The New State Pension Age And What It Means For Employers

Share this page:

The New State Pension Age And What It Means For Employers

Friday, January 10th, 2014

In George Osborne’s latest autumn statement he announced that the national state pension age will be calculated using a new formula to keep pace with increasing life expectancy.

The New Pension Age And What That Means For Employers?

This means that anyone now in their 40s or below will be affected by the change. Some industries that are labour intensive now have to consider developing a strategy for the development of an ever increasingly aging workforce.

Others will say that it will encourage the retention of much needed skills in the workforce that are being lost due to the “baby boomer” generation (1945-1955) that have already started to retire.

So what does this actually mean for employers?

The combination of an already aging workforce and the loss of the “baby boomers” who are now retiring will result in a loss of skills across many industries. The result? Vital experience that could have been passed on to the next generation – lost.

Some organisations are not aware of these impending problems. If you do not have a long term strategy, now is the time to make one in order to keep ahead of competition; to keep your key talent and not squander the organisation’s invaluable insights.

Change the way you train, develop and engage.

The way many businesses train is focused on the early development stages after an employee enters the workforce; however there must be continual training throughout their whole working life cycle.

The training should adopt a targeted approach especially when tailored to the older person. Recent studies suggest that older workers are less inclined to participate in training because they feel that a lot of it is targeted more towards a younger audience. It’s like making a product for a teenager to use and targeting it at an older generation. It just doesn’t make sense.

The benefits from continual training are plentiful: from greater loyalty to increased motivation and of course productivity.

Managing health and well-being

As your workforce ages, you have to be prepared to give them flexibility in the workplace as well as being more sensitive to their health needs. If you do not then the likelihood of a dissatisfied, unmotivated employee who will possibly leave, then their skills will be lost.

Invariably employees enjoying good health care and flexible hours are more productive, more motivated and loyal.

What are the benefits of an aging workforce?

Contrary to perceived wisdom the benefits to having an aging workforce can be huge. An organisation that is attractive to older employees has major advantages because they will bring a wealth of experience and knowledge that will benefit your organisation.

Martin Wilde is a Marketing Executive with Ramsey Hall Ltd. Ramsey Hall is a highly respected and long-established boutique Talent Management Consultancy.

Follow Ramsey Hall On LinkedIn

Sign up to our e-mail list to find out how to discover how your organisation can get the best from its people.

Phil Boyle Takes Up Prestigious Global Aerospace Position as President of the Royal Aeronautical Society

Tuesday, May 22nd, 2012

Southampton, UK – 22 May 2012 – Phil Boyle, the Managing Director of Southampton based HR Consultancy, The Ramsey Hall Group, has been appointed as President of the Royal Aeronautical Society, the world’s oldest and most prestigious aerospace organisation. Established in 1866 and with over 17,000 members worldwide, the RAeS is head quartered in London but has nearly 100 branches across the world.  A completely multi-disciplinary Society, the RAeS has members from each and every part of the aerospace sector.

Commenting on his appointment, Boyle said, “I am deeply honoured to become the President of the RAeS, one of the most prestigious roles in the world of aerospace and aviation. Having been a member of the Society for over 40 years, I look forward to guiding the Society over the next year as we first undertake the biggest changes to our governance in over 50 years and then roll out an innovative “New Media” based membership offering that will completely globalise the Society with every member no matter where they are in the world enjoying essentially the same benefits.

“This has been an exciting time for Ramsey Hall too, as we saw our business grow by 80% in 2011.

“As a pilot, chartered engineer and HR professional I hope that my skills and experience will benefit the RAeS as it continues to encourage young talent to consider aviation and engineering as their career path.  Having chaired the local Solent branch which covers the whole of the Portsmouth and Southampton conurbation, I know how important our members are at a local level and will continue to strive to encourage them all to promote this amazing industry.”

Boyle will become part of a proud history of Society RAeS leaders, whose past presidents include HRH Prince Philip, the Duke of Edinburgh and military aviation pioneer Sidney Camm – the designer of the Hawker Hurricane.  Phil is the longest serving Trustee of the Royal Aeronautical Society and also the current Chair of the Solent branch – recognised across the society as being an exemplar branch and especially highly regarded for the support it provides to young people wishing to study for a career in aviation.



Talent Management – Do You Know How to Make the Most of Your Team?

Wednesday, November 16th, 2011

It’s been a busy few weeks for Ramsey Hall with two development centres for one of our largest clients. Increasingly organisations are looking to their exisiting staff to fill the skills gaps and grow the business, rather than the costly process of recruitment.

How do you know who is the best and most effective in your team? How do you get the most out of them? Our Talent Management White Paper clearly shows what you need to consider and the importance of talent management in your HR strategy. Click here for more information and perhaps talk to one of our consultants on 02380 236944.

Reducing People Costs Through Improved Performance – white paper

Wednesday, September 14th, 2011

With numerous high profile insolvencies having been filed over the last couple of months, now is perhaps a good time to take a look at how your organisation can potentially cut people costs whilst maintaining, or even enhancing, business performance.

To view this white paper, please click here


Talent Management – white paper from Ramsey Hall

Wednesday, September 14th, 2011

At a time of unprecedented economic pressure you may feel that investing money in talent management programmes is too much of a luxury. Well, there is strong evidence to suggest that companies who invest are better placed to succeed, when recovery gathers pace. In this paper, we look at some false assumptions people have when considering their talent management strategy.

Cllick here to view our white paper.