Stuart Price, Partner and actuary, comments on why businesses should invest in older workers…
Stuart says: Firstly, older workers are generally more flexible in the hours they can work as they have less family responsibilities. They’ll likely be the ones available for working unsociable and irregular hours which shouldn’t be disregarded.
Older workers also retain valuable experience both within the organisations and the industry as a whole and can use this to help with succession planning; passing on their knowledge to younger, less experienced workers.
As employees get older and start thinking about retiring, employers can assist this by offering a flexible retirement and allow them to reduce their working hours but supplement their income by taking some of their retirement benefits from the Company’s pension arrangement.
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