When the Default Retirement Age was scrapped in 2011, many employers looked forward to the benefits of keeping older employees in the workplace, such as retaining experience and knowledge in the business.
A recent study produced by GRiD has suggested that a third of employers have seen the average age of their work force grow over the past year. Of the 500 UK employers surveyed, 17% stated that diversity had increased and 22% felt that older employees were more likely to be loyal to the company.
However the study also showed that, that while employers have reaped these benefits, over a quarter (27%) have seen an increase in absence rates or age-related health conditions. Nonetheless, not all employers appear to be put off by this, as 59% of those surveyed felt that they were more likely to recruit employees aged 50 and over as a result of the removal of the default retirement age.