It has been calculated that there are around 300,000 fewer people in the workforce than there were before the pandemic.
At the same time as employers complain about recruitment difficulties, research carried out in the autumn of 2022 by CMI (Chartered Management Institute) found that there was considerable reluctance to consider taking on older workers.
In a survey of more than 1,000 managers working in UK businesses just four out of 10 (42%) were open “to a large extent” to hiring people aged between 50 and 64 while just 18% of managers said they were open to a large extent to hiring people aged over 65.
Ann Francke, chief executive of the CMI, said the findings pointed to cultural and leadership failings in businesses of all sizes.
Yet there are many benefits to employing older workers.
Older workers are likely to be more settled as well as having better problem-solving, productivity and output, and smarter decision-making skills.
They are usually able and willing to learn new skills and, thanks to their accumulated life skills, are often better at dealing with customers. This often also makes them positive role models for younger employees as well as potential mentors.
Ideally, a business will benefit from a mix of older and younger employees combining both the steadying influence and wisdom of the former with the innovative skills of the latter.
Can your business afford to miss out on any of this?