Employers should consider 'needs of older workforce'
Bosses should be considering whether their rewards and benefits packages are addressing the needs of older workers, the Chartered Institute of Personnel and Development (CIPD) has warned.
CIPD reward and employment conditions adviser Charles Cotton noted that recent research from the body conducted by the Cranfield School of Management discovered that many employers must take a holistic approach to remuneration packages.
"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," he said.
The CIPD has urged employers to use a systematic and integrated method to deal with the matter, rather than on an ad-hoc basis.
Mr Cotton added that companies may find they no longer have "the skills and experience that they need to sustain high-performance working" in the future if they do not tempt older workers presently.
Last month, linkme.com.au discovered that 82 per cent of employees aged 41 to 55-years-old are seeking new employment.