More than four in ten (42%) respondents view flexible working as the most important benefit for supporting an older workforce, according to research by Canada Life Group Insurance.
Its survey of 855 UK employees also found that 32% of respondents view critical illness cover as the most important benefit when working past 65-years-old.
The research also found:
- 29% of respondents cite life insurance as the most important benefit for staff working past the age of 65, and 24% name income protection as the most important benefit.
- 10% of respondents think employee benefits are key to supporting an older workforce, 11% name employee support programmes, and 21% think access to more part-time opportunities is key to supporting older staff.
- More than a quarter (28%) of respondents currently do not receive any workplace benefits.
- 23% of respondents over the age of 60 believe being incentivised to retire by employers is a key issue arising from employees remaining in work for longer, compared to 12% of respondents aged 18-30.
Paul Avis (pictured), marketing director at Canada Life Group, said: “People’s needs and priorities change over the course of their lifetime, so to keep the best staff employers need to offer a range of benefits that will appeal to the full cross-section of their employees.
“As the UK workforce moves towards a new normal in terms of multi-generational working, and economic prospects improve, it will be [organisations] with the foresight to embrace the change and adapt to it now who will benefit the most.”