Employers must start to design and implement radical new policies and practices if they want to generate real business benefits from the “demographic timebomb”, according to mature age-group advisors In My Prime.

It says there needs to be a greater emphasis on flexibility and planningfor the longer term, focusing on regular career review and appraisal processes and the identification of each individual’s needs and aspirations in terms of current and future health, wealth and time issues.

Individual life planning and counselling from an early age, and the introduction of flexible and contract working arrangements, including support and information about alternative working options such as self-employment, should also be provided. Issues concerning each individual’s work-life balance should be addressed openly and positively. Re-training and mentoring schemes that enable the transfer of accumulated experience should also be encouraged.

Richard Ciechan, in my prime managing director, says: “A more radical, strategic and far-sighted approach is required to ensure that in future firms have engaged, healthy and productive mature workers who are able to fulfil their individual aspirations in respect of their final working years while remaining loyal, reliable and committed employees.”