Businesses need to do more to recruit and retain older workers, the Chartered Institute of Personnel and Development (CIPD) has said. New research carried out on behalf of the CIPD found many examples of employers introducing initiatives that are attractive to older workers. Most, however, have been introduced on an ad-hoc basis to deal with specific issues. What is required, argued the CIPD, is a more integrated approach that takes into account whether the pay and financial and non-financial benefits on offer are appealing to older employees. With demographic changes, skills shortages and recent legislation on age all making their mark, the CIPD said it was important that employers address the challenges of an ageing workforce. Charles Cotton, the CIPD’s reward and employment conditions adviser, commented: “Employers are recognising the importance of an older workforce but this is being influenced by the law and what they can and can’t do, rather than what they should be doing. For instance, while employers have been examining pay progression, few have taken the opportunity to evaluate whether the way they structure pay is sufficiently flexible to meet individual aspirations across all age groups.” Mr Cotton added: “When reviewing and revising their reward approach, employers need to take the opportunity to examine whether how they reward their employees is appealing to older workers, as well as other groups.” Date:5 February 2008
Content by: Companies Made Simple
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