Halt the silver talent drain with midlife reviews says Punter Southall Aspire CEO
New research reveals that adults aged 55 and over are at highest risk of being left behind when it comes to workplace training – making their skillsets less relevant and these individuals less employable.
The research, from City & Guilds Group[i] found that people aged 55+ are the least likely to have undertaken formal workplace training in the last five years, with only half (53%) having done so. This compares to 67% of 35–54-year-olds and 83% of 18–34-year-olds.
Steve Butler, Chief Executive at Punter Southall Aspireemployers must stop neglecting the over 55s and invest in their training and coaching as they still have a significant contribution to make.
Steve says, “One in three employees will be over 50 by 2025[ii]. They make up an important part of the workforce and have vital skills and experience employers want to retain. Companies should be focusing on employees at all stages of their working lives, and not forget that older workers benefit from training and development to keep their skills up to date so they can continue working for as long as they wish.
“Conducting midlife career reviews with employees in their 40s and 50s to discuss career plans, health and wellbeing and their financial goals is simply good practice. It helps employees plan the second phase of their career, and employers to understand how they can best be supported. This includes discussing what training they might need, as well as the working patterns and employee benefits that are needed.”
“An effective midlife review can prolong a career and mean the last ten or twenty years of a person’s working life is their most productive and rewarding.”
Midlife Review: A guide to work, wealth and wellbeing, co-authored with writer Tony Watts OBE, published last year to give business leaders, managers and employees guidance on supporting ‘midlife’ workers.
For more information visit: www.psaspire.com