Click here to close now.




















Welcome!

News Feed Item

Older Worker Poll Shows Value of Experience as Money and Pension Worries Keep People in Employment Longer

- 60-plus staff make great role models

LONDON, UNITED KINGDOM -- (Marketwired) -- 02/04/14 -- Working beyond the traditional retirement age is having a positive effect in the British workplace as older people stay on in work because of high living costs and uncertainty about the future, a survey commissioned by Nationwide Building Society shows.

The research gives an insight into why people may be working later in life, with more than two fifths (41%) of workers believing they will not be financially secure in retirement, while nearly three-quarters (74%) were concerned that their pension alone won't be enough for them to continue at their current level of personal spending.

Despite this, more than two thirds of all UK adults (68%) think having a person in a team at work aged over 60 has, or would have, a positive impact. Furthermore, nine out of ten people (88%) believe those aged 60 and above can be excellent mentors or role models to those in their 20s and 30s. The research also shows that while 78% of people polled think that it is important that younger colleagues help those in their 60s to use new technology at work, more than two thirds (71%) believe the introduction of gadgets such as smartphones and tablets has forced those aged 60 and above to keep up with younger peers.

The survey highlights some surprising results regarding sickness records at work, with 45% of workers aged 55 and above having not taken sick leave over the past 12 months, compared to 36% of 18-24 year olds. Just over one in four (26%) of those aged 55 and above have taken up to three days off for illness, compared to 40% of 18-24 year olds. The poll also shows that 35-44 year olds are the age group most likely to take time off work for a hangover (8%), compared to just 1% of those aged 55 and above, and that 70% of those aged 55 and above usually arrive early to work compared to 47% of those aged 25-34 and 50% of those aged 18-24.

Early retirement has become an unlikely prospect for the overwhelming majority, according to the survey, with just 3% of workers believing they will be able to retire at the age of 55. However, some 13% of those polled expect to retire at 60, while 16% expect to retire at 65 and 15% believe they will only be able to give up work aged 70. A further 2% believe they will not be able to retire until after they are 75.

Nationwide was the first major UK organisation in 2005 to change its employment policy to enable employees to work until the age of 75 and, in 2011, the Society removed the retirement age completely. The Society employs around 17,000 people, of which 16% are aged 50 or over, and 2% are aged 60 or above.

Alison Robb, group Director at Nationwide, said: "As far as Nationwide is concerned, employing older workers is a good business decision - they tend to be experienced, conscientious and hardworking. The decision should always be whether that person can do the job and has the right values.

"Having a diverse workforce which reflects our customer base makes sound commercial sense and helps Nationwide deliver high standards of service."

Case Study: Joan Bevan

You're only as old as you feel, according to Nationwide employee Joan Bevan, who maintains you should only feel obliged to give up work when you stop enjoying it.

Joan has been working at Nationwide for over 19 years as a personal assistant, and currently looks after a number of senior staff.

When Joan reached retirement age some years ago, she decided to ease herself into it by gradually decreasing her working hours, becoming part time - 25 hours across three days. It wasn't until Joan's manager relocated to work at the then new Bournemouth offices that she decided to take full retirement.

Joan remained retired for two years before receiving a phone call from Nationwide, with an offer for her to return to work. Joan had a strong reputation for fantastic service at Nationwide, and the offer reflects the Society's position as a flexible employer. In 2005, Nationwide became the first major UK company to change its employment rules to enable employees to work until the age of 75, and in 2001 it became one of the first to introduce flexible retirement up to 70.

Joan took up Nationwide's job offer because she enjoyed her time at the UK's biggest building society, and the prospect of returning was hugely appealing since she knew the organisation, how it runs and the systems in place. She said: "I felt I still had something to offer Nationwide and I'm not out of energy yet! I love the buzz of Nationwide and being able to use my brain. The day I wake up and think I don't want to go into work is the day when I'll retire permanently."

As an older worker and a woman, Joan does not feel as though she is treated any differently at work, and although she absolutely values Nationwide's flexibility as an employer, she is equally adamant that she echoes that value by working to exceed expectations and is always willing to put in any extra work.

