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One of the key challenges facing individuals of all ages is the uncertain economic climate. However, older adults, arguably, face a greater challenge in both re-entering the labour market and, increasingly, staying in the labour market.
Many individuals aged 50 plus face real uncertainties around their current and future employability, which can be exacerbated by organisations offering incentives for older workers to accept voluntary retirement or redundancy. The true social impact of such schemes where retirees in their mid- to late fifties, who are healthier than previous generations and still have the capacity to continue working will not be fully known for another 5-10 years.
Financially working up to and beyond statutory retirement age may not be an option, but a necessity given dwindling pension pots and unforeseen time out of the labour market. Yet for older unemployed adults who are actively seeking to re-enter the labour market, significant barriers exist such as a lack of confidence and self-belief and lack of further or higher education qualifications.
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