Given that the unemployment rate for those over the age of 50 has fallen to 3.3 per cent, the lowest it's been since 2009
businesses would perhaps be wise to review their policies and procedures so that they know they're offering their older workers the support they need.
Damian Hinds, employment minister, observed that it's obvious those over 50 years old aren't stopping or preparing themselves for retirement, adding that he wants businesses in the UK to support this while taking advantage of the expertise and skills these employees can bring.
"People in later life are increasingly looking to stay in work and it is important that more businesses look for ways to support them," he said.
Some businesses, such as Barclays which offers a Bolder Apprentices scheme to help people keen to start a new career later on in life, are already recognising just how valuable older workers can be. It could be worth having a look to see what other companies do to support older employees and to see if you could incorporate such practices and processes in your own workforce.
To get an idea of how employees view your place of business, it's certainly worth conducting exit interviews by sending out surveys for departing members of staff to fill out. You will soon find out what improvements your workers think you could make, especially important if you do have an ageing workforce and want to make sure you're offering them all the support you can. Call us at Exit Insight to find out more.