What will attract the over 50s back to the workforce?

Employers continue to struggle to not only retain skilled employees, but to attract experienced talent. A valuable pool of workers is the over 50s, but there has been an acceleration of ‘early’ retirements in recent years, perhaps due to them become increasingly disorientated with the workplace.

The UK Government estimates there are around 500,000 ‘inactive’ working age adults. Even if half could be encouraged back (perhaps due to the current cost of living crisis) or Government incentives, that could have a significant impact. But what can employers proactively do to get the older, skilled worker back?

Employee benefits could be one way to help an employer differentiate themselves for retention and recruitment in their sector, by providing benefits focused for the needs of that demographic. Identifying those needs and delivering comprehensive solutions could make the difference between them picking one employer over another or even remaining ‘inactive’. Health & wellbeing benefits would be expected to high on their priority list. Some ideas would include:

· Private Medical Insurance/ Health Cash Plan

· Health/ Cancer Screenings

· Protection

· Financial Education/ Guidance

· Electric Car leasing

· Eldercare support

With the skills deficit that many employers face, can they afford to ignore the ‘inactive’ over 50s and the workplace experience they can bring?