The latest report from the Office for Budget Responsibility, published yesterday (17 July) argues that the UK needs more immigrants to cope with an ageing workforce and public sector debt, but it is overlooking the un-tapped skills of older workers in the UK, says the author of a new report.
Justine James, director of HR consultancy Talentsmoothie and author of ‘The Ageing Workforce – What’s Your Strategy?’ says: "Rather than just looking to immigration as the answer to a talent shortfall, the Office for Budget Responsibility (OBR) should be looking to our own hidden talent pool to bridge the gap. Our research finds the ageing workforce doesn’t want to retire, they want to keep mentally active and continue to contribute."
The report highlights the fact that over 50s have accounted for 85% of new business start-ups in the UK over the past two years, and argues that without investment in finding out what interests and inspires this population, this valuable resource might walk out of the door.
Research carried out for the report found that eight out of 10 organisations are not planning any policy changes to recruit, retain and engage older workers. This is despite existing skills shortages in industries such as energy and engineering, and estimations there will be 13.5 million job vacancies over the next 10 years, but only 7 million school and college leavers.
A free PDF e-sample of the report is available online, and the full printed report costs £345. There is also a corporate package consisting of six printed copies of the report plus a PDF version for distribution within each buyer’s organisation, total price £2000. For further information and to order go to the Talentsmoothie web site at www.talentsmoothie.com.