A survey conducted by Group Risk Development (GRiD) has found that 33% of employers in the United Kingdom have seen the average age of their workforce increase over the last year, a period following the abolition of the Default Retirement Age (DRA). In addition, GRiD reports that 25% of employers said that DRA removal had enabled them to retain knowledge and experience within their business, and a further 17% felt it had increased the diversity in their workplace.
Other findings from the survey indicate that:
- 59% of employers felt that the removal of the DRA meant they were
more likely to recruit employees aged 50 and over; - 23% of employers felt that older workers were a store of knowledge;
- 22% of employers said they were more likely to be loyal to the company; and
- 14% of employers said that older employees had the ability to motivate other staff.
On the "negative" side of employing a more age diverse workforce, the survey found that 27% of the employers had seen an increase in absence rates or age related health conditions (such as diabetes and arthritis) since the removal of the DRA.
Source: m Group Risk Development
Press Release (January 28, 2013)