New research from over 2,000 people (45+) has unveiled that older workers are tired of feeling overlooked and undervalued at work.
A staggering 48 percent of those considering retiring said this is because they are fed up with their job.
This is significantly higher than the 34 percent who said ill health would cause them to retire.
Over a third of the workforce is over 50, and predictions are that half the UK’s adult population will be over 50 by 2030. This new report from workingwise.co.uk has uncovered the impact of employers overlooking one of the biggest sectors of workers.
What would attract older workers back or encourage them to work for longer?
The survey found 62 percent of older workers said they need greater flexible working, 51 percent said they need to be valued more, 43 percent said they need higher pay, and 38 percent said they wanted a good employer benefits package.
Work-life balance is a huge issue for older workers: 85 percent say what they want from work has changed since they were younger, with the most significant reason [cited by nearly three quarters] being that they want more work-life balance.
Mandy Garner, Spokesperson for workingwise.co.uk, comments:
“Employers should overlook older workers at their peril. This segment of workers is getting bigger every year, and there are still significant labour shortages. At the same time, older workers are considering walking away because they feel undervalued and overlooked in the workplace. We also know that some could be and have been tempted back due to the cost of living crisis, but we need to understand better what might put them off and what would make a difference.”
What would they need to return?
When asked whether they would need to return to work or could be tempted back, 37 percent of those who have retired said they might, 32 percent said they couldn’t be enticed back, and 31 percent said they did not know.
When it comes to getting back into work, ageism plays a role; a majority, 55 percent of workers, revealed that they have experienced ageism in the recruitment process previously.
Of those who encountered ageism, 54 percent experienced it in the application process, 30 percent experienced it in job adverts, and for 33 percent, it was in the interview itself.
Over half (51%) want to change careers and 71 percent say employers do not value the soft skills gained through years of life experience. A quarter said training is prioritised for younger workers, and only 19 percent of older workers had been promoted in the last five years, with nearly a third feeling excluded from office social chat and events.
Mandy Garner continues, “There needs to be much more awareness of the different stages and needs in people’s working lives. Older workers feel very much undervalued and under the radar. Employers need to do more to understand and engage with this group if they want to retain them and make the most of all they have to offer.
Amelia Brand is the Editor for HRreview, and host of the HR in Review podcast series. With a Master’s degree in Legal and Political Theory, her particular interests within HR include employment law, DE&I, and wellbeing within the workplace. Prior to working with HRreview, Amelia was Sub-Editor of a magazine, and Editor of the Environmental Justice Project at University College London, writing and overseeing articles into UCL’s weekly newsletter. Her previous academic work has focused on philosophy, politics and law, with a special focus on how artificial intelligence will feature in the future.
