Retirement? FE is the key to career rejuvenation

With the UK facing the cost pressures of an ageing population, today’s employees face working longer – and that’s where colleges come in, says Mark Malcomson
26th May 2017, 12:00am
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Retirement? FE is the key to career rejuvenation

https://www.tes.com/magazine/archived/retirement-fe-key-career-rejuvenation

The working world has changed considerably in the past decade. The rapid pace of change in terms of technology and automation, flexible working patterns, the rise of the “gig” economy, the UK’s changing demographic profile and the potential effects of Brexit mean we have entered a time of great transformation in the nature of work.

We can no longer expect any job, or even career, to last a lifetime. London Business School professors Lynda Gratton and Andrew Scott explore this issue in their excellent book The 100-Year Life: living and working in an age of longevity. They argue that we all need to embrace new ways of living, working and learning throughout our lives, as the traditional perception of a simple three-stage life based on “education, career, retirement” breaks down.

At City Lit, we are already seeing a profound shift in attitudes towards changing career in mid-stream, mental and physical wellbeing as people age, and the concept of “retirement”. Changes are coming in myriad ways.

Firstly, the UK population is ageing, and we will all need to work longer. By 2020, the number of people aged over 65 is expected to increase by 12 per cent, or 1.1 million people. This means that adult education and lifelong learning have a huge role to play in keeping individuals skilled for life.

The historic idea of “the day I retire” has already eroded and it will continue to do so as people “phase” out of the job market over time rather than have a hard stop.

Research from the Skills Commission suggests that older workers represent the single largest pool of untapped potential in this country. Its studies indicate that keeping every UK worker economically active for just one year longer could add as much as £17 billion to UK GDP.

Focus on wellbeing

Colleges like City Lit, therefore, have a huge role to play in opening up opportunities for career rejuvenation in later life. The opportunity to upskill should be available not just to older workers, but also to workers at all stages of their careers. This is not just a “nice to have” policy but an economic necessity driven by whole professions and careers disappearing. (Anyone remember travel agents?)

Alongside this, research suggests that nearly half of workers (47 per cent) desire a career change at some point during their lives. Keeping employees agile with innovative retraining schemes is not only desirable, it also helps to boost productivity and staff loyalty.

We live in a digital age. Hot-desking, remote working and video-conferencing are growing in popularity. This means that all workers need to be increasingly technologically savvy in order to adapt.

The government estimates that 12.6 million of the UK adult population lack basic digital skills. The recent launch of the government’s Digital Strategy is a step in the right direction. City Lit welcomes the suggestions put forward, although with a general election on the horizon, uncertainty remains about future investment in this area.

There is also a compelling business case for employers to commit to upskilling - as outlined in the government’s recent Industrial Strategy. The charity Business in the Community suggests that the UK is facing a dramatic skills gap of 7.5 million people by 2022. If current trends continue, 12.5 million people will retire by 2022 and a further 2 million new jobs will be created, but only 7 million young people will enter the workforce. This skills gap will need addressing.

The Chartered Institute of Personnel and Development also recently revealed that the average cost of recruiting and training a new member of staff stands at around £6,000. Getting an existing worker enrolled on a short adult education course costs a fraction of that price and can help to close this predicted skills gap.

Considering all this, might there be an opportunity to reconsider the need for people to “own” the investment in their own reskilling as a potential way to support lifelong learning? I recognise, of course, that the previous system, introduced under the Labour government in 2001, had very significant problems but the policy principle may well support many aspirations for improving skills, lifelong employability and learning.

Enhancing “mental wealth” is also central to City Lit’s offering to Londoners, and we believe this provision remains hugely important when keeping that “100-year life” mantra in mind. Whether it’s yoga, dance, meditation or mindfulness, we have a broad spectrum of classes to help Londoners find that precious space in their week to enrich their mental wellbeing.

Finally, with a defining general election taking place within weeks, and lengthy negotiations with the European Union later this year, the next decade is going to be a step into the unknown for everyone. An uncertain political climate, combined with the ongoing technological and social revolution in the workplace, mean the next 10 years and beyond promise to throw up both uncertainty and opportunity.

Here at City Lit, we believe lifelong learning can help our students to remain resilient - and relevant - in the modern working world.


Mark Malcomson is principal and CEO of City Lit, an adult education college in London. He tweets @MARKMALCOMSON

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