Training and development – just as important for older workers

With the UK government making plans to try to attract the over 50’s back to the workplace, it’s essential that businesses are ready to give older workers more training and development opportunities.

The UK chancellor Jeremy Hunt recently stated there are currently 6.6 million “economically inactive” people in the UK, with one million of those aged between 50 and 64. Whilst getting some of these people back into the workforce may well help reduce the current number of vacancies, a large number of the over 50’s already in the workforce are suffering a form of ageism through a lack of training and development opportunities.

Ceridian’s 2023 Pulse of Talent survey shows that as a worker’s age increases, their chances for workplace learning and development opportunities decreases with 31% of respondents aged 45 – 54 and 54% of those aged 65+ saying they hadn’t received any such opportunities over the last year.

Although employers often assume it’s more important to invest financially in training younger staff, on average older workers stay in their jobs longer which provides an extended period for employers to see a return on the initial cost of training. Additionally, many older workers require training that builds on their existing skill set and this can considerably improve the productivity of experienced staff. There is also the loss of a vast amount of information, both technical and organsiational, that older workers possess so it's a huge missed opportunity if their knowledge and experience isn’t passed on.

There are significant returns for companies that invest in growth opportunities for older employees. These can include greater productivity, higher engagement, and less customer turnover through the stronger business relationships older workers often build. The key to achieving this is to have an inclusive approach that makes the most of training resources and having employees of all ages participating fully in the appraisal programme.

No matter what their age, all employees require learning and development opportunities throughout their working life. As the population’s median age increases so too will the average working life. Its therefore essential that older workers are supported and encouraged to stay in the workforce for their personal growth and for the organisation's success.
 

Redefinng midlife for women

Jacqueline or Jack Perez runs a digital platform dedicated to normalising ageing for women through highly curated content and women driven brands. Jack feels that ageism is the last ism left and it's the one we do mostly to ourselves.

Jack feels that it’s something that happens to a lot of women when we start to look in the mirror at a certain age and don't particularly like what is reflected back to us.  It could be a line, a wrinkle, a sag or an age spot but we start to feel ‘less than’ and to internalise bad self talk that we are not as valuable. In North America there is also a very user centric culture so it adds to the feeling of being devalued over time.

There is currently a big push in society around the science of longevity. This can be a challenge as we are often not very good at knowing how to live as we get older, primarily because we are very family centric. Kids grow up and leave home and you’re left with a relationship that's slightly festered over the years or on your own and wondering what do you do next. Both women and men in their 50’s are thinking that they could have 30 or 40 years of this, but 30 or 40 years of what?

In the UK we’ve seen what’s known as 3rd age phenomenon which is rethinking that.  There is a big zeitgeist of people who are excited by this stage in their lives, have been liberated from everything else, are old enough not to care sometimes but also to have the wherewithal to think ‘OK what could be next?’ They are looking for a source of information, a friendly face or place that relates to them where they and say ‘this is something that I could do or someone who I could be’.

At the moment we are in a unique position. The average lifespan of a white woman in the early 1900’s was 51. Although there were people who lived to their 80s or 90s this was not as a cohort or large sector of the population. Now is the first time that there is a very large number or a high concentration of people in this space. The Baby Boomers, the Gen X’s and now even the older Millenials are all entering this space and the exciting thing is that we get to define what that seed change looks like and the new paradigm. Women are hungry to look for the modeling of ‘what can my life look like in my 60s 70s and 80s?’ This is why Jack built the platform and brought together global thought leaders on the topics that are important to women in the extra years that they didn’t get 100 years ago.

The idea of having a community of liberated free thinkers seems to be quite exciting. Every day a new article gets pushed out about a relevant topic. It doesn’t shy away from the tough subjects but deals with them in an empowering, kind and productive manner. It’s not about shaming or scaring anyone rather its about providing valuable information that's actionable in the different areas. For example, if you’re looking in your closet as a 55 or 58 year old and asking ‘can I wear any of the stuff I used to wear when I was in my 30s or 40s?’ There are articles about fashion in mid life and beyond and article about skin care and makeup. The best place to start is the About page. Just scroll down so you can access articles from women around the world and find the topic that's relevant to you.

Jack found that when she was going through menopause herself she couldn't find any positive relevant information to help her so she started the platform because she didn't want other women to feel alone or scared. Loneliness and isolation are leading indicators of longevity – you will live longer if you have connections with other humans. Neither smoking, drinking nor being obese are not as dangerous to your health as being isolated and lonely.  They are also major causes of depression and also dementia. In a world where we are more connected we are increasingly isolated.

Jack earned her MBA from the University of Chicago and was then hired by Hewlett Packard in San Francisco where she worked for several years. She wasn't really corporate material though so in 1999 she left the corporate world and started a PR and marketing business with her then husband. It was the heyday of the late 90s with .com bubble and lots of venture capital money. It was a very buoyant environment but not at all sustainable in the longer term. Jack became a single mum late in life so started working in smaller companies in fractional executive roles that helped her spend more time with her child. She then went through the menopause and that's when she realised she needed to do something not for her but for everyone else!

