The research shows that 92% of UK business leaders openly admit they don't invest in training and development for employees over the age of 60.
The survey of over 500 UK CEOs of businesses with more than 250 employees, across 13 different sectors found many employees are now choosing to work past the traditional retirement age of 65 to make up for the shortfall in pension pay-outs.
It showed that UK businesses are overlooking valuable skills and opting not to invest in this growing generation of older workers.
While nearly half (43%) of the CEOs surveyed claim to invest in training of staff of all ages, the reality is that this isn't happening, with only 8% of bosses admitting to investment in training for staff over 60. The survey shows big business is generally to blame, with three quarters of small employers most likely to invest in training for all and less than half of larger employers prepared to spend on employee development.
Kevin Young, general manager, Skillsoft, said: "Two billion people will be over 60 by 2050, many of whom will remain in employment for longer, so organisations need to re-think their training plans to accommodate this growing ageing workforce.
"The older generation can add so much value to an organisation with their experience, and failing to complement this with the latest key training, could potentially damage the future development of any business."
Young added: "With nearly 85% of British bosses not considering training the over 60s as a priority, the problem appears more deep rooted than just a short-term cost-cutting exercise.
"Changes to the retirement age and uncertainty over pensions means that many over 60s want to work longer and remain an integral part of a company for years to come."
In November HR magazine hosted a live web TV debate on the skills gap in the UK. If you missed it you can now still register for free and watch it back on-demand.
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