Too Much to Lose: Understanding and Supporting Britain’s Older Workers

Wednesday, 20 June 2012

Too Much to Lose: Understanding and Supporting Britain’s Older Workers

Synopsis

The UK’s aging population is creating a significant need for people to work later in life. Too Much to Lose outlines that this, along with other trends, means that older workers will continue to play a much more significant role in the UK economy than ever before. This presents both opportunities and challenges. Today’s older workers are more educated, less likely to work in physically demanding roles and are less susceptible to health problems than ever before. However, the challenges facing older jobseekers are large: a jobseeker over the age of 50 is significantly less likely to return to work within the next year, and the cost of spells of unemployment to future wages is considerably greater than it is for younger or middle-aged workers.

This report argues that the back-to-work support provided to older workers fails to meet their needs. To tackle this, it sets out a plan for support that directly addresses the needs of older workers, at the same time as demanding that jobseekers are doing all they can to get back to work. As well as this we argue that there is a need to look at retirement differently, promoting more flexible working and supporting better communication between businesses and their employees. To facilitate these changes, the government’s approach must change. Up to now, the political focus has been centred on the problems of younger workers, and this has distracted attention away from the need to value and support older workers in the UK. This must change so that government focuses support on those with the greatest needs, rather than just targeting support by age.

If implemented, these recommendations will ensure that the older workforce continues to play a major role in the UK economy in the future. Failing to act now risks marginalising a whole generation of older workers and severely damaging both their welfare and the economy as a whole.

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  • If the pension pot is empty, we have to let older people work

    15 January 2013

    Findings from Policy Exchange report Too Much to Lose that people over the age of 50 are more heavily discriminated against than younger applicants when searching for a job, are cited by The Independent.

  • Matthew Tinsley on You and Yours

    10 July 2012

    Economics & Social Policy Research Fellow Matthew Tinsley appears on You and Yours arguing that older workers should receive more recognition in the UK economy, citing Policy Exchange report Too Much to Lose.

  • Older workers are hit hard by long-term unemployment

    06 July 2012

    Policy Exchange report Too Much to Lose is covered by The New Statesman, citing original research conducted for the report which found that younger workers were 125% more likely to get a response for work than an older worker applying for the same job.

  • A minister for older people would be a victory for all generations

    02 July 2012

    In a Guardian Blog calling for a minister for older people Policy Exchange report Too Much to Lose is cited highlighting the barriers to employment many people over 50 face when unemployed.

  • A minister for older people would be a victory for all generations

    02 July 2012

    In a Guardian Blog calling for a minister for older people Policy Exchange report Too Much to Lose is cited highlighting the barriers to employment many people over 50 face when unemployed.

  • England's Transformation Under Roy Hodgson at Euro 2012

    24 June 2012

    In an article on England football team manager Roy Hodgson, The Sunday Express points out findings from Policy Exchange report Too Much to Lose that in other walks of life a man Hodgson's age would find significant barriers to getting back to work if they lost their job.

  • Over-50s stuck unemployed as firms flout age discrimination rules with 'huge bias' against older workers

    22 June 2012

    This is Money covers Policy Exchange's report Too Much to Lose, citing the report's findings that older workers face significant barriers to entering the labour market, including age discrimination.

  • Helping older workers

    20 June 2012

    Economics & Social Policy Research Fellow Matthew Tinsley makes the case from Policy Exchange report Too Much to Lose that older workers, with their significant experience and skillsets, have a lot to contribute to the UK workforce. He argues that continued government focus on mostly helping jobseekers under the age of 25 will damage the economy and affect large numbers of people who wish to work longer in life.

  • Skills of older workers 'vitally important to businesses'

    20 June 2012

    ITV News quotes Economics & Social Policy Research Fellow Matthew Tinsley, author of Too Much to Lose, calling for recognition of the vital role older workers play in the UK economy and the need for greater support to help older jobseekers back to work.

  • Unemployment falls for third month in a row

    20 June 2012

    Channel 4 News reports on research from Policy Exchange publication Too Much to Lose which found that older workers are still more heavily discriminated against when applying for jobs. Report author Matthew Tinsley stresses the importance of the skills and experience older workers offer employers and calls for greater support for helping unemployed older jobseekers back to work.

  • Long-term unemployment is 'hidden crisis' of slow recovery, warns IPPR

    20 June 2012

    The Guardian covers Too Much to Lose, Policy Exchange's latest report looking at the struggle older workers face finding jobs. Report author Matthew Tinsley is quoted criticising the focus on younger workers at the expense of the old, who make up a quarter of the UK workforce, and calls for greater levels of support to help unemployed older workers back into the labour market.

  • Rampant age discrimination sees older workers rejected from jobs

    20 June 2012

    The Daily Telegraph reports the findings from original research for Policy Exchange report Too Much to Lose that older jobseekers have to overcome a huge bias in favour of younger people when applying for jobs. They quote report author Matthew Tinsley stressing the importance of older workers to the UK economy.

  • Over-50s ‘shunned’ when seeking work

    20 June 2012

    The Times covers Policy Exchange's latest report Too Much to Lose, which highlights the difficulty older workers face in regaining employment compared to younger people, despite the importance of older workers to the UK economy.

  • Matthew Tinsley on BBC Radio Newcastle

    20 June 2012

    Economics & Social Policy Research Fellow Matthew Tinsley is interviewed on BBC Radio Newcastle about Policy Exchange's latest report Too Much to Lose. He shows how older workers face significant discrimination in job applications processes and criticises the focus of government aid on younger workers, arguing it should be targeted at those with the highest barriers to work, regardless of age.

  • Long-term jobless 'hidden crisis'

    20 June 2012

    The Press Association report the findings from Policy Exchange report Too Much to Lose that older workers still face discrimination because of their age, and that they are likely to remain out of work for longer periods of time than other age groups.

  • Unemployment down - but number of dole claimants rises

    20 June 2012

    The Independent cites findings from Policy Exchange's latest report Too Much to Lose that over-50s are more likely to remain out of work for longer than younger workers.

  • Matthew Tinsley on BBC Radio 5 Live

    20 June 2012

    Matthew Tinsley, Economics & Social Policy Research Fellow and author of Too Much to Lose, goes over the report's findings on BBC Radio 5 Live. He revealed that older workers are more unlikely than any other age group to find reemployment in the first 12 months after becoming unemployed.

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