Click here to close now.

SYS-CON MEDIA Authors: Liz McMillan, Carmen Gonzalez, Pat Romanski, AppDynamics Blog, Roger Strukhoff

News Feed Item

Older Worker Poll Shows Value of Experience as Money and Pension Worries Keep People in Employment Longer

- 60-plus staff make great role models

LONDON, UNITED KINGDOM -- (Marketwired) -- 02/04/14 -- Working beyond the traditional retirement age is having a positive effect in the British workplace as older people stay on in work because of high living costs and uncertainty about the future, a survey commissioned by Nationwide Building Society shows.

The research gives an insight into why people may be working later in life, with more than two fifths (41%) of workers believing they will not be financially secure in retirement, while nearly three-quarters (74%) were concerned that their pension alone won't be enough for them to continue at their current level of personal spending.

Despite this, more than two thirds of all UK adults (68%) think having a person in a team at work aged over 60 has, or would have, a positive impact. Furthermore, nine out of ten people (88%) believe those aged 60 and above can be excellent mentors or role models to those in their 20s and 30s. The research also shows that while 78% of people polled think that it is important that younger colleagues help those in their 60s to use new technology at work, more than two thirds (71%) believe the introduction of gadgets such as smartphones and tablets has forced those aged 60 and above to keep up with younger peers.

The survey highlights some surprising results regarding sickness records at work, with 45% of workers aged 55 and above having not taken sick leave over the past 12 months, compared to 36% of 18-24 year olds. Just over one in four (26%) of those aged 55 and above have taken up to three days off for illness, compared to 40% of 18-24 year olds. The poll also shows that 35-44 year olds are the age group most likely to take time off work for a hangover (8%), compared to just 1% of those aged 55 and above, and that 70% of those aged 55 and above usually arrive early to work compared to 47% of those aged 25-34 and 50% of those aged 18-24.

Early retirement has become an unlikely prospect for the overwhelming majority, according to the survey, with just 3% of workers believing they will be able to retire at the age of 55. However, some 13% of those polled expect to retire at 60, while 16% expect to retire at 65 and 15% believe they will only be able to give up work aged 70. A further 2% believe they will not be able to retire until after they are 75.

Nationwide was the first major UK organisation in 2005 to change its employment policy to enable employees to work until the age of 75 and, in 2011, the Society removed the retirement age completely. The Society employs around 17,000 people, of which 16% are aged 50 or over, and 2% are aged 60 or above.

Alison Robb, group Director at Nationwide, said: "As far as Nationwide is concerned, employing older workers is a good business decision - they tend to be experienced, conscientious and hardworking. The decision should always be whether that person can do the job and has the right values.

"Having a diverse workforce which reflects our customer base makes sound commercial sense and helps Nationwide deliver high standards of service."

Case Study: Joan Bevan

You're only as old as you feel, according to Nationwide employee Joan Bevan, who maintains you should only feel obliged to give up work when you stop enjoying it.

Joan has been working at Nationwide for over 19 years as a personal assistant, and currently looks after a number of senior staff.

When Joan reached retirement age some years ago, she decided to ease herself into it by gradually decreasing her working hours, becoming part time - 25 hours across three days. It wasn't until Joan's manager relocated to work at the then new Bournemouth offices that she decided to take full retirement.

Joan remained retired for two years before receiving a phone call from Nationwide, with an offer for her to return to work. Joan had a strong reputation for fantastic service at Nationwide, and the offer reflects the Society's position as a flexible employer. In 2005, Nationwide became the first major UK company to change its employment rules to enable employees to work until the age of 75, and in 2001 it became one of the first to introduce flexible retirement up to 70.

Joan took up Nationwide's job offer because she enjoyed her time at the UK's biggest building society, and the prospect of returning was hugely appealing since she knew the organisation, how it runs and the systems in place. She said: "I felt I still had something to offer Nationwide and I'm not out of energy yet! I love the buzz of Nationwide and being able to use my brain. The day I wake up and think I don't want to go into work is the day when I'll retire permanently."

As an older worker and a woman, Joan does not feel as though she is treated any differently at work, and although she absolutely values Nationwide's flexibility as an employer, she is equally adamant that she echoes that value by working to exceed expectations and is always willing to put in any extra work.

