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EY backs campaign for age-diverse workforces

Sep 08
Tags: Ernst & Young LLP
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EY backs campaign for age-diverse workforces

EY is among the high-profile firms that are giving their support to a new campaign urging employers to create age-diverse workforces and harness the benefits that older employees can offer.

The initiative is being driven by Business in the Community's Age at Work leadership team, which counts EY among its members alongside the likes of Barclays, Aviva, the Co-operative Group and the Department for Work and Pensions (DWP).

A report published to mark the start of the campaign noted that the number of people over the age of 50 in the British workforce increased by 2.5 million between 2005 and 2015.

Departures from the labour force and the creation of new positions is expected to result in 14.5 million job vacancies by 2022, with only seven million young people available to fill them.

Senior workers could prove crucial when it comes to plugging this gap, with one million older people who are currently not employed saying they want to work.

If half of this group were to move into paid jobs, the UK economy would gain up to £88 billion a year, according to figures from DWP.

Business in the Community pointed out that many companies have already recognised the benefits older workers can offer, such as improved engagement and understanding of customers.

Shaun Crawford, global insurance leader at EY, said: "At EY, our mission is to create a better working world, and making the most of our people at all ages is a part of that.

"There has been plenty of public debate about what our ageing population means. Business in the Community's Age in the Workplace report sets out what companies now need to do to retain, retrain and recruit older workers."

One of the recommendations in the report is providing adequate training to line managers to ensure they are able to engage with employees at different stages of their careers.

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Image: Szepy via iStock

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