How HR Directors are helping the over 50’s back into the workplace

Attracting and retaining the right people is one of the most pressing issues our clients talk to our HR Directors about. In our Business Leaders Survey in 2022 recruitment and retention were cited as the top 2 people challenges facing businesses. Since the pandemic, a wave of early retirement in the over 50 age group has contributed to the huge labour shortage across the UK: according to figures quoted in People Management in February 2023, around half a million people aged 50-64 have left the workforce without returning since March 2020.

This raises several concerns, both for the individuals concerned who may be compromising their own financial stability, to the growing skills gaps in UK businesses. It’s a dilemma that poses many challenges, and one which many businesses would benefit from specialist HR expertise to navigate the problem.

While for many, the choice to retire early may be perfectly comfortable, for others it has been a more enforced process, and employers have a role to play in encouraging this experienced sector to return to the workplace and making it more accessible to them. With the British government weighing in and calling on over 50s to return to the workplace, we’ve taken a look at how UK businesses could benefit from a more strategic approach to people management.

Why is this older workforce so valuable?

The government has announced measures to increase workforce participation and encourage the over 50’s back into jobs to help boost the economy. As Jeremy Hunt said, “Older people are the most skilled and experienced people, and no country can thrive if it turns its back on such a wealth of talent and ability.” Yet many people aged 50-64 are met with resistance when they try to re-enter the workforce, while others feel they have outlived their professional usefulness.

Outside of boosting the economy, there are clear benefits to encouraging older workers to remain in or return to employment, and research shows that they are often more loyal, experienced, and reliable than younger counterparts. They also tend to have lower rates of absenteeism and a stronger work ethic which can help boost productivity and overall organisational performance.

Collaborative and supportive multi-generational workforces cultures offer the best of both worlds for businesses but can be difficult to achieve.

Five ways Strategic HR can play a vital role in encouraging over 50’s back to work.

A part-time HR Director is well positioned to help your business in developing targeted policies and practices that address the unique needs and challenges of this demographic. These might include:

Targeted recruitment and retention strategies which are tailored to this demographic, such as flexible working arrangements, part-time or project-based work, or phased retirement options.
Creating development and training opportunities specially designed for over 50s. The government announced an introduction of ‘returnships’, skills bootcamps and sector-based work academies making them more appealing for older workers. This might include upskilling or reskilling programmes to help them adapt to new technologies or changes in the job market or mentoring programmes that pair them with younger workers in an inclusive, non-patronising way.
Fostering a multi-generational, age-friendly workplace culture that values the skills and contributions of workers of all ages. An experienced HR director can work to create this type of business culture by challenging age stereotypes and biases, creating opportunities for intergenerational collaboration and mentoring, and offering wellness programs that address the specific health concerns of older workers.
Addressing health and well-being concerns. Older workers may have health concerns that need to be addressed for them to work effectively, as well as family or caring commitments outside work that require additional support. From providing access to wellness programmes, health screenings, and occupational health support to help workers stay healthy and productive, there are multiple ways an experienced people expert can shape your employee offering to be more appealing to all age groups.
Implementing a robust people strategy which looks at long term succession planning, skills and experience gap-filling and inclusive, multi-generational culture building. This really is essential to ensure your business is well placed to attract and retain the very best talent in the market. Not all businesses have the resource to support a full-time role in this area, which is exactly where we are able to help.

How best can you retain your over 50’s?

Many over 50s have caring responsibilities or health issues that can make it challenging to work a traditional 9 to 5 schedule. Offering flexible working arrangements such as part time hours job sharing, four-day weeks or remote working can help retain these workers.

Creating opportunities for phased retirement could make for an attractive proposition. Some may wish to reduce their hours or transition to retirement gradually. Providing opportunities for phased retirement can help to retain these workers by allowing them to continue contributing their skills and experience, while also providing a pathway to retirement that meets their needs.

Above all, fostering a respectful, inclusive and collaborative culture which welcomes and values the experience of people of all ages and backgrounds is always important to ensure a motivated and productive workforce. Cultures like this are not created overnight and often require a great deal of experience to embed.

What next?

If you your business is struggling to retain the over 50s workforce, has encountered resistance to a multi-generational workforce, or you are looking to bring this age group back to your team, a strategic, part-time HR Director can provide the support and guidance you might need to successfully.

People Puzzles can help to create an inclusive and supportive workplace culture that values the contributions of over 50s, ensuring they remain engaged and highly productive members of your team.

To set up a free 30-minute consultation with a people expert in your region, please get in touch call 020 3633 6830 or email [email protected] for a chat.

Alternatively, you can take our free HR Healthcheck to receive an in-depth report on your current people practices which can be a big help in identifying your best people opportunities. In return, we’ll send you a detailed report which helps you to gauge your current people strategy and identify where you might benefit from some expert support.