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20 Apr 2023
by Kelly McCabe

Ensure benefits support multi-generational health and wellbeing

The ageing workforce is an important factor behind the business case for investing in employee wellbeing

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A UK parliament report published in March 2023 revealed that almost half a million 16-24 year-olds were unemployed in the previous November – a rise of 27,000 on the quarter before.

In contrast, and according to the CIPD, since Q1 2008, the number of people aged 50-64 in employment has risen by 842,000 – the largest increase across any age group – while the number aged over 65 in employment has also risen, by 437,000.

Since the compulsory retirement age was abolished in 2011, people can work for as long as they choose and are able. As the workforce becomes increasingly age-diverse, how can employers best support their growing ageing population?

The future of work is older

That the UK workforce is ageing rapidly is reflective of broader population change (the number of people over 50 is simply increasing) but also that more over-50s are choosing to work and working for longer.

What’s more, the economy needs them. As their retirement looms without the prospect of enough young people entering the workforce to replace them, businesses face a significant skills gap. When this happens, productivity and performance will slow – at the level of individual businesses and the economy as a whole.

It is vital, therefore, to support the health of older employees. While more of this age group might be working than ever before, the CIPD notes that poor health is one of the biggest factors keeping them out of the workplace. Long standing illness or disability increases with age, according to BMA data. One-fifth of UK 16 to 44-year-olds have a long-term health issue, compared with one-third of 45 to 64-year-olds and half of 65 to 74-year-olds.

Surprisingly younger workers actually more often absent than older colleagues, however, for older workers who do have health problems, absences are likely to be longer and therefore more expensive.

Health conditions among the over-50s

A 2018 report by the National Institute for Health and Care Research found that 62% of people over 65 will be affected by arthritis, 55% by high blood pressure, 24% by respiratory disease and 23% by cancer.

However, the greatest prevalence increase was for cancer, which had doubled from 12.6% in just three years. One in two people will now get cancer in their lifetime, and cancer incidence rates rise steeply from around age 55-59. According to Cancer Research UK, adults aged 50-74 account for more than half of all new cancer cases.

Savvy employers should take note. In the US, cancer has already outstripped musculoskeletal conditions as the most costly healthcare condition and the costs associated with cancer can be disproportionately high.

As the average workforce rapidly ages, these costs will only increase. A greater prevalence of cancer means more PMI claims by employers, which drives premiums ever upwards.

It’s an interesting predicament for employers: the need to provide increasing healthcare for their ageing workforce, whose rates of cancer are rapidly multiplying, yet facing a future in which the cost of cancer alone could overwhelm budgets. Businesses may be forced to seriously consider making cuts elsewhere to fund healthcare.

Wellbeing strategy for an ageing workforce

The ageing workforce is an important factor behind the business case for investing in employee wellbeing. It’s vital that organisations have a strategy to identify health issues, support employees through illness and facilitate a timely return to work.

However, CIPD research shows that fewer than 15% of organisations have such a strategy in place. Most say they deal with health challenges as they arise, while more than 20% say they are not aware of challenges that might emerge or have not considered the issue of an ageing workforce at all.

When it comes to cancer, it’s important to look at it from prevention, to those living with and beyond cancer and their carers. As an example, there is a growing body of evidence showing a link between low levels of physical activity and conditions such as obesity, cancer and dementia.

So it makes sense to educate and facilitate opportunities for employees of all ages to move regularly. And by actively supporting employees living with and beyond cancer – for instance, with specialist support to manage treatment side-effects – employers can save on the cost of a delayed return to work, a diminished workforce and potential recruitment.

Including carers in the conversation

The Centre for Ageing Better has called for the creation of workplaces that support longer working lives, including ‘Legislating without delay for enhanced flexible working rights and carers leave.’

Carers are often forgotten in policies around absence and inclusion, in part because businesses often do not know who in their organisation is caring for someone with a health condition.

Macmillan estimates that more than 30% of the UK population is caring for someone with cancer, rising to 47% for those aged 47-64. So it follows that as cancer incidences rise across this age group, so do incidences of employees who are juggling work with caring. The need for flexible working policies and leave for this group is paramount.

It’s becoming clearer that the future of work is, indeed, older. The benefits of an ageing workforce are plentiful, including keeping vital skills and experience within the workforce, for longer. However, if one thing is clear, it should be the need for solid strategies that future-proof businesses against diseases of age, including cancer.

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