She said of her job: "I like having the responsibility that I have within my job. My role is more than managing calendars; I often have to be the decision maker for my managers. I also feel incredibly appreciated within my role, I was recently asked whether I could be a PA for someone else as well and I felt that was a huge compliment to me and the work I had been doing."

When it comes to Nationwide, Joan loves how it is a "people company" where everyone is respected and cared for. She admires the culture in place; if anyone requires support, the company is willing to help in any way it can, having a good support network in place. She said that it is "team Nationwide" - everyone being part of a working community.

Joan's advice to people approaching retirement and unsure on whether to continue is that "while you feel able to stay in work and still enjoy what you are doing and want to do it, then don't retire", adding: "The three main important things you should get out of your job are fulfilment, satisfaction and achievement. I think it is also invaluable to get your work/life balance correct, which I think I have managed to successfully do."

Notes to editors:


--  All figures, unless otherwise stated, are from YouGov Plc. Total sample
    size was 2,170 adults. Fieldwork was undertaken between 16/12/2013 -
    18/12/2013. The survey was carried out online. The figures have been
    weighted and are representative of all UK adults (aged 18+).
--  Image of Joan Bevan (case study) available on request

Older Workers at Nationwide:


--  Nationwide's current workforce statistics show that 16 per cent of staff
    are aged 50 or over. Moreover, two per cent of employees are aged 60 or
    beyond
--  Older workers at Nationwide fulfil roles right across the organisation
    including Legal and Compliance, Treasury, Strategy and Planning,
    Marketing, HR and Customer Experience, with the majority in customer
    facing roles within our branches and contact centres
--  The Society was one of the first organisations to introduce flexible
    retirement back in 2001 to allow older employees to work until 70
--  In 2005, Nationwide became the first major UK company to change its
    employment rule to enable employees to work until the age of 75
--  At Nationwide, everybody is entitled to 'stay on' - there are no
    procedures to follow or 'gatekeeping' criteria, with employment
    continuing on the same terms and conditions as before, so benefits such
    as private health insurance and critical illness cover, which some
    companies believe would be too costly to provide to older workers,
    remain
--  The Society has seen a sizeable increase in employees staying on beyond
    65, which resonates with wider UK figures showing that since the start
    of the recession, numbers have increased by 240,000 and since 2001 have
    nearly doubled
--  The primary criteria for selecting candidates at any level within
    Nationwide is based solely on that person's merit, ability and
    experience. Age is not seen as a barrier to employment, just as gender,
    ethnicity, faith and disability are not.

About Nationwide

Nationwide is the UK's largest building society as well as a top-three provider of household savings and mortgages in the UK. It is also a major provider of current accounts, credit cards, ISAs and personal loans. Nationwide has around 15 million retail customers. Customers can manage their finances in a branch, on the telephone, internet and post.

