Search
Close this search box.

In the face of skills shortage, the silver talent drain is a worrying trend

Steve Butler, Chief Executive at Punter Southall Aspire isays employers must stop neglecting the over 55s and invest in their training and coaching as they still have a significant contribution to make. Steve says, “One in three employees will be over 50 by 2025[ii]. They make up an important part of the workforce and have vital skills and experience employers want to retain. “Companies should be focusing on employees at all stages of their working lives, and not forget that older workers benefit from training and development to keep their skills up to date so they can continue working for as long as they wish.

New research reveals that adults aged 55 and over are at highest risk of being left behind when it comes to workplace training – making their skillsets less relevant and these individuals less employable.

The research, from City & Guilds Group[i] found that people aged 55+ are the least likely to have undertaken formal workplace training in the last five years, with only half (53%) having done so. This compares to 67% of 35–54-year-olds and 83% of 18–34-year-olds.

Steve Butler, Chief Executive at Punter Southall Aspire is an author of several business books on age diversity in the workplace. He says employers must stop neglecting the over 55s and invest in their training and coaching as they still have a significant contribution to make.

Steve says, “One in three employees will be over 50 by 2025[ii]. They make up an important part of the workforce and have vital skills and experience employers want to retain.

“Companies should be focusing on employees at all stages of their working lives, and not forget that older workers benefit from training and development to keep their skills up to date so they can continue working for as long as they wish.

“Conducting midlife career reviews with employees in their 40s and 50s to discuss career plans, health and wellbeing and their financial goals is simply good practice. It helps employees plan the second phase of their career, and employers to understand how they can best be supported. This includes discussing what training they might need, as well as the working patterns and employee benefits that are needed.”

“An effective midlife review can prolong a career and mean the last ten or twenty years of a person’s working life is their most productive and rewarding.”

Steve Butler’s book Manage the Gap: Achieving success with intergenerational teams, o-authored with writer Tony Watts OBE

www.psaspire.com

    Read more

    Latest News

    Read More

    What’s more important, investing in software or investing in people?

    4 May 2024

    Newsletter

    Receive the latest HR news and strategic content

    Please note, as per the GDPR Legislation, we need to ensure you are ‘Opted In’ to receive updates from ‘theHRDIRECTOR’. We will NEVER sell, rent, share or give away your data to third parties. We only use it to send information about our products and updates within the HR space To see our Privacy Policy – click here

    Latest HR Jobs

    Anglia Ruskin University – HR SystemsSalary: £56,021 to £64,914 per annum

    University of Reading – Human ResourcesSalary: £33,966 to £37,099 per annum

    This is a unique opportunity to have an impact on the future of health and care in the Isle of Man and directly contribute to

    Access to the Isle of Man Public Service Cycle to Work scheme after your first year of employment. Access to the Learning, Education and Development

    Read the latest digital issue of theHRDIRECTOR for FREE

    Read the latest digital issue of theHRDIRECTOR for FREE