The “Flexible After Fifty” report advocates for enhanced flexible work support for individuals over 50, highlighting its benefits across businesses, older employees, and the UK’s economic landscape.
- Nearly three-quarters of people over the age of 50 are in pursuit of flexible work arrangements aimed at achieving better work-life balance.
- Increasing numbers of over-50s are engaging in part-time work, with a notable rise in home-working and flexi-time options.
- The report underscores the need for the government and employers to champion flexible working patterns to ensure over-50s remain active in the workforce longer.
- There are actionable recommendations for both governmental policies and internal business strategies to effectively implement and support flexible working for the older demographic.
The “Flexible After Fifty” report reveals that 72% of individuals over 50 seek flexible work arrangements to better balance work and personal life. Caregiving responsibilities and the desire for more personal time are significant motivations for this demographic.
Part-time work is on the rise among those over 50, with 33.2% engaged in such working arrangements. Home-working has also seen an increase, jumping from 10% in 2020 to 22.4% by 2023. Flexi-time usage stands at 12.9%, reflecting a growing trend towards more adaptable working schedules among the older workforce.
Adopting flexible work patterns is essential for supporting individuals over 50 to remain in the workforce, especially given the benefits this brings. This approach not only aids personal goals but also supports the broader economy by retaining experienced staff.
Ahead of the Flexible Working Act set to be enforced in April 2024, the report recommends that the government should take the lead by actively encouraging and assessing flexible work uptake across varied age groups. It stresses the importance of equipping small and medium enterprises with adequate resources to implement these initiatives effectively.
The report further suggests that businesses should prominently feature the option of flexible work in all job advertisements and incorporate it into discussions early during recruitment processes. Additionally, businesses are urged to sign onto initiatives like the Age Friendly Employer Pledge to further promote an inclusive employment environment for older workers.
Andy Briggs, UK Government Business Champion for Older Workers, emphasizes the critical timing of this report, stating, “We must capitalize on this generation’s skills and knowledge to help individuals, businesses, and the economy to flourish.” He notes that many over-50s face pension savings shortfalls, making robust, flexible working opportunities crucial for financial stability and avoiding a retirement crisis.
Peter Cheese, CIPD Chief Executive, remarks that flexibility not only benefits employees by retaining their skills and experience but also addresses employers’ challenges with skills gaps. By embracing age-inclusive recruitment and development practices, businesses can craft longer, more fulfilling working lives for their employees.
Flexible working arrangements for the over-50 workforce are essential, benefiting workers and the broader economy.