Nationwide's head office is in Swindon, with an office in Threadneedle Street, London, and with administration centres based in Northampton, Bournemouth and Dunfermline. The Society also has a number of call centres across the UK.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
There is no question that the cloud is where businesses want to host data. Until recently hypervisor virtualization was the most widely used method in cloud computing. Recently virtual containers have been gaining in popularity, and for good reason. In the debate between virtual machines and containers, the latter have been seen as the new kid on the block – and like other emerging technology have had some initial shortcomings. However, the container space has evolved drastically since coming on...
Mobile commerce traffic is surpassing desktop, yet less than 20% of sales in the U.S. are mobile commerce sales. In his session at 15th Cloud Expo, Dan Franklin, Segment Manager, Commerce, at Verizon Digital Media Services, defined mobile devices and discussed how next generation means simplification. It means taking your digital content and turning it into instantly gratifying experiences.
Enterprises are fast realizing the importance of integrating SaaS/Cloud applications, API and on-premises data and processes, to unleash hidden value. This webinar explores how managers can use a Microservice-centric approach to aggressively tackle the unexpected new integration challenges posed by proliferation of cloud, mobile, social and big data projects. Industry analyst and SOA expert Jason Bloomberg will strip away the hype from microservices, and clearly identify their advantages and d...
Container frameworks, such as Docker, provide a variety of benefits, including density of deployment across infrastructure, convenience for application developers to push updates with low operational hand-holding, and a fairly well-defined deployment workflow that can be orchestrated. Container frameworks also enable a DevOps approach to application development by cleanly separating concerns between operations and development teams. But running multi-container, multi-server apps with containers ...
Software Development Solution category in The 2015 American Business Awards, and will ultimately be a Gold, Silver, or Bronze Stevie® Award winner in the program. More than 3,300 nominations from organizations of all sizes and in virtually every industry were submitted this year for consideration. "We are honored to be recognized as a leader in the software development industry by the Stevie Awards judges," said Steve Brodie, CEO of Electric Cloud. "We introduced ElectricFlow and our Deploy app...
What do a firewall and a fortress have in common? They are no longer strong enough to protect the valuables housed inside. Like the walls of an old fortress, the cracks in the firewall are allowing the bad guys to slip in - unannounced and unnoticed. By the time these thieves get in, the damage is already done and the network is already compromised. Intellectual property is easily slipped out the back door leaving no trace of forced entry. If we want to reign in on these cybercriminals, it's hig...
SYS-CON Events announced today that DragonGlass, an enterprise search platform, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. After eleven years of designing and building custom applications, OpenCrowd has launched DragonGlass, a cloud-based platform that enables the development of search-based applications. These are a new breed of applications that utilize a search index as their backbone for data...
Converging digital disruptions is creating a major sea change - Cisco calls this the Internet of Everything (IoE). IoE is the network connection of People, Process, Data and Things, fueled by Cloud, Mobile, Social, Analytics and Security, and it represents a $19Trillion value-at-stake over the next 10 years. In her keynote at @ThingsExpo, Manjula Talreja, VP of Cisco Consulting Services, will discuss IoE and the enormous opportunities it provides to public and private firms alike. She will shar...
The time is ripe for high speed resilient software defined storage solutions with unlimited scalability. ISS has been working with the leading open source projects and developed a commercial high performance solution that is able to grow forever without performance limitations. In his session at DevOps Summit, Alex Gorbachev, President of Intelligent Systems Services Inc., will share foundation principles of Ceph architecture, as well as the design to deliver this storage to traditional SAN st...
In their general session at 16th Cloud Expo, Michael Piccininni, Global Account Manager – Cloud SP at EMC Corporation, and Mike Dietze, Regional Director at Windstream Hosted Solutions, will review next generation cloud services, including the Windstream-EMC Tier Storage solutions, and discuss how to increase efficiencies, improve service delivery and enhance corporate cloud solution development. Speaker Bios Michael Piccininni is Global Account Manager – Cloud SP at EMC Corporation. He has b...
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo in Silicon Valley. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading in...
Why does developer experience matters, what makes for a great developer experience and what is the relationship between developer experience and the broader field of user experience? Software developers are gaining more influence over the purchase decisions of technologies with which they must build on and with which they must integrate. For example, the success of Amazon Web Services, Heroku and MongoDB has been driven primarily by individual software developers choosing to use these tools, ra...
Software Defined Storage provides many benefits for customers including agility, flexibility, faster adoption of new technology and cost effectiveness. However, for IT organizations it can be challenging and complex to build your Enterprise Grade Storage from software. In his session at Cloud Expo, Paul Turner, CMO at Cloudian, looked at the new Original Design Manufacturer (ODM) market and how it is changing the storage world. Now Software Defined Storage companies can build Enterprise grade ...
SYS-CON Events announced today that EnterpriseDB (EDB), the leading worldwide provider of enterprise-class Postgres products and database compatibility solutions, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. EDB is the largest provider of Postgres software and services that provides enterprise-class performance and scalability and the open source freedom to divert budget from more costly traditiona...
Fundamentally, SDN is still mostly about network plumbing. While plumbing may be useful to tinker with, what you can do with your plumbing is far more intriguing. A rigid interpretation of SDN confines it to Layers 2 and 3, and that's reasonable. But SDN opens opportunities for novel constructions in Layers 4 to 7 that solve real operational problems in data centers. "Data center," in fact, might become anachronistic - data is everywhere, constantly on the move, seemingly always overflowing. Net...