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As we go through the biggest demographic change of our times, recent global events and macroeconomic consequences have conspired to create a perfect storm.
The pandemic, which prompted “The Great Resignation,” sent a wave of the workforce into early retirement, and has left a vast skills, knowledge, and experience gap in its wake. Organisations that have continued to source through their usual channels have vacancies to fill and no solution to the talent war.
We are facing a radically different recruitment landscape in which the winners will be those that adapt fastest and place age at the heart of their growth ambitions.
Traditionally, recruitment practices focused on hiring the next generations. With an ageing population and lowered birth rates predicted by 2050, that candidate pool is shrinking fast.
In the last century, 30 healthy years have been added to life expectancy. Being aged 50+ is no longer the tipping point to retirement – it is the new midlife. Contrary to stereotypes, these over-50s are generally healthy, productive, motivated and have the skills, knowledge and experience employers are most at risk of losing. Moreover, due to sharp cost of living increases or a realisation that retirement isn’t all it’s cracked up to be, many early retirees are revising their plans and want to go back to work and contribute. So, what’s stopping them?
The over-50s are shut out, forced out and overlooked in the workplace not because older workers can’t do the job but because of how they are perceived, in part because age has been largely ignored as an ED&I characteristic.
With the cost-of-living crisis many who want to return to work are finding barriers to re-entry, at a time when they are most needed. Indeed, research published by 55/Redefined shows that the relationship between the UK’s over-50s and work is broken.
Lyndsey Simpson founded 55/Redefined to provide consultancy and age-inclusive accreditation to businesses that want to retain their competitive edge, drive change, and create a workforce for the future. In a recent interview with Sir Richard Branson, he proclaimed to Founder and CEO Lyndsey that he really didn’t think age was relevant, having started several businesses in his 70s. It’s time recruiters and employers woke up to the business and social benefits of the intergenerational workplace. It’s time to engage with age and, in doing so, future proof your workforce.
“If your business doesn’t have an Age Strategy, it doesn’t have a Growth Strategy.” Lyndsey Simpson, Founder & CEO, 55/Redefined
Page Resourcing specialises in both permanent and temporary outsource recruitment. Olly explains: “Rather than a company looking to recruit for an individual job, they outsource their whole recruitment function to us. Outsourcing recruitment can deliver faster, higher quality recruitment, that is more cost effective.” It’s a concept that is paying dividends – Page Resourcing is one of the fastest growing of all Page Group’s brands.
Equality, Diversity and Inclusion (ED&I) is core to their business. “Firstly, as an employer, it’s quite simply the right thing to do,” says Olly. “Every single one of our employees goes through onboarding with a particular focus on the ED&I lens. It’s a big part of us as a business. Secondly, it’s what our clients are screaming out for – they want their employees to reflect their customers. They want to be authentic around ED&I.”
Olly is proud that Page Resourcing has worked hard on the more familiar strands of ED&I, such as gender, race, physical ability, sexual orientation, and religion. But he recognises there is always more that can be done when it comes to diversity of age. That’s why they have partnered with 55/Redefined.
“An ageing population and a shrinking workforce led to a talent shortage – and that restricts business growth. Now is the time to utilise this highly experienced, untapped talent pool of the over-50s” Olly Harris, Global Managing Director of Page Resourcing.
Page Resourcing wants to do it right – improve education about the over-50s and reduce unconscious bias. “Over-50s workers have been overlooked in the past. We’re embarking on using a pool of talent that people aren’t used to,” says Olly.
“We will have to hold some clients’ hands through this process because there might be some misunderstandings when it comes to older workers,” Olly explains. “For example, ‘Do they need more time off for medical reasons?’”
Research by 55/Redefined has shattered this myth – an over-50s worker is 200% less likely to take a day off work sick than a worker under the age of 30. “We have to help our clients overcome these sorts of misconceptions,” says Olly.
One of the ways 55/Redefined is helping Page Resourcing is to ensure they have the right training, processes and policies in place when it comes to working with the over-50s. With Age Inclusive Accreditation, they join Boots, Dentsu and Capgemini by becoming an age diverse employer of choice.
But it won’t stop there. Olly is planning to do so much more. “This age group of workers has been overlooked in the past. It requires companies like 55/Redefined and us to be shouting even louder and leading the way with impactful thought leadership, best practice and solutions. We must adapt to the modern world of working.
“Our clients will be excited for us to challenge the status quo and help them tap these phenomenal older workers. It’s what Page Resourcing does best – sourcing the right candidates in unique talent pools.”
55/Redefined is delighted to have Page Resourcing join them in the drive for Age Inclusivity. “Ageism in the workplace is not an ‘older’ issue,” says 55/Redefined’s founder Lyndsey. “It is an everyone issue. It does not make economic, business, or logical sense to ignore the potential of older workers to be the solution to the UK’s significant talent shortage.”
The over-50s are furiously telling employers, ‘It’s not us, it’s you!’ And they are right. Now more than ever, it's crucial that employers tune into the needs and aspirations of the over-50s talent pool. By doing so, they will not only be doing what is morally right but will be stealing a march on the competition.
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