The over-50s & 60s employment boom

How employees in their over-50s are changing our current and future employment landscape…

Did you know that…

  • Professionals in their 50s and 60s are largely driving the nation’s record employment?
  • 76% of ‘eligible’ job candidates are currently working.
  • More than 80% of new UK roles were filled by employees aged over 50 ‘in the past year up to April’.
  • The number of professionals aged over 65 also increased by 80,000 people within this period.
  • Furthermore, the over-50s group may become the largest working demographic by 2030. 1/3 of employees will already be a part of this group by 2025.
  • More than 8% of people in their 70s are still working, which is significantly more than a decade ago.

Are there enough opportunities for the over-50s employee?

Although the above all sounds highly positive, the demographic is still experiencing challenges.

  • 41% of people aged over 50 say there is a ‘lack of opportunity’ to progress with their current employer.
  • 34% do not know what is required of them to receive a promotion.
  • And 1/5 of this group attributes a ‘lack of training’ to their limited career growth.

These are concerning findings. Especially as both reports suggest older employees could help overcome the national skills shortage.

There are a number of industries that express increased confidence and greater opportunities for respondents.

Also in the news…

Looking for a role that better suits your skills and experience? Visit our jobs page. For further recruitment support, please call the office on 01225 313130. 



Beyond 65: why will most people work at this age?

Do you expect to work beyond 65? Why this will be the case for most UK employees…

We now hear that 71% of people are on track to work after the age of 65. Furthermore, 2/5 of employees expect to still be working after they’ve turned 75.

This is according to research conducted by Canada Life Group, which also demonstrates a ‘long-term upwards trend’. In other words, the longer the research goes on, the more people predict they’ll be working in later life.

Why do so many employees think they’ll work beyond 65?

Some, but not all, of the top reasons comprise a clear financial component:

  1. An insufficient pension, requiring the employee to continue to earn an income (32%).
  2. Job enjoyment and an interest in ‘working for as long as possible’ (30%).
  3. No longer feeling able to ‘rely on a state pension/benefits’ (25%);
  4. Having saved for retirement but finding the ‘cost of living so high’ that additional income is required (21%);
  5. For other workplace benefits, such as social interaction (21%).

Considering the external financial factors:

Considering why finances bear such an impact…

  • 71% of respondents attribute this to the ‘rising cost of everyday necessities’
  • 63% say ‘rising inflation’ has chipped away at their savings
  • 62% blame a ‘poor return’ on savings
  • 58% put it down to ‘slow wage growth’
  • While 51% consider Brexit-related ‘economic uncertainty’ to be the cause.

The article includes recommendations for employers. Yet how can individuals benefit from this research?

Looking at reasons 2 and 5…

Let’s focus on the non-financial findings for now. It’s wonderful to hear that almost 1/3 of employees enjoy their job so much that they don’t want to retire. We recently shared the news that older employees report greater workplace wellbeing, so it wouldn’t be surprising if these feelings also increase with age.

What’s more, the social interaction element is also at the core of these findings. Workplace wellness is most affected by relationships with colleagues at every age.

So, perhaps the trick is learning how to get more out of your career over the longer-term. We say ‘career’ as we all know it’s rare to find one role that will take you straight through to retirement.

  1. Everything is pointing to the need to keep improving our transferrable job skills as the world of work rapidly transforms around us. Employers are already experiencing a skills shortage (struggling to find appropriately skilled employees for their existing vacancies), so the more you can do to refresh and update your abilities, the more valuable an employee you’ll be. Both now and in the future.
  2. Find ways to improve your workplace happiness – whether in your current or next role. Returning to the research on workplace wellness, it’s important that you understand your priorities. What makes you feel happiest and healthiest at work might differ from your colleagues and might change over time. It’s not always possible to tick every box, but taking steps towards this could increase your overall career enjoyment.
  3. Tap into local and industry experts. Going it alone in a job search can prove overwhelming; particularly if you know little about the employers recruiting in your field or area. A professional Recruitment Consultant is well-placed to advise on the roles that they’re recruiting for. Building a great long-term relationship with an agency also means that you can return for tailored advice at the next stage of your career.

Ready to find your next role? Take a look at our latest openings and/or upload your CV today



Money worries at work

Are money worries affecting your work? You might not associate financial concerns with recruitment discussions, however, this very topic has become an increasing news theme over recent months…

Most employees experience money worries.

But what does this all have to do with recruitment?

Working towards solutions…

  • This issue presents both a challenge and an opportunity. The more that these discussions take place, the more likely employers are to find ways of supporting their team. While the most innovative companies can make this another staff attraction and retention differentiator.
  • Professionals will also feel less alone in their money worries. Anyone who has concerns that they are unable to discuss with their employer would be wise to contact the Money Advice Service. This is a free, impartial service.
  • On a separate note, if you’ve never really got to grips with your payslip and tax code, this post should help.
  • If you’re wondering whether you could earn more for your career experience and skill-set, speak with your Recruitment Consultant. Regularly researching jobs in your industry can also improve your knowledge of the going market rates.