There does seem to be a reappraisal of ones life at the time of menopause and there is science behind this. It's a time when women lose a lot of the hormones that make them maternal and want to take care of people. Post menopause many don't feel as maternal as they used to. Jack didn't realise just how tied she was to that feeling, need, drive or biological imperative. She had no idea how critical, crucial or all encompassing it was until it dissipated. Women can also become more vibrant at this time of life so if there is a mismatch in a relationship it can become more evident and, in the US, the highest number of divorces are issued by women aged 50 and above. There seems to be a lot of women who at 50 just say ‘I don't want to be married to you any more’ perhaps because the dream has changed or been fulfilled in a way.

The idea that we should be empowered to go out and start a new life is exciting. The problem and opportunity with a youth culture is that older people are often seen as wiser and are used as mentors. Younger people want to gain an edge and this often comes from people who have been there and done it before. Interestingly, the platform attracts younger people as well as the target market with half of the audience being under 45. Jack feels that this is because they are curious about what is coming so they are empowering themselves by learning.

You can find out more about Jack at www.kuellife.com or info@kuellife.com

    You can listen to the podcast in full and find out further information here. Our upcoming guest list is also available along with our previous blogs.
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Planning for the next phase of life

The latest episode in our Resilience Unravelled series has now been released, Resilience Unravelled – Planning for the next phase of life.

 In this episode, Dr. Russell Thackeray talks to Dr Sara Geber who is based near San Francisco, California. Sara has a background in organisational development and leadership development and a Ph.D. in Human Behaviour. She is also a nationally recognised authority and expert in the area of life planning and retirement transition. Around ten years ago, Sara realised a lot of her executive coaching clients were starting to think about their retirement plans rather than their strategic plans. She became increasingly interested in how the Baby Boomer generation were entering a period where retirement was increasingly on their minds. The one thing they didn’t seem to want to do though was do it the same way their parents did.

Over the last few years the idea of retirement has changed. Baby Boomers want to do things their way. They aren’t necessarily interested in the stereotypical retirement leisure activities, they want to stay active and productive. A lot of them don't want to retire in their 60s. There is a different trajectory of ageing now with more people expecting to live into their 80s and being healthy and happy. Sara thinks that we should start thinking about our health when we’re much younger – food choices, exercise and outdoor time all help us stay strong and healthy longer. The percentage of people staying healthy into their 70s and 80s is growing every year and exercise and is important to this, both physical and mental! It’s important though that we don’t beat ourselves because we can’t do everything and are more susceptible to physical problems.  We need to be realistic in our expectations, accept its not always going to be perfect and do what’s right for us rather than take on someone else’s expectations – it’s our individual choice!

There is no one glide path into retirement but Sara thinks we should all be thinking about what we’re going to do when we reach our 50s. The number one priority is retirement savings and it’s important to know how much money we’ll need for our retirement. Financial planners now often run a life span to 97 or 103 so the sooner we start to plan and get ready the better. We need to think about how long we want to work, whether we’re still enjoying what we’re doing or want to make a change. Many people on their 50s get restless so it's a good time to start looking ahead and asking ourselves ‘what is my life going to look like, and what am I going to feel like in 20 years time’. Many people make huge changes to their working and personal life in their 60’s. The two major restrictions are physical and monetary but nowadays many people are healthier and have more resources.

One of the things Sara is particularly interested in is retirement planning for solo agers. Almost 20% of the Baby Boomer generation don't have don't have children so really need a practical plan for when they are older. As well as the obvious legal and financial considerations they need to focus on their social network. Isolation and loneliness is a huge problem in society generally but particularly for older people.  

It’s important to take stock of who you see, when you see them, who you spend time with at holiday time and whether its family or friends. We need to start nurturing our social network early and also consider important issues such as where we want to live and what kind of environment we want to live in. We also need to communicate our wishes to the people closest to us – who knows when a crisis might hit and we’ll need someone to make decisions for us. If no one knows what we’re thinking about our own future, then no one will be able to speak on our behalf in the way we would speak for ourselves. Of course it’s something that's difficult to plan but we need to start thinking about it and have some contingency plans – ideally written down.

Sara believes we are all social creatures who thrive in a stable community so whether its friends or family, we need to build our social network throughout our life. Having a sense of purpose, involving ourselves in things we are passionate about and creating new and different experiences are also really important as we move towards the next phase of our lives.

You can get in touch with Sara at https://sarazeffgeber.com/ Her book, Essential Retirement Planning for Solo Agers, was released in April 2018, and has been an Amazon bestseller. It was named by the Wall Street Journal as one of the “2018 best books on aging well.”

You can listen to the podcast in full and find out further information about Sara here. Our previous podcast episodes and upcoming guest list are also available