The global workforce is growing older. According to the World Health Organization, the proportion of the world's population aged 60 and older will nearly double from 12% to 22% between 2015 and 2050.
Business leaders will look to HR for answers on how to plan and prepare for these changes. How we adapt today is likely to be a key ingredient in the resilience, inclusivity, and competitiveness of organisations tomorrow.
Read more: Age cannot be a barrier to better work
What lies ahead is a world in which a greater number of generations work side by side within the same organisations; conceivably people well into their 80s alongside new starters barely out of school, training or university.
It goes beyond that. In the coming years, as the pool of younger workers shrinks, employers worldwide will increasingly rely on older workers to sustain productivity and drive growth. Figures from the Office for National Statistics (ONS) found in the UK over the past decade, employment rates for people aged between 50 and 70 have shown upward trends, while the pension age will rise to 67 by March 2028, with further increases likely.
These changes pose questions for employers. How do firms adapt to attract and retain top talent as the age of workers changes? What can they put in place now to ensure individuals can thrive and remain productive? How can they develop and sustain necessary skills and engender innovation given the pace of change of technology?
Flexible working
Research from national standards body, the British Standards Institution, found that for UK business leaders, flexibility and financial incentives were the most important factors identified to enable success. This means employers should consolidate changes to working structures since the pandemic and design work that fits seamlessly into employees’ lives. This is something that may be especially critical for older workers with caring responsibilities or health considerations.
Learning and development
The research also found that training, retraining and refreshing skills and offering professional development will be critical to enable fulfilling careers over longer working lives. Continuous skills development is essential, particularly in light of the digital transformation. Technologies like AI are becoming increasingly widespread, and retention programmes and 'returnships' designed to help workers adapt to new roles or re-enter the workforce will be vital for organisations looking to invest in reskilling initiatives.
Read more: Changing demographics will shape work/life integration
Health and wellbeing
Another critical area is health and well-being. CIPD data shows more than half of UK workers aged 60 or older live with a long-term health condition. Business leaders were clear that supporting both physical and mental health will be crucial to enabling people to remain productive into their later decades, with 47% in the UK marking health and wellbeing support as a priority for UK businesses to succeed.
Businesses and governments can play an essential role in addressing specific health needs, such as providing support for menopause-related symptoms, which a fifth of surveyed business leaders identified as a priority. This aligns with BSI’s findings that menopause-related challenges can hinder women from staying in the workforce later in life.
It will be vital to listen to employees and give all voices, no matter experience or career stage, a chance to contribute and shape the future of work.
Read more: Age-based assumptions are leading employers astray
For HR professionals, there is a path forwards: embrace this reality, champion policies that support older employees alongside younger colleagues, and lead the way in creating workplaces where people of all generations can thrive. By doing so, organisations can ensure they are not just prepared for the future – they are empowered to shape it.
Kate Field is global head of human and social sustainability at the British Standards Institution
