According to a survey of 1,033 UK managers by the Chartered Management Institute (CMI), just 14 per cent of bosses consider their organisation well-prepared to cope with a greater volume of senior workers.

More than a third of respondents (34 per cent) claim board-level recognition of ageing workforces is non-existent, despite the fact that the vast majority (93 per cent) see value in retaining the knowledge and experience of older workers.

Some 59 per cent believe that it is hard for young people to manage older employees.

Respondents also claim that age discrimination still exists, with 40 per cent having experienced it at some stage in their careers. A similar number (41 per cent) state that their workplaces are not age diverse.

CMI’s director of policy and research, Petra Wilton, says: ‘The age profile of the UK workforce is changing, yet UK businesses are woefully underprepared for the impact this will have on their business.’

See also: SMEs wary of taking on senior workers