Mismatch between what older workers want and how they’re managed at work
When it comes to managing older workers HR is “off target", research has revealed, as the majority of HR focuses on retirement planning rather than helping over-50s to use their skills and expertise for the benefit of the business.
Organisations are still failing to realise the potential of older workers, also called baby boomers, despite campaigns and research showing the benefits of employing multi-generational workforces, according to research from Ashridge Executive Education.
The survey of more than 2,000 workers over-50 years old, and HR staff working in organisations that employ older workers, found a significant mismatch between what baby boomers want from work and the way they are portrayed, managed, and valued within the organisation.
Older workers are ambitious, want challenging and fulfilling jobs and are hungry for continued growth and development, survey results showed.
However, just 1 per cent of HR staff felt older workers needed career development.
The focus for many HR professionals, and managers, was on developing younger generations, while training for older workers included retirement and financial planning.
Dr Carina Paine-Schofield, research fellow at Ashridge and co-author of the report, said there was a common misconception that older workers were hanging onto senior roles and blocking the next generation of talent coming through. However, research has proven the business benefits of sharing knowledge and experience between people of different ages, she said.
“Baby boomers are often in senior positions and are role models for others in the business. If they are not stimulated and engaged at work, the knock-on effect on the motivation levels of others could be enormous,” she added.
“Organisations also need to think about how the way they perceive and manage older workers impacts on recruitment and their brand image as an employer.”
In a separate report from British Gas, almost three quarters (72 per cent) of workers over 50 years old believe they are still capable of learning new skills and are keen to do so to contribute more at work.
However, 11 per cent of them said their employer assumed they had “peaked” professionally, while 12 per cent said a reluctance to invest in training for more experienced workers was holding them back in their organisation.
Matthew Bateman, managing director of British Gas Residential Services, said it was clear that older workers are still hungry for new challenges, yet a third of the 1,000 workers surveyed felt their employer did not provide them with enough training.
Just one in 10 older workers reported they got as much training as their younger colleagues.
Ashridge’s ‘Don’t Put Baby (boomers) in the Corner’ report suggests that generation Y and baby boomers were very similar in terms of what they want to get out of work.
It suggests that an individual and informal approach to career discussions, coaching and mentoring and exploring options for older workers to get involved in advisory roles or special projects, would help over 50s to maximise their contribution and continue to thrive at work.