Businesses are urged to seize the opportunity and capitalise on the wisdom and experience of senior employees to help prevent major skills shortages in the UK.

Anita Bickerdike, managing director of Shrewsbury-based Positive Intention, says business leaders need to act now in order to protect against productivity losses in future years.

Her comments follow the publication of a new report by the Chartered Institute of Personnel and Development which warns the UK could face serious skills shortages over the next 20 years if employers don’t take action and change their approach to workforce planning – a view also shared by Ros Altmann, minister for pensions.

Mrs Bickerdike urged all businesses to apply the ‘grow your own’ approach across the workforce.

She said: “The ‘grow your own’ approach works with new seedlings and established oaks.

“Apprenticeships are vital to create a future talent pool.

“However, businesses also need to maximise the benefits of existing, experienced staff by continually giving them opportunities to grow and learn – whatever their age. “Older employees have vast experience and knowledge and can be invaluable as mentors for less experienced staff.

“As skills shortages are predicted to increase, businesses need to face the challenges now by investing for the future.

“Failure to do so could result in an inability to satisfy customer orders, a drop in productivity and a fall in profits,” she warned.

The report states that there are already 9.4 million people in employment over the age of 50 in the UK which is equivalent to more than 30 per cent of the workforce.

It adds that a vast proportion of this group will leave work permanently, taking their acquired skills and experiences with them and due to demographic changes there will not be the required supply of younger people to replace them.

Anita said supporting older staff to learn new skills was therefore essential.

“It’s a win-win situation for employers resulting in staff with the wisdom and experience of age and updated knowledge and skills necessary for the current labour market,” she said.

Mrs Bickerdike, who supports business growth through leadership and people development founded Positive Intention in 2013 following a long, successful career working as a senior solicitor, trainer and coach.

She specialises in leadership, people development and change management working in industry, commerce and with sports’ national governing bodies.