She said of her job: "I like having the responsibility that I have within my job. My role is more than managing calendars; I often have to be the decision maker for my managers. I also feel incredibly appreciated within my role, I was recently asked whether I could be a PA for someone else as well and I felt that was a huge compliment to me and the work I had been doing."

When it comes to Nationwide, Joan loves how it is a "people company" where everyone is respected and cared for. She admires the culture in place; if anyone requires support, the company is willing to help in any way it can, having a good support network in place. She said that it is "team Nationwide" - everyone being part of a working community.

Joan's advice to people approaching retirement and unsure on whether to continue is that "while you feel able to stay in work and still enjoy what you are doing and want to do it, then don't retire", adding: "The three main important things you should get out of your job are fulfilment, satisfaction and achievement. I think it is also invaluable to get your work/life balance correct, which I think I have managed to successfully do."

Notes to editors:


--  All figures, unless otherwise stated, are from YouGov Plc. Total sample
    size was 2,170 adults. Fieldwork was undertaken between 16/12/2013 -
    18/12/2013. The survey was carried out online. The figures have been
    weighted and are representative of all UK adults (aged 18+).
--  Image of Joan Bevan (case study) available on request

Older Workers at Nationwide:


--  Nationwide's current workforce statistics show that 16 per cent of staff
    are aged 50 or over. Moreover, two per cent of employees are aged 60 or
    beyond
--  Older workers at Nationwide fulfil roles right across the organisation
    including Legal and Compliance, Treasury, Strategy and Planning,
    Marketing, HR and Customer Experience, with the majority in customer
    facing roles within our branches and contact centres
--  The Society was one of the first organisations to introduce flexible
    retirement back in 2001 to allow older employees to work until 70
--  In 2005, Nationwide became the first major UK company to change its
    employment rule to enable employees to work until the age of 75
--  At Nationwide, everybody is entitled to 'stay on' - there are no
    procedures to follow or 'gatekeeping' criteria, with employment
    continuing on the same terms and conditions as before, so benefits such
    as private health insurance and critical illness cover, which some
    companies believe would be too costly to provide to older workers,
    remain
--  The Society has seen a sizeable increase in employees staying on beyond
    65, which resonates with wider UK figures showing that since the start
    of the recession, numbers have increased by 240,000 and since 2001 have
    nearly doubled
--  The primary criteria for selecting candidates at any level within
    Nationwide is based solely on that person's merit, ability and
    experience. Age is not seen as a barrier to employment, just as gender,
    ethnicity, faith and disability are not.

About Nationwide

Nationwide is the UK's largest building society as well as a top-three provider of household savings and mortgages in the UK. It is also a major provider of current accounts, credit cards, ISAs and personal loans. Nationwide has around 15 million retail customers. Customers can manage their finances in a branch, on the telephone, internet and post.

