Understanding an ageing workforce: Life Sciences and Healthcare

Survey headline findings

By better understanding an ageing workforce, businesses can design and build stronger cross-generational workforces for the future. Our survey explores the needs and wants of employees, aged 35-55, working in the Life Sciences and Healthcare sector compared to six other key industry sectors.

Findings suggest that flexibility is an important factor in keeping older workers in the Life Sciences and Healthcare sector happy, whilst pension is less of a motivator. We would encourage employers in the sector to review their multigenerational employment strategy.

Contact us about the full Life Sciences and Healthcare sector findings
95%* 
feel supported by their company in planning for their retirement 
(83% cross-sector)
 
28%* 
say flexible working hours will help them end their career happily
(16% cross-sector)

 

 
52% 
say a gradual retirement scheme would encourage them to work for longer
(42% cross-sector)
 

 

 
44%
will need additional training in computer/ technology-based skills to ensure they can do their job until they retire
(34% cross-sector)

 

 
50%* 
say a salary increase would encourage them to work for longer
(42% cross-sector)
 

 

 
28%**
the least likely sector to feel undervalued by their company 
(37% cross-sector)

 

17% 
say their pension will help them end their career happily 
(25% cross-sector)
 

 

 
93%* 
would like to work remotely abroad in their current role 
(79% cross-sector)

* highest percentage of all sectors surveyed
** “strongly agree” and “somewhat agree” responses combined

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Although workers in this highly skilled sector remain fairly confident about their skills generally, the sector had the highest number of respondents saying they need training in computer and technology based skills. An interesting insight that reflects the increasing role data and digital are playing and the potential impact that artificial intelligence is going to have.

 

Will James

Partner, International Life Sciences and Healthcare Sector Leader, UK

T: +44 207 105 7774
will.james@osborneclarke.com

 

Next steps

To share your experience/discuss the full Life Sciences and Healthcare sector survey findings, contact Will James, or Paul Matthews, Partner, Pensions and Head of Future of Work.

Download our cross-sector survey report of findings and find out about our survey methodology.

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