact their work performance or their health and wellbeing.
On top of all this, you should also be conducting regular one-to-one meetings to review their performance, offer feedback and keep on top of any issues.
My thanks to David Price from Health Assured for providing this guest post.