Eight Out Of Ten Organisations Unprepared For The Ageing Workforce
09 Jul, 2013
Eight out of 10 organisations are not planning any policy changes to recruit, retain and engage older workers, according to a report out today.
This is despite existing skills shortages in industries such as energy and engineering, and estimations there will be 13.5 million job vacancies over the next 10 years, but only 7 million school and college leavers.
The report – ‘The Ageing Workforce – What’s Your Strategy?’ – highlights a significant new demographic challenge for employers. It is essential reading for organisations looking to transform the ageing workforce issue from a serious strategic threat into an opportunity.
Written by leading HR consultancy Talentsmoothie, and produced in association with HR magazine, the 54 page full-colour report features case studies from Barclays Wealth, BMW, Coursera, GSK, Sodexo and Vita Needle and shares best practice from 13 organisations. It also contains a practical diagnostic tool to help companies assess what action they should take now to reduce the risk of a talent shortage in the future.
Justine James (pictured), the report’s author, says: “Older workers are the main untapped source of hidden labour talent, but most organisations aren’t equipped to recruit and retain them. This has to change given the predicted future skills shortages and the proven business benefits older workers offer. Having a generationally diverse workforce encourages diversity of thought and can potentially mirror an organisation’s customer base.
“Talented and motivated mature workers have options. The over 50s have accounted for 85% of new business start-ups in the UK over the past two years. Without investment in finding out what interests and inspires this population, this valuable resource might walk out of the door.
“We have dubbed retirement the R-Word™, something few want to talk about – not openly at least! Fifty five per cent of the employers we surveyed said they don’t talk about retirement with employees. With the reality more like 80% according to employees, we have to talk about it. Social, political and economic changes mean this is a conversation that all of us, employers and employees, need to have, about a topic we must master.”
A free PDF e-sample of the report is available online, and the full printed report costs £345. There is also a corporate package consisting of six printed copies of the report plus a PDF version for distribution within each buyer’s organisation, total price £2000. For further information and to order go to the Talentsmoothie web site at www.talentsmoothie.com.
 CIPD Chartered Institute of Personnel and Development