5. Look after workers health
Encouraging an open culture where people feel comfortable discussing health concerns, as well as employers having appropriate support in place to help people manage health conditions, can make a big difference to someone staying or going.
The Centre for Ageing Better found that a quarter of workers with a health condition who are aged 55 and over were considering stopping work because of their poor health, compared to just 8 per cent of those with a health condition aged 25-34.
6. Introduce mid-life reviews
Asking over 50s what they want out of their careers is important and introducing mid-life reviews can be a great way to stimulate conversations about next steps, career development and flexible career solutions. Companies such as Aviva are strong supporters of the mid-life review and introduced mid-life MOTs in 2018 for employees aged 45 and over.
This is an important time for many as this is an age where they may face age discrimination. Employers need to be proactive and explore what kind of training or up-skilling people might need, as well as any changes to working patterns needed and the benefits package that might suit older workers.
It is an opportunity to discuss retirement aspirations too, and ensure employees are on the pathway to achieving them.
These reviews can really help companies make the most of their existing workforce, reduce the risk of losing valuable talent and ensure people can enjoy fulfilling careers and continue contributing as much as possible for as long as possible.
Steve Butler is chief executive at Punter Southall Aspire
