The new “Flexible After Fifty” report highlights the significance of flexible working for individuals over 50 in the UK.
- According to the report, 72% of individuals over 50 seek flexible work to balance personal and professional duties.
- Part-time and home-working patterns among the over-50s have notably increased, enhancing work-life balance.
- The report suggests comprehensive recommendations for both government and businesses to implement flexible policies.
- Advocates argue that flexi-work supports longer, fulfilling careers and mitigates pension savings challenges.
The “Flexible After Fifty” report, produced by the 50+ Choices Roundtable, underscores the value of flexible working arrangements for individuals over 50. A substantial 72% of this age group are seeking flexible work options primarily to achieve a better work-life balance, with caregiving responsibilities and personal pursuits being significant motivators. Flexibility in working hours is thus seen as critical for this demographic to maintain employment and reduce the pension savings shortfall.
The report further highlights a significant rise in flexible working arrangements among the over-50s, noting that 33.2% are engaged in part-time work. Additionally, rates of home-working have more than doubled from 10% in 2020 to 22.4% in 2023. Flexi-time arrangements, allowing employees to modify start and end times within specified limits, are used by 12.9% of workers over 50, indicating a trend towards more adaptable work schedules.
As the “Flexible Working Act” is set to be enacted in April 2024, the report calls for governmental agencies to lead by example in measuring flexible working uptake and success across age brackets. Recommendations include enhanced HR support for small enterprises, ensuring flexible training opportunities, and endorsing the Centre for Ageing Better’s “Age Friendly Employer Pledge.” These measures aim to enhance retention, reskilling, and recruitment of older workers.
Business advocates, such as Andy Briggs and Peter Cheese, emphasise the need for promoting flexible work policies. They assert that such measures will not only benefit employees by prolonging their careers and improving retirement outcomes but also help employers retain skilled and experienced staff, thereby addressing workforce skill gaps. By becoming more age-inclusive, businesses can foster a more dynamic and experienced workforce.
The recommendations in the report, developed with input from multiple prominent organisations, advocate for a collaborative approach to implementing flexible working policies. The government and businesses are urged to adopt these recommendations to ensure older workers can enjoy long, satisfying careers while contributing to the economic landscape.
The “Flexible After Fifty” report makes a compelling case for widespread adoption of flexible working arrangements to support older workers, enhance their career longevity, and address systemic economic challenges.
