It is estimated that UK employers will need to fill an estimated 13.5 million job vacancies in the next ten years, though only seven million young people will leave education over this period, meaning older staff will increasingly be relied upon to plug the gaps.
CIPD data shows that 36 per cent of the working population will be aged over 50 by 2020 and, while some employers have begun to manage the issues associated with an ageing workforce, a lack of expertise and awareness around changing demographics may be holding others back.
Dianah Worman, diversity adviser at the organisation, said that firms which respond appropriately to the challenges of an ageing workforce will gain a "significant competitive edge".
This will be not only in terms of recruiting and retaining talent, but also through supporting the wellbeing and engagement of workers of all ages, she noted.
"The business case for older workers is strong and research shows their impact and experience within the organisation enables better customer service, enhanced knowledge retention and can help to address talent and skills shortages," Ms Worman added.
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Posted by Richard Esquilant
Source: The Sales Executive News