Nationwide's head office is in Swindon, with an office in Threadneedle Street, London, and with administration centres based in Northampton, Bournemouth and Dunfermline. The Society also has a number of call centres across the UK.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Manufacturing connected IoT versions of traditional products requires more than multiple deep technology skills. It also requires a shift in mindset, to realize that connected, sensor-enabled “things” act more like services than what we usually think of as products. In his session at @ThingsExpo, David Friedman, CEO and co-founder of Ayla Networks, will discuss how when sensors start generating detailed real-world data about products and how they’re being used, smart manufacturers can use the ...
To support developers and operations professionals in their push to implement DevOps principles for their infrastructure environments, ProfitBricks, a provider of cloud infrastructure, is adding support for DevOps tools Ansible and Chef. Ansible is a platform for configuring and managing data center infrastructure that combines multi-node software deployment, ad hoc task execution, and configuration management, and is used by DevOps professionals as they use its playbooks functionality to autom...
Skeuomorphism usually means retaining existing design cues in something new that doesn’t actually need them. However, the concept of skeuomorphism can be thought of as relating more broadly to applying existing patterns to new technologies that, in fact, cry out for new approaches. In his session at DevOps Summit, Gordon Haff, Senior Cloud Strategy Marketing and Evangelism Manager at Red Hat, discussed why containers should be paired with new architectural practices such as microservices rathe...
SYS-CON Events announced today that HPM Networks will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. For 20 years, HPM Networks has been integrating technology solutions that solve complex business challenges. HPM Networks has designed solutions for both SMB and enterprise customers throughout the San Francisco Bay Area.
Puppet Labs has announced the next major update to its flagship product: Puppet Enterprise 2015.2. This release includes new features providing DevOps teams with clarity, simplicity and additional management capabilities, including an all-new user interface, an interactive graph for visualizing infrastructure code, a new unified agent and broader infrastructure support.
SYS-CON Events announced today that Pythian, a global IT services company specializing in helping companies leverage disruptive technologies to optimize revenue-generating systems, has been named “Bronze Sponsor” of SYS-CON's 17th Cloud Expo, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Founded in 1997, Pythian is a global IT services company that helps companies compete by adopting disruptive technologies such as cloud, Big Data, advance...
All major researchers estimate there will be tens of billions devices - computers, smartphones, tablets, and sensors - connected to the Internet by 2020. This number will continue to grow at a rapid pace for the next several decades. With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo, November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Learn what is going on, contribute to the discussions, and e...
SYS-CON Events announced today that G2G3 will exhibit at SYS-CON's @DevOpsSummit Silicon Valley, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Based on a collective appreciation for user experience, design, and technology, G2G3 is uniquely qualified and motivated to redefine how organizations and people engage in an increasingly digital world.
In their Live Hack” presentation at 17th Cloud Expo, Stephen Coty and Paul Fletcher, Chief Security Evangelists at Alert Logic, will provide the audience with a chance to see a live demonstration of the common tools cyber attackers use to attack cloud and traditional IT systems. This “Live Hack” uses open source attack tools that are free and available for download by anybody. Attendees will learn where to find and how to operate these tools for the purpose of testing their own IT infrastructu...
DevOps Summit, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long development...
Too often with compelling new technologies market participants become overly enamored with that attractiveness of the technology and neglect underlying business drivers. This tendency, what some call the “newest shiny object syndrome,” is understandable given that virtually all of us are heavily engaged in technology. But it is also mistaken. Without concrete business cases driving its deployment, IoT, like many other technologies before it, will fade into obscurity.
Whether you like it or not, DevOps is on track for a remarkable alliance with security. The SEC didn’t approve the merger. And your boss hasn’t heard anything about it. Yet, this unruly triumvirate will soon dominate and deliver DevSecOps faster, cheaper, better, and on an unprecedented scale. In his session at DevOps Summit, Frank Bunger, VP of Customer Success at ScriptRock, will discuss how this cathartic moment will propel the DevOps movement from such stuff as dreams are made on to a prac...
SYS-CON Events announced today that DataClear Inc. will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. The DataClear ‘BlackBox’ is the only solution that moves your PC, browsing and data out of the United States and away from prying (and spying) eyes. Its solution automatically builds you a clean, on-demand, virus free, new virtual cloud based PC outside of the United States, and wipes it clean...
With the proliferation of connected devices underpinning new Internet of Things systems, Brandon Schulz, Director of Luxoft IoT – Retail, will be looking at the transformation of the retail customer experience in brick and mortar stores in his session at @ThingsExpo. Questions he will address include: Will beacons drop to the wayside like QR codes, or be a proximity-based profit driver? How will the customer experience change in stores of all types when everything can be instrumented and a...
Contrary to mainstream media attention, the multiple possibilities of how consumer IoT will transform our everyday lives aren’t the only angle of this headline-gaining trend. There’s a huge opportunity for “industrial IoT” and “Smart Cities” to impact the world in the same capacity – especially during critical situations. For example, a community water dam that needs to release water can leverage embedded critical communications logic to alert the appropriate individuals, on the right device, as...