As the UK population ages, employers must act to keep their workforce healthy
Employers are unprepared for the potential costs that could result from ageing workforces, according to the conclusions of a debate, Working Britain: 2020 Vision, hosted by BUPA at the Royal College of Physicians in London.
The debate, which discussed whether Britain is on track to meet the predicted challenges of its workforce in 2020, concluded that employers will be forced to become more flexible, providing staff with healthcare and childcare benefits as part of their employee benefit packages.
Changing demographics, an ageing population, increased life expectancy and economic pressures mean people will be forced to work into later life. However, according to the debate, disease patterns and workplace stress mean many may be unable to do so unless precautions are put in place to keep workforces healthy.
Speaking at the debate, Dr Natalie-Jane Macdonald, medical director of BUPA membership, said that ensuring the health of an older workforce will be as important as other key business indicators, stressing that healthcare will no longer be a luxury ' it will be essential.
'The increased demands placed on health as a result of an older population and higher expectations will come at a time when the workforce ' those paying tax ' is decreasing. This will impact on the central resources available to fund health, potentially placing more responsibility with individuals and companies.
'I predict that good health will become as important as qualifications. We will move from job security to health security ' making good health increasingly good business,' she said.
The main issues debated were discussed with relation to the fact that people are living longer, yet are still retiring at 65. When asked whether the retirement age should be abolished, the panel and audience overwhelmingly voted 'yes.'
With more people expected to work to an older age, Macdonald said companies will have to invest more in employees' health and employees will view benefits such as private medical insurance as increasingly valuable.
'By 2020, employees will want more control over their health. This needs to be considered by employers when putting together their employee benefit packages. For employers, good health will be just as important as a diploma on a CV. Employees of the future will not feel secure in their job unless they feel secure in their health,' she said.
However, other members of the panel and audience pointed out that the cost of staff retention will be a growing concern for many companies who offer employee benefits such as private health care to an ageing workforce.
