A skilled engineer leaving at 60, a warehouse supervisor pushed towards retirement at 62, or an export manager made redundant at 58 may each take far more from a business than a post on an organisational chart suggests. They take judgement: the ability to recognise an unreliable supplier, calm an anxious customer, diagnose a recurring fault, or see trouble in a contract before it becomes expensive.
Britain’s ageing workforce is often discussed as a demographic burden. That is too narrow a view. An older population certainly creates pressures for pensions, health services and public finances. Yet employers and policymakers who treat older workers principally as a cost are overlooking one of the country’s most substantial reserves of accumulated capability.