Why Flexible Work is the Surprising Secret to Skyrocketing Job Satisfaction for Over-50s—And What Employers Need to Know Now

Ever thought about what would happen if the golden generation of workers—those seasoned pros aged 55 and up—decided enough was enough just because they couldn’t tweak their schedules? Turns out, more than a third of them are teetering on the edge, ready to walk if flexible hours vanish. And get this: nearly a quarter would take a pay cut just to snag more freedom in their workday. Now, that’s a heck of a trade-off to ignore. This isn’t just about comfort or convenience—it’s about holding onto hard-earned experience that’s slipping away at an alarming rate. When industries critical to the UK’s future shed 440,000 skilled over-50s each year due to rigid work setups, it’s a wake-up call. The cost? A staggering £31 billion annually in lost output. The question is, can businesses really afford to keep ignoring the power of flexible working, or are we gearing up for an exodus that could gut our economy? It’s time to rethink work—because keeping talent isn’t just smart, it’s essential. LEARN MORE

More than a third of workers aged 55 and over will consider leaving their jobs if their employer restricts the ability to work flexible hours, according to a major survey, writes David Connett.

Nearly a quarter of older workers would take a pay cut in exchange for greater flexibility in their work.

The research, based on a survey of 4,000 UK adults, highlights the critical role that flexible working plays in job satisfaction and retention.

It estimates firms in key industrial sectors lose 440,000 workers over 50 each year through early exit, often for reasons that could be supported by better flexible working.

A study, carried out by the thinktank Standard Life Centre for the Future of Retirement, said expanded flexible options to help keep over-50 workers in employment for longer would save millions of pounds by reducing UK economic inactivity levels.

Researchers found 37 per cent of workers over 55 would consider leaving their jobs if their ability to work flexibly was significantly reduced.

Separate research by the think tank found that sectors key to delivering the Government’s industrial strategy are reliant on workers over 50.

But they lose 440,000 of this age group each year through early exits, often due to factors that could be supported by better flexible work, it said.

Currently, more than 3.4 million workers in the UK aged 50 and over are employed in these strategic sectors – including 450,000 aged over 65.

The report warns that the workforce of these industries, from advanced manufacturing to life sciences, are ageing faster than the wider economy.

The premature loss of experienced over-50s is estimated to cost the UK economy £31bn a year in lost output.

Patrick Thompson, head of research analysis at the centre, said: “Flexible work can be the difference between retaining skilled employees or seeing them leave. It can help many workers in their fifties and sixties to balance work with factors such as health or caring responsibilities.

“To drive growth, we can’t afford to lose their experience.

“As people live for longer, it’s important that employers and policymakers continue to make it easier for people to work for as long as they want or need to, so they can save enough for a good quality retirement.”

“Backing older workers isn’t just right to do – it’s smart economics.”

The report calls for more flexible working options and better job design to “support longer, more fulfilling working lives”.