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.