Employers who ignore Britain’s growing older population could suffer skills shortages and lose an important competitive edge, according to “Employing older workers”, published by the Department for Work and Pensions, which warns that Britain is running out of workers. There are 13.5 million job vacancies which need to be filled over the next ten years, but only 7 million young people are projected to leave school and college over that time. With people living and keeping fit for longer, the proportion of over-50s in the workforce is set to rise to a third of the workforce by 2020 (from 27%). 50% of workers aged over 55 are proposing to work beyond the state pension age now the default retirement age has been abolished. The new guide advises employers on how to hire and retain older workers in order to build a multi-generational workforce.
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