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Workstyle Freestyle 014 - 'Older Workers'

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Hello Hoxbies! Welcome to Workstyle Freestyle. With me, Alex Hirst. And with me, Lizzie Penny. What are we talking about today, Alex? This week, we are talking about older workers. A cause very close to our hearts. You're only as old as you feel. You are, and today I feel old - big weekend. Anyway! In 2050, I will be over the age of 60, believe it or not, and I will be among 2 billion people on the planet that are predicted to be over 60 by 2050. That's compared to just the 900 million in 2015. So it just goes to show that there are going to be a lot of us in that bracket, and that we need to be thinking about what that means for the future of work, and for us, within it. And what it means for people now, who are already aged over 65 or over aged 50 and being discriminated against. Couldn't agree more. It's not all about you, Alex! It's not about me, it's not about me.. But hopefully, a bit of perspective for everyone... I think what's really interesting about this group is, There are three things that we are think are really, really important for these individuals, as you get older, and they can be at risk, particularly after people retire, particularly because at the moment, the way we work in the UK and around the world, is that you get to 65 or so, and at that point, you retire. So it's binary. You go from working, to not working. And that creates problems in three ways: 1. Health & Wellbeing, 2. Financial Stability 3. Social Connection So, those are all... - Nice one, I like that. Those are all things that a staged retirement, or working on your terms, can make a massive difference to. So from a health and wellbeing perspective, unbelievably, There is around 10% reduced risk of dying simply by working in some form, for a year longer. One year longer - so one year beyond a normal retirement. - Yep. That's astounding. Unbelievable. - I'm definitely working a year longer. You're working for many more years, I'm not letting you retire. But also, you reduce your risk of dementia by working longer as well. So it's great for your brain development. As Alex said, it is an aging population. 26% of the population will be over 65 by the year 2041. Which is rising from 18% currently. Financial stability: It's estimated that people need £260,000 to retire without money worries now. That is a hell of a lot of money, who is retiring with that? So, being able to continue to earn some income makes a massive difference to people. And also, social connection is really, really important. So we think that being able to work longer and be able to access work is so important. And aside from that, for business, it makes so much sense. There is this incredibly rich wealth of talent - Sorry, Alex.. No don't worry. I was just going to say I would like to think that me, with even more experience, would still have some value to add to the world of business. You know, even beyond typical retirement age. We know people that are working age 90 plus, that are still absolutely incredible at what they do. It's about the wealth of experience, but it's also about being passionate about what they do, and be able to build on all that experience, and mentor younger people as well, there are so many different reasons - continuity of workforce as well, succession planning, staged retirement, grandparental leave... Anyway. There are a whole host of solutions that we need to implement to this But most importantly.... Quite right: work without bias. The Hoxby Collective is designed to be a place for everyone, to work without bias. Older workers: come sign up, join us. If this is a cause that's close to your heart, you must check out our lean canvas, which is available online. We'll share the link with you guys. And share it with anyone else who you think would be interested in seeing how we're looking to support the needs of older workers and support businesses in getting the benefits from the older workforce. Thanks for tuning in, see you next time. See you next time. Bye!

Video Details

Duration: 5 minutes and 17 seconds
Language: English
License: Dotsub - Standard License
Genre: None
Views: 0
Posted by: jeslee on Apr 26, 2019

Hoxby Co-Founders Lizzie and Alex talk about the issues facing older workers and explain why fixing it is all part of our mission to create a world of #workwithoutbias

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