With the ‘Great Resignation’ raging on, employers are going to have to get more creative in looking for talent
One solution is looking at retired workers - although new ONS data shows they're leaving the workforce faster than ever
So, what do you, as an employer, need to do to attract older people, with their wisdom and experience, out of retirement and back into your employment?
The UK is experiencing an early retirement boom, with a whopping three in five people aged over 50 choosing to leave the workforce during the pandemic.
The data from the Office of National Statistics (ONS) has found that the decades-long trend for employees to continue working well into their 50s and often far beyond has been reversed. Among the reasons cited by early retirees for quitting their jobs were coronavirus (15%), illness or disability (13%), stress or mental health reasons (10%) and simply not wanting to work anymore (11%). Additionally, 47% said they were leaving to retire from paid work.
Commenting on the data, Hugh Stickland from the ONS said that although retirement was a “key driver” in this migration from the employment market, “issues around health, caring, change in lifestyle are all important factors too, often overlapping and inter-related."
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