Employability for the over-50s
ReStart is Allen & Overy’s employability programme to help people over the age of 50 return to work.
ReStart targets over-50s living in London who have been unemployed for between six months and a year. Through workshops, coaching, business mentoring and digital modules, participants are supported to rediscover strengths and to build the knowledge, skills and confidence to help them get back into work.
ReStart supports people from any background or profession, particularly those who have a fresh outlook on their future employment and would consider changing roles or industries.*
‘The Missing Million’ – why focus on older generations?
Long-term unemployment in the over-50s is an issue of growing concern in the UK, not only because of the effect it has on individuals, but also for the wider impact it has on families and younger generations.
According to a Business in the Community (BITC) report – ‘The Missing Million’ – there are 3.3 million economically inactive people in the UK aged 50-64. Of these, around one million have been made ‘involuntarily workless’ through redundancy, ill health or early retirement.
According to BITC, one in three workers will be over 50 by 2020, and half of all UK adults will be over 50 by 2030. BITC have stated that “understanding the challenges and opportunities of an ageing pollution is vital”.
For some groups, in particular those on low incomes, it is extremely hard to get back into work over the age of 50. However, BITC estimates that over GBP80 billion could be added to the UK economy by keeping the over-50s in employment.
Helping those over the age of 50 to get back into work after a period of unemployment minimises the damage long-term unemployment does to individuals and their families which is a major barrier to social mobility.
ReStart extends A&O’s long-running social mobility work with Smart Start and PRIME, which focuses on providing high quality work experience to young people from non-privileged backgrounds, and complements our wider workplace diversity programmes.
Applications for the 2021 ReStart programme will open in January 2021.
*Please note, ReStart is a skills development and mentoring programme - it is not an apprenticeship or guarantee of employment.
It’s estimated that over GBP80bn could be added to the UK economy over ten years by keeping over-50s in employment. By helping those out of work back into employment, we could not only benefit from the vast financial contribution this group makes, but their wealth of knowledge and experience too.
Franz Ranero, Partner, Allen & Overy