In response to figures released today by the new Employment Minister, Damian Hinds, showing that more people aged 50 to 74 are in work than ever before, Lady Barbara Judge, the Chairman of the Institute of Directors, said:
“We join the new employment minister in praising the progress made by employers in helping older people to stay in work for longer. The UK now has one of the highest rates of employment for people in their late-60s among all developed nations.
“Unfortunately, as industries evolve and the skills needed by companies change, many older workers have difficulty finding suitable employment. Businesses are committed to training and developing their staff, but we need to find new and easier ways to ensure the skills of older workers remain relevant and up to date. The IoD has proposed a number of policies, including simple tax incentives, to encourage older people to return to education.
“An ageing population, coupled with the way technology is changing the nature of work, means the country is facing a big challenge. Businesses have to work together with government to support older employees to stay in fulfilling and productive jobs.”