Lifestyle Article - Over 55s slam ageist employers for not hiring older workers


More than half of retirees aged 55+ say employers are less open to employing older workers. Nearly three-quarters of retirees who would like to be working again agree employers take an ageist approach to recruitment

 Research carried out by retirement specialist Just Group uncovers that the majority of retirees – especially those who would still like to be working – believe employers harbour an ageist approach to hiring older workers.

 The survey of over 1,000 retired and semi-retired people aged over 551 found that more than half (55%) believe that employers are less open to hiring older workers, with only 17% disagreeing.

 Among retirees aged 55+ who would still like to be working – and therefore more likely to be directly experiencing negative attitudes from employers – nearly three-quarters (72%) think that businesses have an ageist attitude to recruitment.

 When asked why this might be case, nearly a third (31%) of 55+ retirees stated that they thought employers see older workers as less productive and energetic. Over a quarter (27%) stated that it was because younger workers were cheaper and a fifth (19%) said that discriminating on age was seen as less problematic for companies than other forms of workplace discrimination.

 The research also uncovered that over 55s believe part of the problem is that employers think it is too difficult to introduce working practices that suit older workers (9%) or that older workers are more demanding (7%) and likely to disrupt workforce culture (3%).

 

 Stephen Lowe, group communications director at retirement specialist Just Group, said: “The government is keen to encourage some of the 2.7 million economically inactive people aged 55-642 back into the workforce but our research suggests this could be tricky when many retirees believe they aren’t getting a fair crack of the whip with employment opportunities.

 “Those who are still interested in, or would like to be, working felt particularly aggrieved and perceive hiring practises of many employers as fundamentally ageist and tilted towards younger workers.

 “Fair access to the labour market in later life is important because it allows over 55s the opportunity to get back on track should they face an unexpected life event that forces them out of the labour market. Without this equal opportunity they face the triple whammy of loss of income, loss of opportunity to save more into their pension and possibly being forced to raid their pension earlier than expected to make ends meet.”

 The survey from Just Group also found that nearly half (45%) of retired and semi-retired over-55s retired earlier than they had expected. Of those people, the majority (58%) said they were driven out of the workforce due to factors beyond their control rather than choosing to retire for more positive reasons.

 A third (33%) of those forced out of work early, said that they retired earlier than expected because of ill-health or physical impairment. A further 15% were either made redundant or could not find a job while one in 10 (10%) said they retired earlier than expected to provide care for a family member. It means one in four (26%) of all retirees over the age of 55 had been forced out of the workforce.

 “The assumption that people can work for as long as they choose is a dangerous one. Our research found that a significant proportion of people are forced to leave the labour market earlier than expected, many due to circumstances beyond their control.

 “If they feel like they are unlikely to be employed again then it means they must bridge the financial gap between leaving work and receiving the State Pension. Many will be forced to do this by stretching their private pension and other savings over a much longer period than expected.”
  

Back to Index


Similar News to this Story

Public sector expert Alison Murray joins BW
Barnett Waddingham (BW) today announces the appointment of Alison Murray as Principal and Senior Consultant within the Public Sector team.
Antares announces Commercial Division leadership team
Antares Global Management Limited is pleased to be able to announce new appointments to create the leadership structure for its new Commercial Divisio
Hymans Robertson appoint Head of Lloyds and London Market
Hymans Robertson has appointed Muhammad Ali as Head of Lloyd’s and London Market in its General Insurance (GI) team. His appointment to the role build

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

Email
Password
 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS

WikiActuary

Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.