Over a quarter of employers have seen an increase in absence rates or age related health conditions since the removal of the default retirement age (DRA), according to research from Group Risk Development (Grid).
Despite this though, its ‘Group risk employer research study 2012’ suggests that an ‘ageless’ workforce does have its benefits.
In the report based on the views of over 500 UK employers, 33% of those surveyed state that they have seen the average age of their workforce increase over the past year and a quarter believe that the removal of DRA has enabled them to retain knowledge and experience within their company.
In addition to this, a further 17% felt it has increased the diversity in their workplace and 59% felt the removal of the DRA meant they were more likely to recruit employees over the age of 50.
Commenting on the findings, Katharine Moxham, spokesperson for Grid, said:
“Older employees can bring a wealth of experience, confidence and mentoring skills to a business so it’s great to see the average age of the workforce increasing.
“However, as our survey demonstrates, an increase in absence rates and age-related health conditions can present a challenge to employers which can then have a knock-on effect to benefit provision.”