How hiring over 50s could solve your recruitment headaches

1 - Over 50s aren't working
2 - Why does this matter?
3 - Why are they not working or leaving work?
4 - Will they return?
5 - What might attract them?
6 - What to do next?

Over 50s aren't working

Post-pandemic, workers over 50 years old have left the job market en-masse. Jobtrain's co-founder Alison Keeling wrote about this in our January article "Where have all the workers gone?" 👇

"People in the over 50 age group have taken stock of their work situation and in some cases are now less interested in furthering their career growth and more interested in achieving a better life balance. And that means flexible working, flexible hours and possibly a culture shift from the employer to positively embrace this choice rather than begrudgingly accept."

Economic inactivity in the over-50s age group took a downturn in the pandemic, reversing the downward trend of the previous 10 years (87,000 higher from 2019 to 2021 according to ONS data).   

Those aged 50 years and oversaw the largest increase of inactive people – those not working - among all age groups since the start of the pandemic, following a historical downward trend since records began in 1971.

Why does this matter?

Over a third of the workforce is over 50, and predictions are that half the UK’s adult population will be over 50 by 2030. Let’s be clear: 50 is not old!

Life expectancy in the UK is 79 for males, and 83 for females. People in their 50s are typically experienced professionals or senior managers, and who less experienced or junior workers look to for leadership, guidance, and knowledge. For this group to be inactive is surely damaging to organisations?

Why are they not working or leaving work?

The same data reveals 75% of them left work of their own accord and the majority (77%) of adults aged 50 to 59 years said they left their previous job sooner than expected compared with 57% of adults aged 60 years and over.

A survey of this age group by WorkingWise found that:

• 48% of those considering retiring said this is because they are fed up with their job. 
• 55% of workers, revealed that they have experienced ageism in the recruitment process previously. 
• 51% want to change careers and 71% say employers do not value the soft skills gained through years of life experience. 
• 25% said training is prioritised for younger workers, and only 19% of older workers had been promoted in the last five years. 
• 33% felt excluded from office social chat and events. 

Will they return?

ONS survey found 69% would consider returning to work or are currently looking for paid work on a part-time basis.

What might attract them?

• 69% would consider returning to work or are currently looking for paid work would like to return on a part-time basis according to the WorkWise survey. 
• 62% want greater flexible working 
• 51% percent said they need to be valued more 
• 43% said they need higher pay 
• 38% said they wanted a good employer benefits package. 

What to do next?

Convince your organisation of the merits of part-time and flexible working to tap into this large talent pool by tempting the over-50s back into work, alongside well thought benefits such as grandparent leave and medical cover. 

Make sure your Employee Value Proposition (EVP) is updated to reflect these opportunities and benefits, and is relatable to the target audience. 

Work with your L&D team or business leaders to address cultural changes and training. Almost 50% of jobseekers are looking for either better benefits or a career change. Go back to your candidate experience and make sure you show off what's valuable about your culture and the jobs on offer!

Make sure your reporting mechanisms are capable of measuring the impact and the outcomes of these efforts, and split by age bandings. Jobtrain's Guide to Data might be useful.