Understanding an ageing workforce: Retail and Consumer

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 Retail and Consumer sector compared to six other key industry sectors.

The pandemic and cost-of-living crisis has impacted the Retail and Consumer sector significantly, which is reflected in survey responses, including a relatively negative view of retirement.

Contact us about the full Retail and Consumer sector findings
£50k
average annual income required to retire
(the lowest of all sectors surveyed)
 
89% 
feel supported by their company in planning for their retirement 
(83% cross-sector)

 

 
25% 
are confident in their financial situation during retirement 
(29% cross-sector)
 

 

 
45%* 
feel their skills are undervalued by their company 
(37% cross-sector)

 

 
26% 
feel anxious when thinking about retirement 
(compared to 22% cross-sector)
 

 

 
65%* 
feel optimistic that they can learn new skills
(69% cross-sector)

 

 
43% 
say a salary increase would encourage them to work for longer 
(42% cross-sector)
 

 

 
66%* 
are ambitious and want to better themselves
(62% cross-sector)

* "strongly agree" and "somewhat agree" responses combined

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The retail sector faces increasing pressure from employers and stakeholders to be more sustainable; this was demonstrated by our report findings as sustainability was a high priority for the workforce in the sector, in comparison to company culture and hybrid working (which is less relevant for retail workers in stores). In addition, there is a desire and optimism to learn and upskill as required.

Anna Elliott

Partner, International Sector Lead, Retail and Consumer, UK

T: +44 117 917 4312
anna.elliott@osborneclarke.com

 

To share your experience/discuss the full Energy and Utilities sector survey findings, contact Anna Elliott, 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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