Address policies to meet growing number of older workers, say Skillsoft
There needs to be a rewiring of policies and practices to meet the growing number of older workers in the business.
That's according to Kevin Young, general manager, Skillsoft EMEA, who believes that organisations who fail to comply with this change could harm the development of their business.
The Lords Committee yesterday warned that government and society at large are unprepared for the ageing population and called for government and employers to work together to help older people remain in the workforce.
Speaking about possible consequences, Young said: "Following the latest parliamentary inquiry on the 'ageing population', the Lords Committee on public service and demographic change has called for employers and the government to work together to help older people remain in the workforce.
"While enabling the older generation to remain in the workplace for longer is a vital step in addressing the issue of an ageing population, it will only work if accompanied by a change in thinking by organisations. This includes reworking policies and practices to meet the needs of this growing number of older workers in UK businesses."
Young suggests that firms rethink their "training solutions" before a bigger skills gap begins to form.
"Our research shows that currently only eight per cent of UK companies invest in training for the over 60s, but if we are to remain in the workplace longer then this has got to change. Employees are often considered an organisation's best asset, yet many are failing to recognise the value of the older generation, whose numbers in the workforce are only going to grow.
"Organisations need to be considering and preparing for this shift now or risk damaging the future development of their business. The older generation can add so much value to a company with their experience and this potential change in employee demographics should be a catalyst for businesses to rethink their training solutions and budget allocation before a wider skills gap emerges."