Sharon Bagshaw
Chief Client Officer, UK&I, EMEA & APAC, AMS
Talent strategies must adapt to changing demographics. Talent acquisition specialists partner with global organisations, focusing on the commercial benefits of an ageing population to help build a more resilient workforce.
Today’s workforce is undergoing a profound demographic shift. People are expected to live longer, healthier lives. Yet, many people over the age of 50 are retiring too early, creating a critical skills gap.
Why age-inclusive hiring is essential
In light of the impending shortfall of 50 million skilled workers across Westernised countries, businesses must adapt their talent acquisition strategies in order to build an intergenerational and resilient workforce.
Lyndsey Simpson, Founder and CEO of 55/Redefined, the only global organisation focusing on the commercial benefits of an ageing population, explains: “Nearly every nation is seeing declining birth rates that will result in a rapidly ageing workforce. Flexible, age-inclusive hiring strategies are no longer a ‘nice-to-have’ — they are a business necessity. If organisations don’t adapt, they risk losing a highly capable, motivated and loyal workforce.”
If organisations don’t adapt, they
risk losing a highly capable,
motivated and loyal workforce.
The value of older adults in the workplace
Experience, emotional intelligence, a wealth of life knowledge and a honed skill set are just a few of the many benefits brought by hiring over-50s, 89% of whom are willing to retrain at a lower salary if it means contributing meaningfully to the workforce.1
According to Sharon Bagshaw, Chief Client Officer at AMS: “Age inclusion is not just a diversity initiative. It is a macro business imperative driven by demographic megatrends.” An intergenerational workforce that values the experience, stability and mentorship of over-50s unlocks stronger collaboration, greater productivity and sustained business growth. Bagshaw adds: “Bringing together five generations can increase financial performance by 288%.1 It can boost productivity and actually make people happier at work.”
Age-inclusive talent strategies
In today’s tough talent acquisition market, organisations are beginning to take note of the value of older adults, implementing hiring strategies in partnership with AMS and 55/Redefined to strengthen their workforce.
55/Redefined helps companies attract, grow and engage their over 50s talent and provides aggregated, anonymised workforce data to help organisations assess the age profile of their teams and shape inclusive strategies. AMS brings this insight to life by embedding age-inclusive practices into end-to-end talent acquisition processes.
“We’re seeing growing engagement from clients who now understand that in today’s tough talent acquisition market, inclusive strategies are a brand and business imperative. We assume the identity of the businesses we support, representing their brand and values to attract talent that reflects the full diversity of the working population, including the over-50s,” concludes Bagshaw.
To build the resilience of your workforce: www.weareams.com https://work-redefined.co/
[1] 55/Redefined & ProAge. 2021. Shut out, forced out, overlooked.
