CIPD warns that employers need to act now to avoid losing their talent and competitive edge as the ageing workforce triggers a huge recruitment gap. UK Government figures show that an estimated 13.5 million jobs will be created over the next 10 years, but only 7 million young people will be available to fill these roles.
Older workers can plug this gap, the CIPD said, but employers must revisit their workforce planning strategies to accommodate this major change. To help employers make the most of opportunities and avoid potential pitfalls the CIPD has published a new guide called Managing a healthy ageing workforce: A national business imperative.
This issue is particularly pressing as further government figures reveal that 36 per cent of the UK’s working population will be over 50 by 2020, and the number of people aged 90 and over will triple by 2035.
CIPD research shows that older workers are increasingly looking to extend their working lives, with more than 50 per cent of workers aged over 55 planning to work beyond the previous state retirement age. Financial reasons are a key factor but many older workers also wish to continue using their skills and experience and enjoy the social interaction of the workplace.
Read the report: Managing a healthy ageing workforce: A national business imperative.