A Multigenerational Workforce: Mapping the Way Forward

When we create opportunities for inclusion, we all benefit.

Work provides us with a sense of identity and purpose. How many times have you heard someone

introduce themselves by saying something along the lines of… “Hi, I’m Sam, I’m a teacher.” Work

provides us with the economic independence we need to do the things we want and contribute to

society. When an older worker loses their job, they are twice as likely as a younger worker to fall into long-term unemployment. Meaning it is vital that we provide them with the supports they need to stay in work.

The benefits of employing older workers are clear. Research from the Centre for Ageing Better shows that, in 2021, 79% of employers in England believed that older workers could help in knowledge and skill sharing [1]. Work done by the OECD indicates that firms whose share of the workforce aged over 50 is higher than average are more productive [2].

Society benefits when we are more age inclusive. People over 50 are net contributors to the UK economy, contributing £602 billion to UK plc every year. £561 billion of this is through paid employment [3]. We also see that raising employment levels for workers over age 50 will have an estimated net economic impact on GDP of £417 billion in the UK by 2050 [4].

In recent decades, great progress has been made to raise awareness and create equal opportunities in the workplace for women and people from different minority backgrounds. Despite the great benefits age inclusivity offers, ageism remains a pervasive issue in society and the workplace, denying opportunities to older workers, the companies they work for, and society at large.

As part of our research and stakeholder engagement, we want to raise awareness about the challenges faced by organisations in creating a more age inclusive workplace and map a way forward where we all benefit and are included.

Download the full report to learn more about their survey and findings.

For more information about Brave Starts, visit their website.

To learn more about ProAge, visit their website.

References:

[1] Research by YouGov for the Centre for Ageing Better conducted in 2021

[2] OECD Promoting an Age-Inclusive Workforce: Living, Learning and Earning Longer

[3] Saga Generation Experience the UK’s Economic Superpower

[4] World Economic Forum, OECD, AARP Growing with Age