Younger workers fear older colleagues ‘stifle’ their careers

Jo Faragher

Younger workers fear that their older colleagues could stifle their career prospects by retiring later, according to a survey by consulting firm KPMG.

These workers feel that the longer so-called ‘baby boomers’ and Generation X staff remain in the workforce, the worse it will be for productivity. Almost half (46%) believe that older staff members ought to retire so that younger workers have a better chance of career progression.

Recent labour market figures from the Office for National Statistics show that the number of over-65s in the workforce is now more than a million. According to KPMG’s survey, just 20% of respondents believe that employers will want to retain older workers to learn from their experience.

However, there is also a growing acceptance among younger employees that they may have to work longer than in previous generations. Most respondents agreed that insufficient pensions provision would mean more people will end their lives in poverty. Some two-thirds believe that – thanks to rising long-term case costs draining their retirement funds – people will be forced to work until they die. 

Robert Bolton, partner and co-lead of KPMG’s HR global centre of excellence, believes the employers that succeed will be those that can take advantage of older workers’ skills and experience.

“As people remain in the workplace for longer, older workers will inevitably constitute a larger proportion of the workforce. Although this may breed the pernicious perception that the younger generation will lose out, this does not have to be the case. Far from it – an older workforce brings a wealth of experience and baby boomers can potentially adopt the invaluable role of coach or mentor to those entering the workplace,” he said.

There is also a marked difference in attitudes to work between older and younger employees – older, ‘baby boomer’ workers are more likely to strive to earn more, while the majority of Generation Y respondents (58%) said they would be content earning ‘enough’. The ethical credentials of an employer also matter more to younger generations, with 55% of Generation Y saying that this would influence their choice of employer, compared to 45% of Generation X.

Both younger and older workers embrace flexibility in the workplace, however, with two thirds saying the option to work beyond the narrow nine-to-five boundaries drives their choice of employer.