Middle-aged workers less confident in finding new jobs, dev't opportunities: ADP

Only 49% of middle-aged workers are confident about finding a new job.

Middle-aged workers aged 45 to 54 are less optimistic about their career growth and finding other job prospects compared to younger workers who were receiving more upskilling opportunities, according to a survey by Automatic Data Processing, Inc. (ADP).

ADP's People at Work 2021: A Global Workforce View survey showed that only 49% of middle-aged workers are confident about finding another job with similar or better pay compared to the 62% of 35- to 44-year-old workers, 71% of workers aged 25 to 44.

Six in 10 or 63% of middle-aged workers are pessimistic that the COVID-19 will negatively impact their ability to find a new job in the next three years compared to the 52% of those aged 35 to 44, and 44% of those aged 25 to 44.

One in two middle-aged workers also reported stagnation in upskilling opportunities since the start of the pandemic, whilst 47% workers aged 25 to 34 years old reported experiencing growth in upskilling opportunities compared to the 33% of middle-aged workers. 

ADP's Vice President of HR, APAC Yvonne Teo said younger workers “are perceived as having more room to grow in their career, skewing employer focus towards nurturing and retaining younger talent,” whilst experienced workers do not receive the same mentoring or reassurance because they are more experienced.

“We need to challenge the misconception that career development and goal-setting is something that stops after a certain age. The untapped potential in seasoned workers is enormous. A huge mindset shift needs to occur for employers effectively build on the advantage of experienced workers,” Teo said.

Despite this, the older workers have retained higher job stability with only 43% of those aged 45 to 54, and 47% of those aged 55 and above have experienced the impact of COVID-19 such as job loss, taking a pay cut or going on unpaid leave. This is compared to the 56% and 62% among those aged 35 to 44, and 24 to 34 years old, respectively.

ADP also found that only 36% of middle-aged workers received additional training in line with new roles or responsibilities brought about by the COVID-19, compared to 48% and 42% of those aged 35 to 44 and 25 to 34.

Middle-aged workers were also the least confident in handling new responsibilities, whilst workers aged 55 and above were the least likely to receive monetary compensation for any new responsibilities, followed by the middle-aged workers. 

The survey involved 32,471 workers in 17 countries in Europe, North and South America, and the Asia Pacific.