One-fifth or 18 per cent of older workers don’t feel valued, according to Canada Life.
According to Canada Life research, 28 per cent of workers aged 55 and older think they have fewer opportunities to advance in their careers.
Only 25 per cent of firms, or one in four, have implemented policies explicitly designed to accommodate older workers as of yet. About 77 per cent of older workers—who were asked what was crucial to their assistance in the workplace—said proper workplace perks.
Canada Life protection sales director Dan Crook says: “The cost-of-living crisis is putting significant pressures on household finances. Not only is it forcing the older generation to continue working for longer, but in some instances is causing people to do a U-turn on their retirement plans and re-enter the workforce.
“The workplace should be an inclusive environment for people of all ages, and employers need to recognise the different measures and practices required for different employee demands. However, our research highlights that there is still a large number of employers who are yet to introduce policies aimed at supporting the older workforce.
“Looking ahead, employee attraction and retention will be vital. Benefits such as group life, group income protection, group critical illness cover, and support services, are called out as examples by employees to help recruitment and retention of a diverse workforce, where everyone feels valued.”