Part 3 – ‘How do Mid Life Career Reviews help employers and employees?’
Having explored why Mid-Life Career Reviews are different from your average review, and what they actually are, part 3 outlines the benefits of them to both employers and employees.
The impacts on employers can be summarised as: –
- Developing a true understanding of the needs, interests and aspirations of their employees at mid-life, in order to maximise their skills and talents;
- Higher awareness of the demographic profile of the workforce to better influence their talent planning;
- A catalyst for reviewing and developing current working practices and policies and making improvements to the working environment when it comes to a potentially ageing workforce, e.g. flexibility;
- More confident, motivated and loyal employees who feel valued by the organisation, bringing a boost in morale and productivity;
- Positive PR for both attracting and retaining talented people.
Employees have cited benefits such as: –
- Greater confidence and pride in their own skills, talents and needs;
- More motivation and direction to explore options and make changes in their career, such as apply for new roles, phase into retirement, start a new business or request a change in working pattern;
- Clarity on what new learning or training they needed, and the information and motivation to pursue it;
- Improved work-life balance;
- More able to make educated decisions in areas such as financial planning and retirement planning;
- Confidence to look and apply for jobs, where they are currently unemployed.
As well as the amazing benefits to both employers and employees, the Mid-Life Career Review can aid our economy too. As Aviva’s CEO Andy Briggs, who is also Chair of BITC Age at Work, recently stated; ‘If Britain hires an extra one million older workers in the next five years, GDP could be boosted by an extra £88billion.’
Additionally, there are plenty of talented people who want work; according to last year’s Annual Population Survey, only 70% pf people aged 50-64 are in work compared to 83% of those aged 25-49.
Having this type of review on offer can help ‘older’ workers establish their position and needs in the marketplace as well as build confidence to pursue their desires.
I’m curious; have you experienced these and other benefits? And, what potential blockers do you forsee?
In part 4, find out how you can engage in Mid-Life Career Reviews in your organisation.
This is Part 3 in a four-part series to celebrate Learning at Work Week, 2017 – getting curious and creative about The Mid Life Career Review.
Part 1 – ‘Why bother? Isn’t it just the same as a ‘normal’ review?’
Part 2 – ‘So what is a Mid-Life Career Review?’
Part 4 – ‘How can I engage in Mid Life Career Reviews in my organisation?’
Contact firstname.lastname@example.org 07714 329339 for more info.