UNLOCK THE OPPORTUNITIES OF MULTIGENERATION TEAMS
The workforce in the UK is changing fast and you need to act now to unlock the opportunities of multigeneration teams. By 2020 one in three workers will be over 501, and by 2030 half of all adults in the UK will be over 502. Understanding the challenges and opportunities of an ageing population is vital if we all want to create productive, innovative and inclusive multi-generational teams as we all lead longer working lives.
The Business in the Community (BITC) age partnership supports employers to respond effectively to the ageing population and the needs of older workers and to leverage the benefits of effective intergenerational working.
TOGETHER WE THRIVE
- If the employment rate of people aged 50-64 matched that of those aged 35-49, it would add more than 5% to UK GDP, or £88 billion.
- By 2020 the over 50s will comprise almost one-third of the working-age population and almost half of the adult population.
- The UK employment rate at aged 50 is 83%, dropping to 64% at aged 60. 3
To reduce the barriers faced by the over-50s in recruitment processes
Our research found a missing million of people between 50 and state pension age who have been forced out of work. We need to tackle barriers such as health and caring responsibilities to prevent early exit, and deal with the challenges and unconscious bias in the recruitment processes that make it hard to for the over-50s to secure employment.
The world of work is changing rapidly and responsible businesses need to make sure that age does not stand in the way of supporting their workplaces to adapt.
To support the development of intergenerational workplaces
Intergenerational workplaces are a huge opportunity – different age cohorts have shared experiences, which have an impact on how they see the world. Employers need to identify and understand what different management techniques are required for managing intergenerational workforces, from millennials through to the baby boomers who are redefining retirement.
To support business in adopting a flexible approach to employing the over-50s
The amount of people working beyond state pension age is already at 1.1 million4. They are the pioneers – more of us will choose or need to work in later life. Business needs to flex and adapt to this in working practices.
We encourage businesses to help facilitate longer working lives by supporting a culture of agile and flexible work.
Age and the digital responsible business agenda
Our Brave New World report showed there is a considerable gap in the representation of technical roles with digital technologies positioning society at a cross-roads towards greater equality. For example, while digital technologies offer a democratisation of access with people able to teach themselves skills that are in high demand for free without the need for formal education, there is a risk that the rapid technological pace of change and stereotypes of young ‘digital natives’ will only add to the barriers to employment older people face.
BITC’s Responsible Digital Business programme seeks to work with organisations to ensure that this digital transformation is ethical, sustainable and inclusive, and that their innovations are developed in recognition of these challenges.
Find out more: Digital Responsible Business – our four calls to action
TOGETHER WE ARE A FORCE FOR GOOD
TOGETHER WE CAN CHANGE THE WORLD
1. Office for National Statistics, Labour market projections 2006-2020
2. Department for Work and Pensions, Fuller Working Lives: evidence base 2017, at page 13, accessed 26 June 2018
3. Missing Million: Recommendations for Action
Available upon request
4. Half a million workers past pension age may be paying unnecessary tax on their state pension (2019) Royal London; available at royallondon.com