There are already 9.4 million people in employment over the age of 50 in the UK, equivalent to over 30% of the workforce. In future decades, a vast proportion of this group will leave work permanently, taking their acquired skills and experiences with them. Unfortunately, long-term demographic change means that there is unlikely to be a burgeoning supply of younger people in the UK who will enter the labour market to replace retiring workers, while levels of migration are likely to be lower than that experienced over the past decade, further limiting the available talent pool. But while this broader picture seems familiar, the extent to which ageing could affect different UK industries is not.
Do you agree with the CIPD's views on the ageing workforce? Has this issue created any new challenges for your organisation? Share your thoughts in the comment box below.
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