Clive Sexton's Journal
Clive Sexton
Director, Impact Executives
Global Interim Management provider
clive.sexton@impactexecutives.com
+44 (0) 20 7333 1559
Great News for the Wrinklies! You are going to be in demand...
In our last
survey of Interim Managers, we revealed that the number of Interim
Managers in the 55+ category was increasing, this category represented
32% in June 2003 and 41% in December 2005. Looking at age demographics
statistics I was fascinated to discover...
- There are one million fewer British people in their twenties today than there were 10 years ago, and for the first time there are now more 55-to-64 year olds than there are 16-to 24-year-olds
-
Across the EU, the number of workers aged between 50 and 64 will increase by 25% in the next two decades, whereas the number aged between 20 and 29 will drop by 20%
-
Only 28% of 60-year-olds in the UK are in any kind of employment, part-time or full-time
-
At least 40% of people who retire early feel that they were forced to against their will and would rather have continued work
However with the 'New Age Legislation' being introduced late this year in the UK, it is good news all the way for all those fast developing wrinkles! This article in The Times caught my eye earlier in the week. What do you think, do older employees make better employees?
"IN
A remarkable turnaround, organisations are trying to retain their older
employees up to and beyond the official retirement age, and are even
looking to take on new staff from the ranks of the wrinklies.
The
change is being driven by several factors. The labour market has
changed, with skills shortages suddenly forcing companies to try to
keep older employees and look again at more mature job applicants.
Older employees are keener to stay at work, fearful that early
retirement will mean poverty in the longer term. To add an extra
urgency, new regulations banning age discrimination at work come into
force this year.
According
to the annual recruitment survey carried out by the Chartered Institute
of Personnel and Development (CIPD) published this month, 70 per cent
of employers are actively seeking to recruit people aged between 55 and
65, and an astonishing 31 per cent are looking for people already
entitled to the state pension.
Dianah
Worman, CIPDs adviser for diversity, says: "The change is excellent
news, older people are the future and we need their skills and
knowledge." There are problems in keeping older staff in place,
however. The main one being that many will have paid off their
mortgages and educated their children and want to spend more time
playing golf.
Worman
adds: "What do you do to keep them? They have made it economically,
possibly with a reasonable pension, so managers will have to think
differently to hang on to them."
She
says older employees may like the idea of a change of pace, perhaps
working part-time. They may also relish new challenges, such as
training or looking at long-term strategies.
"They
do not want to carry on in the same old job and not everyone will want
to continue full time, so everything must be more flexible, starting
from a clean sheet in terms of working practices. Many employers are
using older people as mentors."
Despite
their experience and seniority, they should also consider training in
new areas, and updating skills. "Older employees do not take part in
training as much as they should, saying what is the point? because they
feel that they know it all."
Experienced
employees are a resource that should not be thrown on the scrapheap be-
cause they have reached bus-pass age. Sadly, it is sometimes difficult
to distinguish ageism from concern about a persons continuing ability
to do a job. "Employers who turn older people down either have their
heads in the sand or are not telling the truth about performance
issues," she adds.
Some
people approaching retirement cannot wait to leave, says Manpower, a
recruitment consultant. Recent research conducted for the company by
NOP found that more than half of employers want to keep their staff
beyond the age of 65, but that 81 per cent of the employees have every
intention of stopping work on that birthday.
To
halt the rush to the trout stream, employers must offer flexible
working, says Mark Cahill, managing director of Manpower UK. When
people can expect to change careers at least three times in their
lifetime, flexibility is at the front of employers and workers minds.
"Employers must listen to workers concerns but employees need to be
aware of the needs of business. The challenge is to get the balance
right."
The
survey found that 84 per cent of employers believe that flexible
working will improve staff retention levels, and 63 per cent of workers
expect to be working flexible hours within the next decade.
In
future, ghastly retirement ceremonies with an embarrassed handing over
of a present and card and a drinks party may be a thing of the past.
Instead older workers will gradually fade away as hours get shorter,
appearances in the office less frequent and office time is spent
reminiscing, not working. When the employee wakes up one day to realise
he has not been to work for a year, retirement has happened."
Link to
original article in The Times and thank you to Management Today
magazine August 2006 for the statistics and the inspiration for this
posting.
Rush to keep workers over 65
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