Actively Engaging with the Inactive Labour Market

Our population in the UK is ageing and particularly since the pandemic, there has been a notable rise in economic inactivity in the 50 to 69-year-old age bracket.

Employers should recognise this growing trend and appreciate this increase will continue unless proactive measures are taken to reintegrate this age bracket into the workforce. Understanding the reasons behind the growth in inactive labour in the over 50s provides the insights required to create a strategy to re-engage this significant talent pool.

We have identified various factors that include:

– Caring for ageing parents

– Opting for early retirement during the pandemic and not returning in any capacity

– Exiting the job market due to lifestyle choices

– Health reasons

– Increased disposable income and personal wealth accrued during the pandemic, partly driven by increased savings and rising property/asset value.

– The pandemic and WFH have made work less appealing to older workers who value the office for social reasons; conversely, others in this age group have not been attracted to return to office-based work, having enjoyed the freedom of working from home.

– Lack of opportunities with skills retraining/CPD courses

Now, let’s look at how inclusive employers can attract the best talent from this growing pool of potential candidates.

Provide Flexible and Part-time Roles

Offering flexible, hybrid, and part-time work options helps cater to the needs of many individuals over 50. Flexibility appeals to experienced professionals who may be retired or unable to work full-time hours but are interested in part-time or project-based work.

Providing flexible, hybrid, and part-time roles is not just a progressive move for those over 50, it’s a strategic imperative for a sustainable and expert talent pipeline of all age groups.

Training/Upskilling and Mentoring

Modern employers can leverage the expertise of the more mature worker and should provide opportunities for upskilling where and when necessary. Investing in a mentoring programme designed for the older worker, with upskilling and regular CPD courses in areas needed to keep skills and knowledge time-relevant, can attract great candidates who may have a gap in their knowledge base. Once the requisite time is spent upskilling, employers can benefit from an invaluable team member.

Professionals over 50 bring a wealth of experience and deep knowledge and can make excellent mentors themselves facilitating the transfer of valuable knowledge to younger team members.

Age Diversity

Committing to age diversity brings a range of perspectives to your team and can enhance rapport with a varied customer base, benefiting your business operations. Supporting work-life balance and valuing the expertise of experienced professionals can significantly enhance your employer brand, making your organisation more attractive to top-tier talent.

A Strategic Win

Taking proactive steps to integrate this “segment” of the workforce is more than a gesture of goodwill; it’s a strategic advantage. It fosters a more inclusive workplace, taps into a rich talent pool, and drives your company’s and the economy’s success. Embrace this opportunity to attract and retain over-50s talent, and watch your business—and your people—thrive.

Reading Material:

• Recruitment & Employment Confederation
• ONS
• Institute for Employment Studies
• DWP

Lisa Wintrip
Director
Fletcher George Recruitment
lisa@fletchergeorge.co.uk