Retention of older workers in the workplace is increasingly under the spotlight and understanding how to plug skills and talent gaps is key. Our report "Providing for tomorrow today: understanding an ageing workforce" conducted by Censuswide highlights some fascinating data around workforce and workplace provision with the survey covering questions relating to employee benefits, pension requirements, retirement age, skills gaps and training, and preferences relating to employment status. The report draws out some key learnings to help employers prepare and provide for an ageing workforce.
The report also delves deeper into each of our 7 industry sectors.
Sector survey headline findings
We talk a lot about Millennials and Generation Z – how to retain them and keep them engaged in work. The chat is quieter when it comes to Baby Boomers and Generation X. This is starting to change for the simple reason that the workforce is ageing. Olivia Sinfield - Partner, Employment and International Head of Urban Dynamics
The survey highlights workers’ aspirations as they approach retirement and how their priorities will change. We hope that you find this survey, its data and findings, useful when thinking about your recruitment and retention strategies. Ian Hyde - Partner, Head of Tax Disputes and Osborne Clarke Age Champion
Benefits
The survey features data on workers' preferences around benefits. Which are most important to them? Which benefits do they not currently receive from their companies, but wish they did? Which do they think would allow them to approach retirement most happily?
Skill sets
We asked workers across the sectors for their thoughts and feelings about skill sets. Do they think they will need to reskill and upskill prior to retirement? Do they feel confident about their ability to do so? Do they feel their current skills are valued by their current companies?
Retirement plans
Another of the areas covered by the survey was around plans for retirement. What age would workers retire in an ideal financial scenario? What about based on their current financial situation? How much do they think they will need to retire at their intended retirement age?
Our methodology
The research was conducted by Censuswide, among a sample of 700 people based in the UK, working full-time or part-time in the following industry sectors:
- Energy and Utilities
- Financial Services
- Life Sciences and Healthcare
- Mobility and Infrastructure*
- Retail and Consumer
- Technology, Media and Communications
- The Built Environment
The respondents included 100 people working in each industry sector and were categorised by age brackets:
- 35-44 year olds
- 45-55 year olds
with quotas of 50 of each of the following:
- junior level
- middle management level
- senior level (natural fallout beyond that).
The data was collected between 10 February 2023 and 22 February 2023. Censuswide abides by and employs members of the Market Research Society and follows the MRS code of conduct which is based on the ESOMAR principles.
* Responses from the Mobility and Infrastructure sector were defined in the survey as ‘Transport and Infrastructure’.
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