Almost 4m older workers feel age discrimination

Published on

New research from Canada Life shows that 19% of workers aged 55 and over feel discriminated against in the workplace – this equates to over 3.9 million older workers.

The findings come as 37% of over-55s now expect to work beyond their state pension age (up from 33% last year). The research highlights the importance for employers to create a workplace where employees of all ages can thrive, Canada Life said.

UK adults say that flexible working (80%) is the most important measure an employer can offer to support and attract an older workforce. This was closely followed by having more part-time opportunities (78%) and anti-age discrimination policies (77%). A similar number feel that appropriate workplace benefits (76%) would help retain an ageing workforce while 75% are looking for new skills training.

Employees are also looking for more from their employer in terms of the protection products and services they offer. When thinking about working beyond their state pension age, employees likely to do so said income protection was the top product they’d like (40%), followed by critical illness cover (39%) and life insurance (36%).

Dan Crook, protection sales director, Canada Life, said: “The UK economy is facing a significant labour shortage due in part to the ‘silver exodus’ from workplaces. However, as some of these people think about un-retiring, this presents a significant opportunity for employers. Not only to focus on attraction and retention, but to entice older workers back into the workforce, creating diversity of thought and age.

“Now more than ever, employers must think carefully about how they can create and nurture a healthy and happy workforce, introducing benefits to suit a wide variety of circumstances and needs. Employing a mixture of workers of all ages will not only create an environment in which employees can share experiences and skills, but it will also bring a broad range of perspectives to the table.”

COMMENT ON MORTGAGE SOUP

We want to hear from you!
Leave a comment and get the conversation started.
You need to register to post, so please login or sign up below.

Latest articles

Higher borrowing costs ‘here to stay’ as gilt yields remain elevated

Long-term UK borrowing costs are likely to remain elevated near 5% even if geopolitical...

ModaMortgages introduces buy-to-let fixed rates from 4.14%

ModaMortgages has launched a limited edition range of buy-to-let mortgages, offering two-year fixed rates...

Fluxifi targets mortgage advice firms through Hackford partnership

Mortgage technology provider Fluxifi has entered into an exclusive partnership with Hackford to identify...

West Brom introduces 95% LTV mortgage and cuts variable rates

West Brom Building Society has launched a fee-free 95% loan-to-value (LTV) mortgage at 5.72%,...

Landlords increase reliance on letting agents as management demands grow

Letting agents are now involved in managing or letting 66% of rental properties, the...

Latest publication

Other news

Higher borrowing costs ‘here to stay’ as gilt yields remain elevated

Long-term UK borrowing costs are likely to remain elevated near 5% even if geopolitical...

ModaMortgages introduces buy-to-let fixed rates from 4.14%

ModaMortgages has launched a limited edition range of buy-to-let mortgages, offering two-year fixed rates...

Fluxifi targets mortgage advice firms through Hackford partnership

Mortgage technology provider Fluxifi has entered into an exclusive partnership with Hackford to identify...