Embracing the future workforce: The untapped potential of 50+

At the recent LinkedIn Talent Connect event, a pressing issue was highlighted by one of the keynote speakers, Lyndsey Simpson, founder/CEO of 55Redefined, on the future workforce, which all employers should be planning for.  

The reality is the future workplace will face a significant shortage of talent to meet demand. The simple reason? There are not enough babies being born. The speaker gave a generational example, which I can see reflected in my own family. My mum was one of 10 children, she had three children, I have none. The funnel is decreasing which is a global issue. In response to this concerning situation, some countries are incentivising families to have more children.

This challenge, however, presents a unique opportunity to rethink our approach to workforce planning and tap into the invaluable pool of those that are 50+. I can advocate as someone who sits in that demographic, has spent decades in the recruitment industry and is an employer, I have also witnessed the evolving dynamics of the workforce.

With advancements in healthcare and lifestyle, people are living longer, healthier lives. Despite this, societal norms and business practices still mean that there is a disproportionate focus on retirement and the upskilling of younger employees. It's time to shift this model and recognise the immense value that individuals in their third age bring to the workplace.  

Why focus on 50+?

The experience and expertise it brings: Individuals over 50 come with a wealth of experience and knowledge that can be instrumental in mentoring and driving business success. In fact, during the conference, reference was made to the baby boomer generation as ‘vintage’, which was well received and certainly endorses the immense value and experience this demographic brings to the workforce!

Role longevity: Many in this age group are eager to continue working, providing stability and reducing turnover rates.

Willingness to learn: Contrary to outdated stereotypes, many older workers are enthusiastic about learning new skills and adapting to new technologies.

At TPP, this has very much been on our agenda, and we are proud to say we have employees who are in their 30’s, 40’s, 50’s and 60’s. We have signed the Age-Friendly Employer Pledge committing to create an age-friendly culture and age-positive hiring.

The UK Civil Society Almanac 2024 reported that the voluntary sector had the oldest workforce of any sector in the UK with 28% of employees aged 55+, however this drops to just 5% when looking at the workforce over 65. As a side note, there is also a challenge within the sector to attract younger people with only 6% of the workforce aged under 25.

Age diversity is not just a matter of fairness; it's a strategic advantage.

Diverse teams that include older workers are often more innovative and resilient. By embracing age diversity, businesses can benefit from a broader range of perspectives and experiences, leading to better decision-making and problem-solving.

There’s more good news for the non-profit sector, with their desire for purpose driven work and flexibility, older workers can bring dedication and stability to organisations where talent acquisition is key. This is great news for the non-profit sector gaining a competitive advantage by working with purpose and championing flexible and remote working.

We cannot be short-sighted about this. As we look to the future, it's crucial for employers to get on board with sensible workforce planning that includes the valuable contributions of 50+ talent. By doing so, we can create a more inclusive, dynamic, and sustainable workforce that meets the demands of tomorrow.

If you want to talk more about the evolving workforce landscape and how this links to your recruitment planning, get in touch with me: 

• LinkedIn: Jayne Morris
• Email: jcmorris@tpp.co.uk
• Phone: 020 7198 6000

TPP are EDI champions and committed to aligning talent acquisition with your goals and vision. 

Together, we can create a workplace that not only meets todays demands but ensures a sustainable and inclusive future for all.