Aviva : OLDER WORKERS AGED OVER 50 SAY THE ODDS ARE STACKED AGAINST THEM WHEN IT COMES TO JOB PROSPECTS

12 Feb 2017

• 83% of workers aged 50 and over believe there are fewer employment opportunities available to them now that they are older

• 79% of older workers say their age makes them less inclined to apply for a new job

• 88% of older workers feel they have more skills to offer in the workplace than their younger colleagues

• 64% of workers aged 50 and over will have to work longer than they thought they would have to, for financial reasons

• The availability of flexible working patterns or hours would most encourage older workers to stay in employment beyond their state retirement age

More than four in five (83%) UK workers aged 50 and over say there are fewer employment opportunities available to them now that they are older, despite feeling they have more experience to offer in the workplace than their younger colleagues, new research from Aviva shows.

A total of 79% of workers aged 50 and over also say they are less inclined to apply for a new job due to their older age and 80% think they will have less chance of success if they do apply, compared to younger applicants.

More than three quarters (78%) of older workers say age discrimination against older workers exists in the workplace. Aviva's research was conducted among 2000 people aged 50 and over, working in paid employment across the UK.

The findings come as CEO of Aviva UK Life Andy Briggs, in his role as the Government's Business Champion for Older Workers, has called on employers across the UK to increase the number of people they employ aged 50-69 by 12% within the next 5 years. Andy, in collaboration with the Business in the Community (BITC) Age at Work Leadership Team, of which he is Chair, has asked employers to work together to create employment opportunities for a million more older workers by 2022.

Despite the widespread feeling among workers aged 50 and over that their workplace opportunities are limited due to their older age, most say they have a lot to offer employers. Four in five older employees (88%) feel they have more skills to offer in the workplace than their younger colleagues, while 95% say they have more experience.

Almost two-thirds of workers aged 50 and over (64%) say they will have to work longer than they thought they would have to, for financial reasons. When asked what would encourage them to stay in employment beyond the state retirement age, the top three factors were availability of flexible working patterns or hours (39%), the need for intellectual stimulation (32%), and financial need (32%).

CEO of Aviva UK Life, Andy Briggs said in his role as Business Champion for Older Workers and Chair of BITC's Age at Work Leadership Team:

'There is clear evidence that people aged 50 and over are confident of the knowledge, skills and experience they bring to their work. Many tell us they want and need to continue working, and have workplace-related ambitions for the later years of their lives. By 2020, over a third of the UK workforce will be over 50There is simply too much ageism, both conscious and unconscious, in our society which is leading to fewer employment opportunities available to older workers. This needs to change.

'Working brings with it benefits over and above the obvious financial rewards, including increased wellbeing, friendships and a sense of accomplishment. These benefits apply to older workers just as much as younger employees, and a diverse workplace is likely to create a more dynamic and productive working environment.

'Diverse businesses are better businesses - they make better decisions, better represent their communities and better represent their customers. Our ageing UK population and the widening skills gap means it's crucial that we start to shift attitudes towards older workers. Having a greater proportion of over 50s in employment in the future is not just useful, but is essential to the wellbeing of society and to business success.'

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If you are a journalist and would like further information, please contact:

Instinctif Partners: Sam Ferris (0207 427 1444 or 07719 475 230) or Jordan Campbell (07581 628825) at aviva@instinctif.com

Aviva Press Office: Monique Crockett (07800 693182 or monique.crockett@aviva.com) or Jess Geoghegan (07800 695673 or jess.geoghegan@aviva.com)

References:

ONS, Labour market projections 2006-2020

Methodology:

All percentages and figures shown in this report (unless otherwise cited) come from an online survey conducted by Censuswide research for Aviva UK. The survey was carried out in January 2017. Respondents were invited from an online panel and 2,004 interviews were conducted amongst UK adults aged 50 and over in paid employment from a diverse range of organisations.

All references to 'older workers' in this press release refer to workers aged 50 and over.

Notes to editors:

On 4 September 2016 The Government appointed Andy Briggs, who is CEO of Aviva UK Life, as its Business Champion for Older Workers alongside the Business in the Community Age at Work Leadership Team of which he is Chair. As Business Champion, Andy and Business in the Community are tasked with supporting businesses to retain, retrain and recruit older workers.

Aviva:

• Aviva provides life insurance, general insurance, health insurance and asset management to 33 million customers, across 16 markets worldwide
• In the UK we are the leading insurer serving one in every four households and have strong businesses in selected markets in Europe, Asia and Canada. Our shares are listed on the London Stock Exchange and we are a member of the FTSE100 index.
• Aviva's asset management business, Aviva Investors, provides asset management services to both Aviva and external clients, and currently manages over £319 billion in assets.
• Aviva helps people save for the future and manage the risks of everyday life; we paid out £30.7 billion in benefits and claims in 2015.
• By serving our customers well, we are building a business which is strong and sustainable, which our people are proud to work for, and which makes a positive contribution to society.
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Business in the Community:

Business in the Community is the Prince's Responsible Business Network. Our members work together to tackle a wide range of issues that are essential to building a fairer society and a more sustainable future. Responsible business is about how a business makes its money not just how it spends its profit. It is about managing growth responsibly while reducing dependency on natural resources. It is about how the business operates as an employer, supplier and customer and how as a neighbour it helps to create vibrant communities where people can flourish.

We are a business-led, issue focused charity with more than 30 years' experience of mobilising business. We engage thousands of businesses through our programmes driven by our core membership of over 800 organisations from small enterprises to global corporations.

The age at work campaign at Business in the Community is committed to ensuring that an ageing population has equal access to employment, supporting employers to prevent early exit from working life, support later life working and support intergenerational workforces. In September 2016, the campaign's Leadership Team was appointed the Government's Business Champion for Older Workers (Andy Briggs), tasked with leading work to support businesses to recruit, retain and retrain older workers and to identify and share demonstrable solutions for employers. http://age.bitc.org.uk/ @AgeBITC #OneMoreMillion #OlderWorkers