The Benefits of Supporting and Hiring Older Workers

In today’s job market, there is a growing recognition of the value that retired professionals and older workers bring. In the year 2000, there were 457,000 workers aged 65 and above. At the end of 2023, the number of 65 and above-year-olds in the workforce stood at 1.43 million. As the state pension age increases, workers are staying in employment longer with retired professionals choosing to extend their careers.

With an increasing number of older workers and retired professionals in employment, businesses are presented with a unique opportunity. It offers a chance to receive a wealth of experience and expertise. What are the advantages of supporting and hiring older workers and why should businesses embrace this demographic?

Decades of Experience

One of the most significant benefits of hiring retired professionals is the wealth of experience they bring to the workforce. After decades of problem solving, and building and honing their skills, older workers possess invaluable knowledge for organisations.

These experiences and skills can easily be adapted to a contemporary working environment. Overall, this is because often it translates into more informed decision-making and a nuanced understanding of industry trends. They have also lived through periods of economic uncertainty and thriving growth periods. Furthermore, they can bring new ideas and different perspectives to an idea session.

In order to provide support to older workers in this area, encourage knowledge sharing in the workplace. Make the transfer of information reciprocal between older and newer team members. Pairing an older worker with a young apprentice, for example, could be great for career and skills development.

Retired professionals can serve as invaluable mentors to younger employees, offering guidance, wisdom, and insights gained from years of hands-on experience. By fostering intergenerational collaboration, businesses can facilitate the transfer of knowledge and best practices, ensuring continuity and fostering a culture of learning and development.

Diversity, Inclusion and Community Engagement

For many retirees, continuing or returning to work isn’t just about financial necessity. Instead, it’s a desire to stay engaged, socialise and contribute to society. In providing work opportunities or making adjustments for older workers, businesses can foster a positive social impact.

Within their team and the wider community, it shows an investment in embracing diversity and inclusion for all. By actively recruiting or making adjustments for older workers and retired professionals, organisations embrace age diversity. This fosters a culture of respect, appreciation, and mutual understanding. It challenges ageist stereotypes and promotes a more inclusive workplace where people of all ages feel valued and empowered to contribute.

As with any age demographic, there is no one-size-fits-all solution to attracting older workers to your company. Instead, focus on improving the company culture as a whole to appeal to everybody. Flexible working, medical support and providing learning opportunities can all be beneficial.

Lifelong Learning Opportunities

Learning doesn’t have to stop when you leave education. Encouraging continued, lifelong learning in the workplace is a great way to help people improve their skills. It can be confidence-building and can contribute to new ideas and innovative approaches to running the business.

Another misconception is that retirement signals the end of learning and growth. However, plenty of older workers are eager to embrace new challenges, skills and stay intellectually engaged. Whether it’s through providing learning opportunities or just promoting a learning culture within the business, this can inject fresh perspectives and drive innovation.

There are plenty of educational courses to build Maths, English, and Digital skills. You can also find qualifications to help develop skills in a variety of areas such as accounting, health and social, hospitality and more.

Supporting Older Workers

Harnessing the talents and experiences of retired and older workers isn’t just advantageous but essential for success. Making adjustments to the day-to-day running of your business can increase your attractiveness to a wider talent pool, including older workers.

By recognising the value that older workers bring to the table, and creating an environment supporting their continued participation, businesses can unlock new opportunities for growth, innovation, and sustainability.

Cornwall Opportunities and Cornwall Council’s Adult Education Service are working together to give the region’s adults access to qualifications and training opportunities.

The Cornwall Opportunities portal provides a place for both older workers and employers to access helpful resources and guidance. Access our Midlife MOT  which is designed to help people consider their health, skills needs and finance options to start a conversation about what they might need to stay in work.

For Employers, you can access the Employer Hub  for helpful signposting towards lifelong learning courses, embracing diversity and sharing vacancies.