Are you ready for your midlife MOT?
Should we all be having a midlife MOT? Age is set to become one of the biggest debates of the next decades – by 2045 nearly 25% of the population will be 65 or over. The Midlife Review reveals how we can transform the workplace to solve the growing issues employees, employers and the government are facing.
Midlife Review: A guide to work, wealth and wellbeing is a new book from authors Steve Butler, CEO at Punter Southall Aspire and writer Tony Watts OBE, offering business leaders, managers and employees guidance to help them understand and support ‘midlife’ workers.
By 2025, there will be one million more people 50 and over and 300,000 fewer people 30 and under in the workplace. One in three of the working age population will be 50 or over*. This presents opportunities and challenges for employees and employers as they navigate the changing demographic landscape.
Uniting current research with interviews from experts in their field, the book looks at the impact of an ageing population on the workforce, and focuses on employees in the middle of their career. It considers both perspectives, suggesting practical ways in which SMEs (Small, Medium Sized Enterprises) can retain skills and experience in their business, and explaining to employees what they need to think about to make the most of their next career stage.
Steve Butler explains “As our ‘working life’ is stretching out as life expectancy rises and pension provision becomes less generous, traditional career structures are fast becoming a thing of the past. For some, this provides opportunity for a richer, more fulfilling life. For others, it means juggling work with care responsibilities.The prospect of working for fifty to sixty years will make it more difficult to stay on one career trajectory and it is only natural that people will want to stop, re-evaluate, and take time out to pursue other interests or explore other avenues. But this throws up challenges. How will people negotiate changes with their employer or go about finding a new job after retraining in their forties or fifties, and how are they going to finance the years ahead if they are going to work less, retrain or return to study? At the same time, employers will need to prepare for an exodus of talent and experience, just as the pipeline of younger people coming through dwindles, and decide if recruitment strategies should change if it becomes normal for people in their forties and fifties to temporarily ‘drop out’, wind down or retrain”
This book addresses these questions and issues from the perspective of both employee and employer, and uses the concept of a ‘Midlife Review’ or Midlife MOT as the conscious mechanism to stimulate a conversation between employers and their personnel to find flexible ‘win-win’ solutions.
The ultimate guide to work, wealth and wellbeing for employees.
The first section of the books arms midlife employees with the tools they need to place for a fulfilled, comfortable and healthy future. Expertly guiding readers through a ‘midlife MOT’ it helps readers assess their current situation and needs. It then revealed simple ways to improve the mental and physical wellbeing, expert advice on boosting and safeguarding your pension pot; and a myriad of retirement alternatives enabling you to grow and develop your career.
Transforming the workplace, boosting age diversity and solving the skills gap.
The second section of the book sets out how, as the UK age demographic shifts, companies can transform into age-friendly organisations that successfully retain over 50s talent — a key way to solve the skills gap. The book explores how companies can accommodate midlife employees changing requirements — from needing to care for elderly relatives to wanting the travel more. Peppered with case studies from Aviva to Legal&byGeneral and underpinned by in-depth research, it presents a myriad of ways to ensure work works for mid lifers as well as millennials.
Tony Watts says, “For many, greater longevity and better health in later life opens up panoply of new and exciting opportunities. But the issue facing large numbers of people in midlife is some don’t want to stop work because they enjoy it, and others can’t afford to stop. The twin drivers for individuals – choice and necessity – are also coinciding with several imperatives for business and the state. Employers need the expertise, energy and experience of older people because fewer young people are entering the workforce and the state can’t support an ever-burgeoning retired population. Simply expressed, UK plc cannot afford to let older people head for the golf course and drive off into the sunset. The Midlife Review can play a big part in preventing this.”
Where to buy it
The Midlife Review; A guide to Work, Wealth and Wellbeing is published by ReThink Press and available in print and ebook from Amazon
About the Authors
Steve Butler, CEO at Punter Southall Aspire, is a Chartered Manager and Fellow of the Chartered Management Institute. He gained his Master’s in Business Administration from Southampton, Solent University and is currently researching for his Doctorate in Business Administration at Winchester University, Centre for Responsible Management. He is a regular writer and speaker on intergenerational working, retirement and older worker business management issues.
Tony Watts OBE Tony is a freelance writer, journalist and commentator who has spent over thirty years writing about later life issues as well as a range of business topics. He helped set up the UK’s first national newspaper for older people and has written a number of books on the subject. In his voluntary time, he represents older people and campaigns on their behalf. He was awarded an OBE in 2014 for his work on behalf of older people.