A new resource designed to help those aged 45+ make empowered choices about their future working lives and retirement plans has been unveiled by the Humber Local Enterprise Partnership (LEP).
The LEP is one of 10 areas to pilot the scheme, launched by the Government’s Department for Work and Pensions and running until April 23rd, which is focused on supporting not just individuals with their future plans, but also to support employers with an ageing workforce to also take positive steps.
The recent economic downturn brought about by Covid-19 makes this support more important than ever for those in midlife – who may have their own health and finance concerns, while facing new additional pressures – such as job searching in an uncertain market, caring for aging parents, or needing to change their work/life balance.
The new tool invites individuals to look at not just their finances, but also their health, wellbeing and skillset, while it encourages employers to support those aged 45-plus in areas such as flexible working, pension evaluation and ensuring they are an ‘age-friendly’ employer. This is especially important given that by 2021, one in three workers will be over 50.
As part of this programme, the LEP in conjunction with local partners at the National Careers Service, Money & Pension Service, Public Health England and Active Humber have developed and published a ‘one stop shop’ online platform, containing free services and tools for both individuals and employers alike.
The platform highlights and redirects both individuals and employers to existing tools and services, which not only offer key advice but lead the way to activities and simple steps individuals can take to make important changes and carry out steps they may have been putting off.
As part of our employer engagement, businesses are being invited to take part in a series of workshops led by Humber HR People, entitled ‘The Power of the Hidden Workforce’, which will discuss how to attract and hire hardworking, committed employees and find out more about the funding available for hiring and retraining employees.
Stephen Parnaby, Chair of the Humber LEP, said: “Employment prospects for the over-50s have been behind other age groups for several years now, but Covid 19 has brought this issue into sharp focus, which has highlighted the need for people to reconsider a career in a new sector, or whether they might like to look at either upskilling or re-skilling.
“The over-50s are also at a higher risk of experiencing persistent long-term unemployment compared to younger groups, which means that without early and targeted employment, careers and skills support they are could remain jobless, and are at an increased risk of becoming long-term unemployed or economically inactive.
“Through supporting those in mid-life to re-evaluate their work, health and finances, explore re-skilling and flexible working, consider ways of maintaining and improving health and review pension prospects, the Mid-Life MOT programme will help create a resilient and skilled future-directed work-force”.
Kate van der Sluis, Managing Partner of Humber HR People, working in partnership with LEP, said: “Regional businesses have for a long time struggled to attract and retain a talented and diverse workforce. We are pleased to be working in partnership with the LEP to explore the opportunity of this hidden talent pool, and developing a toolkit to help regional businesses recruit, retain and retrain the over 50s”.
Click here to take the diagnostic tool, and find out about what support and resources are on offer, whether you’re an individual or an employer.
To book your place on ‘The power of the hidden workforce for SMEs (and how to fund it)’ course, please click here.