Summary
Lyndsey Simpson, founder of 55/Redefined, is transforming perceptions around ageing in the workplace. She champions valuing experience, promoting later-life careers, and challenging outdated retirement notions.
Simpson highlights an impending demographic shift, predicting that by 2030, 47% of the UK workforce will be over 50 years old. Birth rates are falling, leading to a workforce increasingly populated by older individuals, prompting businesses to reassess their strategies. Founded in 2021, 55/Redefined includes three companies aimed at positively impacting the over-50 demographic in work environments.
Simpson notes that many older workers feel at their peak and are reluctant to retire. With a significant uptick in gig workers over the age of 50, businesses can benefit from the expertise that older employees bring. She recounts experiences from her previous role, where retirees expressed a desire to return to work due to feelings of isolation and lack of purpose.
Moreover, Simpson argues that businesses should focus on “ROE” (Return on Experience) rather than just ROI (Return on Investment), highlighting the irreplaceable value of experienced employees. She warns leaders that ignoring the ageing workforce could be detrimental to their own futures.
Key Points
- By 2030, nearly half of the UK workforce is expected to be over 50.
- 55/Redefined promotes a positive narrative around ageing and challenges traditional retirement views.
- Older workers increasingly participate in gig and flexible roles, bringing significant expertise to the table.
- The return of retirees to the workforce highlights the need for businesses to consider their age strategy in recruitment and retention.
- Leaders are urged to calculate the “Return on Experience” of older employees in their organisations.
Why should I read this?
If you’re in leadership or HR, this article serves up a vital reality check about ageing in the workforce. Lyndsey Simpson’s insights could reshape your growth strategy, ensuring your organisation isn’t just gearing up for today but is also prepared for the future. Don’t miss out on how changing your perspective on age might unlock untapped potential in your business.