SMEs must prepare to meet demands of an ageing workforce

An ageing workforce
An ageing workforce

Around 53% of employers have taken no steps to meet the needs of an ageing workforce.

Only 7% have refocused their health, wellbeing and absence-management procedures to manage those with age-related conditions.

This is according to research from Group Risk Development (GRiD) shows that 53% of employers have taken no steps to meet the needs of an ageing workforce. Only 7% have refocused their health, wellbeing and absence-management procedures to manage those with age-related conditions, and only 2% continue to provide Group Risk benefits for those aged over 65.

However, employers may not be aware that a lot of help is available via Group Risk protection policies (employer-sponsored life assurance, income protection and critical illness). The added-value services that come along with these policies can offer a huge amount of support tailored to the needs of all generations, from vocational rehabilitation services to help people stay in work, help with modifications, right through to help with managing chronic conditions.

Spokesperson for GRiD Katharine Moxham says, “Group Risk isn’t just there to offer financial support – although that can be a great benefit for many – it can actually offer numerous areas of practical support which are valuable across the board. Different generations can have different needs, and the services offered alongside Group Risk policies are flexible and invaluable for employers looking to create an inclusive and supportive work environment.”