Retirement years have always been painted as a carefree time of sports cars, world travel, picnics and parks, and quality time with grandchildren running along sunny beaches, accompanied by a Golden Retriever or two. Furthermore, the ability to retire early has long been regarded as a true measure of a successful work life.
In reality though, the experience of retirement, and the reasons for retirement in the first place, may not be quite as a rosy for everyone.
The last few years have seen global upheaval that has affected everyone’s needs, perspectives, lifestyles, and in turn, the job market. While some retirees are now choosing to return to work for an increased sense of purpose and contribution, or indeed mental and social stimulation, research conducted by Rest Less found that more than 1 in 10 retirees would consider returning to work due to the increased cost of living.
Why Retire, Only To Come Back?
Age discrimination is illegal under the Equality Act 2010, and retirement doesn’t actually exist in the employment context since the removal of the Default Retirement Age, but attitudes towards older workers have not necessarily followed suit, with some Employers ‘pushing’ their older Employees into ‘retirement’ before they are truly ready, to make way for the employment of younger workers which is both illegal and immoral these days.
Despite what the law says, some Employers view older workers as less employable, which stunts their ability to progress, or find roles elsewhere. Similarly, while some Employers may see the value in employing older workers, they may find themselves at odds with colleagues who don’t feel the same, with the latter winning out when it boils down to the bottom line – young and less experienced are usually cheaper to pay.
So, while some have certainly pursued the dream of early retirement, and enjoyed the fruits of their labours, there is a proportion who took early retirement through lack of opportunity, or actually being squeezed out by their employers before their time.
A Disconnect and the Damage Done
Whether it’s down to financial reasons, or wrapped up in outdated views, there is a disconnect between what older workers want and need, and what Employers deem appropriate for their organisations.
Life expectancies are increasing, and therefore, so is the length of time that workers can potentially work, or, conversely, the length of time they spend in retirement. As a result, many workers want to work for longer than some Employers consider them employable (using ‘capability’ as the exit route), with an outcome of being pushed into much longer retirement periods, where they may find that they struggle personally or financially. Once forced out, older workers struggle to find alternative comparable work elsewhere.
By disregarding workers on the grounds of being older, despite there being shortages of workers in many sectors, Employers (and the UK economy) are potentially missing out on the many benefits offered by those with knowledge and experience gained over the years already spent in the workforce.
What Perspective Should Employers Adopt?
While longevity and experience were once highly valued in the workplace, societal changes and a shift towards acting more in accordance with the bottom line, has influenced some Employers to pursue younger workers, capitalising on their eagerness to prove themselves and the fact they are likely cheaper to employ, while squeezing out the older, experienced and possibly more costly workers who may be less amenable to change (especially if it is a questionable one!).
While it may be a difficult change for some, there needs to be a strong focus on inclusivity, with more importance being placed on the needs of the role, and less on the ages of the candidates.
Making Do To Make Ends Meet?
Be careful not to tip the scales too far, though. While it is vital to embrace older workers and retirees looking to return to the workforce, it is still very important to conduct all recruitment and selection practices objectively. As admirable as it is to provide a retiree access back into the workforce, they should ideally return to roles that fully utilise their skills and experience.
Employing someone who is overqualified for the role (and likely only applying for the sake of being able to pay the bills), may not do the Employer or Employee any favours.
So How Can Employers Welcome and Benefit From Older Workers?
Create Opportunities – Create roles geared around passing wisdom, knowledge, skills, and the benefits of experience, between older workers and their younger counterparts. Suggestions include mentoring roles, trainers, coaches, and workshop and event facilitators.
Attract and Retain – Health and wellbeing are more of a focus for older workers, be it through health issues or a more rounded experience of life. Therefore, opportunities to work flexibly are highly favoured by them, as well as retirees returning to work who may wish to maintain some of the time freedom they enjoyed since retiring. Therefore, organisations offering flexible work options may find that they are of greater appeal to older workers and returning retirees, which will in turn benefit Employers looking for knowledge and experience to help train and bolster their teams.
Conclusion
There are many reasons why older workers choose to leave retirement and return to the workplace, with the cost of living crisis being a big driver, as of the time of writing. Regardless of their motivations, the benefits of knowledge and experience that older workers and retirees have should not be underestimated or overlooked.
Attracting and successfully retaining them will very much depend on the Employer’s willingness to implement reasonable adjustments, all with a view to recognising and embracing the contributions that this very valuable group can bring, or rather, bring back, to the workforce.