Leading businesses call on employers to recruit older workers
Business in the Community’s Age at Work Leadership Team is urging employers to recruit older workers.
The Leadership Team, which consists of leading companies such as Aviva, Barclays and Boots, and the Department for Work and Pensions, stated that older workers are vital to the future of the UK’s economy.
The call from leading businesses comes just as a report launched by Business in the Community showed that the number of people working in the UK aged over 50 increased by 2.5 million from 2005 to 2015.
The UK economy will need to fill 14.5 million job vacancies by 2022, but there will only be 7 million younger people to fill them.
The report also revealed that 1 million older people who are unemployed want to work and that if half of them were to be employed, then this would increase GDP by up to £88 billion per year.
According to The Leadership Team, retaining and recruiting older workers will help to close the labour gap.
According to Aviva UK and Ireland Life CEO and Business in the Community Age at Work Leadership Team Chair Andy Briggs, “The rising state pension age and the fact that most people are not saving enough for their retirement also creates a critical need for the industry to take action to ensure people can work longer, with opportunities that continue to be fulfilling and make best use of their skills and experience.”
He added that “This shift in demographics needs to be harnessed by business, not feared, because there are real advantages to any business in having a diverse and representative workforce.”