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

Financial stress figures put customer vulnerability checks in focus

Financial services firms should take a more proactive approach to identifying customers who may...

Stamp duty blamed as home moves fall to once every 21 years

Stamp duty is deterring millions of people from moving home and restricting opportunities for...

Plug-in solar panels pose new insurance risks for property sector

Insurers, brokers, landlords and property owners have been urged to assess the risks presented...

Pepper Money reduces residential and buy-to-let rates

Pepper Money has cut rates across its residential and buy-to-let mortgage ranges and launched...

Barclays to launch 24-hour fast-track remortgage service

Barclays is to introduce a fast-track remortgage service that could provide eligible borrowers with...

Latest publication

Other news

Financial stress figures put customer vulnerability checks in focus

Financial services firms should take a more proactive approach to identifying customers who may...

Stamp duty blamed as home moves fall to once every 21 years

Stamp duty is deterring millions of people from moving home and restricting opportunities for...

Plug-in solar panels pose new insurance risks for property sector

Insurers, brokers, landlords and property owners have been urged to assess the risks presented...