In light of the figures published by Towers Watson, which show businesses struggling to accommodate older workers, there is still a huge concern employers are failing to take advantage of older workers' skills and experience.
In line with these findings, much has been spoken in recent times about the UK's ageing population and the impact that it will have on employees, employers and the economy.
The KPMG report suggests only 20% of respondents believe employees will want to retain older colleagues, in order to learn from their experience. As such, employers need to consider the changing nature of the workforce.
In a report released by Talentsmoothie, it was revealed during the next decade the employment industry will see 13.5 million job vacancies in the UK, with only 7 million school and college leavers who will leave an enormous gap that will need to be plugged. This reaffirms the notion that there is an imperative need for younger employees to learn from their peers.
This prediction suggests that the future skills shortages should and will be filled with older workers, as this will provide a proven business benefit by fostering an environment of learning and knowledge sharing.
It has often been said that the older generation of employees are the main untapped source of hidden labour talent. Organisations must equip themselves to recruit and retain them, for the growth of their business.
Technology requirements for Gen Y
The consumerisation of IT has led to Gen Y employees having an expectation for business apps to be as intuitive as mainstream platforms such as Facebook and Google. These expectations show how much technology has grown, and how the younger generation almost sees the interface of business apps to be imperative to their working life.
These requirements for Gen Y employees may also be seen as a factor in causing generational tensions, with older colleagues not willing to embrace new technology trends within their organisations.
Gen Y employees will one day become the decision-makers in UK businesses. They have grown up with the thought that IT just works and doesn't necessarily involve lots of equipment, support or maintenance. The next generation of employees (Gen Z) will be even more advanced and there will perhaps be a time when Gen Y will face the same challenges their peers are experiencing today. It will be interesting to see of generational tensions will continue to exist in the years ahead.
How technology can play a part in this process
Technology will play its part in facilitating the changes required in helping businesses align with the changing nature of the workforce.
The ability to deploy the best possible resource, in the right place at the right time can have a significant impact on business performance. From improved quality in production, faster time to market and better customer service, the impact of effective workforce management can drive revenue and customer satisfaction.
However, as part of this it's also the role of the employer to put aside any prejudice that still surrounds this group and recognise the ageing workforce as an opportunity for change rather than a problem.
Neil Pickering is marketing manager at Kronos