Despite firms of all sizes expecting a fall in the numbers of younger workers, three-quarters of small businesses have yet to provide procedures which will allow their employees to work beyond the age of 65.
The research from Lloyds TSB Business and the Open University’s SERTeam found that since the introduction of the age discrimination legislation last October, only 25 per cent of small firms had put in place the ‘right to request’ rules which make it possible for staff to work beyond the state retirement age.
Almost half – 45 per cent – had not decided whether they would implement the new procedures while 28 per cent said they intended to do so.
Although 49 per cent of employers didn’t believe the regulations would have a significant impact, reasons cited for not implementing the rules include:
- Red tape – 40 per cent
- Rising costs – 21 per cent
When asked how they would treat requests from employees to work beyond the age of 65, 57 per cent said they would do so favourably with just 7 per cent saying they would not be inclined to honour such requests.
