Our future holds a workforce of diverse ages

In the current climate people are planning to work longer. Very few employees (4%) are expecting to retire before the age of 55. As the retirement age increases it will soon be common place that four generations of employees will work side by side. New research shows that for the first time this change will be welcomed and not feared.

In a CIPD’s study of nearly 3000 employees, 900 people thought that a multi-generational workplace would create positive tension leading to innovation rather than culture clashes.

This is a highly encouraging statistic showing that people of all ages are being seen as valuable in the work place, and it’s being recognised that a range different skill sets can be beneficial to a business’s dynamic. This is an attitude change from former years and is a great outlook for the general population to have.

This change is definitely on the horizon and businesses must prepare for a diverse workforce collaborating in harmony. Companies should start planning for the changes now so as not to be at a competitive disadvantage.

Research shows that businesses are not yet doing enough to recruit from an increasingly age diverse talent pool. Even amongst those companies that are, many simply aren’t equipped to manage their age diverse teams. Statistics show that 42% offer flexible working options and 30% offer a flexible retirement policy. However, three out of ten employers report that they don’t offer any support for the extension of working life.

It’s certainly something that’s worth looking into. Companies who have employees of varying ages report important business benefits such as knowledge sharing and enhanced customer service, while their employees enjoy new perspectives and fresh ideas inspired by working with people of diverse ages.

For more information and survey results please visit the CIPD Survey.