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The ageing workforce: six elements employers need to consider
Working demographics are shifting as populations get older with many people preferring to postpone retirement.
“This isn’t just a UK problem – countries worldwide face similar challenges with rising life expectancies and ageing populations,” said Graham James, executive board member at Pluxee UK.
“Balancing the needs of older and younger generations and ensuring sustainable pension systems is a complex issue for policymakers."
In his article for HR News, James explains how the rising retirement age is a “double-edged sword” and details the steps employers can take to support their ageing workforce.
Here are six considerations employers need to take account of about their ageing workforce:
1. Digital healthcare
Unfortunately, as we age, we become more predisposed to illness. Our bodies produce fewer immune cells, making us more susceptible to illnesses such as heart disease, arthritis, diabetes, and more.
Our NHS is under immense pressure, and the longer it takes for employees to receive medical support, the longer they could potentially be absent or present but not able to work at full capacity – presenteeism.
Presenteeism and absenteeism cost the UK economy billions every year, so any steps employers can take to speed up access to GP appointments will help.
Digital Healthcare platforms can bridge the gap, giving employees access to appointments on the same day. The sooner a doctor can see them, the faster they’ll be on the road to recovery.
There are implications for mental wellbeing, too.
Pluxee UK shared that 38% of people said that accessing a GP via a digital health platform would reduce the stress of waiting for an appointment.
2. Flexible work arrangements
The retirement age may be rising, but it doesn’t mean full-time employment is the only solution.
Employees approaching retirement may opt for reduced hours, fewer office days, or even job-sharing opportunities to help them achieve better work-life balance.
Flexibility can play a vital role in gradually preparing them for retirement, and job-sharing creates opportunities for younger workers.
3. Health and wellbeing
Enhance your digital healthcare offering by making employee wellbeing a core value.
Pluxee UK’s CEO, Burcin Ressamoglu, and HR business partner, Tom Nash, gave a keynote speech on the growing importance and evolution of workplace wellbeing initiatives.
During the session, they shared personal stories about their experiences and discussed how the authenticity of any employee wellbeing strategy is crucial for its success.
This includes small but impactful steps, like modifying their workspace to meet their evolving needs.
4. Continuous learning and skill development
Not only is learning new things a proven way to keep our brains healthy, but with technology developing at such a fast pace, older workers need to keep up.
To continue to be at and give their best in their role, you should offer continuous learning and skills development opportunities.
Reverse mentoring is an impactful way for younger generations to share their expertise in new tech, CSR and DE&I.
Nurture these collaborative relations to allow all employees to thrive.
5. Utilise their knowledge
Older workers have a lot of experience to offer and have finessed the softer skills that many say are lacking in the younger generations.
Make mentors out of your older employees so their skills aren’t lost, and they can equip and inspire others who may one day take their place.
Mentoring and reverse mentoring also help reduce ageism – from both sides – ensuring the best possible employee experience and a culture of inclusivity.
6. Retirement planning and financial education
Pluxee UK’s Money Mastery research highlights the importance of and increasing demand for financial wellbeing in the workplace.
From budget management to retirement planning, employees are eager for support in making better financial decisions.
Whether through offering financial wellbeing benefits, internal training programmes, or advice from external experts, employers can make a significant difference.
In partnership with Pluxee UK
Pluxee UK, is a leading employee benefits and engagement partner that opens up a world of opportunities to help people enjoy more of what really matters in their lives.
