Maximising the silver generation

By 2022 the number of people aged between 50 and state pension age will have risen to 3.7 million, whilst those aged between 16 and 49 will have reduced by 700,000

Why am I telling you about the silver generation?

Because if the number of over 50’s (the silver generation) continue to leave the workforce as they have in the past, we will face a serious shortage of skills, which could impact on your business.

Whilst the default retirement age has now been abolished, and it is now illegal to discriminate based on age, it is still easy to make sweeping generalisations about older members of your workforce. But research by the NIESR shows that if all over 50’s worked an extra 3 years this would add a massive £55 billion a year to our economy by 2033.

So how can you maximise on your “silver” employees?

• Look at their skills and reflect on whether they are in the best position to utilise them – more mature employees are often great in customer facing roles for example
• Don’t assume because they are older they don’t have career aspirations or wish to take on more responsibility – ask them about what they want
• Treat each person as an individual – the challenges faced by one person will not be experienced by another. Make sure you know each member of your team and make appropriate allocation for their needs
• Ensure they are respected and valued as a member of the team
• Give your managers the skills to lead older team members – some young managers can feel intimidated managing older employees, it is up to you to give them the skills and confidence to carry this off effectively
• Offer flexible working options
• Remember experience is not something that can be taught – it is gained over time and often under valued. Are you sure you’re making the most of your employees’ experience?
• If you want to positively promote that you employ more mature people, avoid those clichéd stereotypes – no walking sticks and blue rinses. There are some fabulous high profile people who buck these trends. Be sure to use positive images to reinforce your messaging.

Remember to monitor your recruitment processes to ensure they are fully inclusive. Evaluate the number of applications you have from people over 50, and reflect on whether you are doing enough to encourage the older generation to want to work for you.

If you would like to maximise your workforce, please contact us on 01256 328 428.