Managers of Mid-Life Reinvention
By Christopher Ward

They say you can't teach old dogs new tricks. But, in the case of Welsh managers, that's precisely what we'll need to do in the years ahead.

The recent report on the looming pensions crisis has delivered a major wake up call to millions of people in the British workforce, and the prospect of being forced by financial necessity to keep working right into their Seventies is now appearing very real. 

There's a conventional wisdom that by their mid to late fifties many managers have entered the home straight and consciously or sub-consciously have begun to coast towards retirement. 

Of course that doesn't mean that they stop pulling their weight or begin to shirk their responsibilities. 

But, apart from those who expect to reach the very top, the majority have accepted that they've reached a plateau and the incentive to face change isn't quite as strong as it was when they were furiously climbing the career ladder in their thirties and forties. 

Why they ask should they struggle to embrace new technology, new ways of working or new philosophies if they've only got a few years left before the finishing line is reached and the gold watch collected. 

But Adair Turner's recent report on the likely shortfall in pension payments and the pressure to keep on working had made many think again. 

Managers in their early to mid fifties are now looking at the possibility of up to 20 years working life ahead of them. That's a long time to be coasting along the home straight - maybe long enough for two or more technological revolutions. 

For many this scenario may well summon up a second wind and ignite the motivation to reinvent themselves and embark on a fresh career building spurt. 

This is a very significant phenomenon as there are currently more over 55s than ever before in the UK workforce. According to the Employers Forum on Age the number of 55-64 year olds at work will rise from less than six million in 1996 to over seven million in 2006 and 8.5 million in 2026. 

At the same time the number of 25 - 34 year olds will drop from nine to seven million in the decade up to 2006. 

Working a quick calculation that translates into tens of thousands of Welsh managers faced with a crucial dilemma. Do they stagnate through this extended working life and lurk in the corporate background or seek the new skills they need to remain in the vanguard of industrial progress.

There is absolutely no reason to believe they can't pull off such a feat of rejuvenation and make a huge contribution to their organisations, if given the opportunity. 

That's the key point. Businesses too must begin to see the value of older experienced managers and must start to give higher priority to ensuring they get the training they need to remain as effective as ever they were.

Evidence shows that many managers leave the workforce with much more left to give and having retired spend many years in consultancy or running some busy voluntary organisation. 

Many complain that they're so busy after retirement they can't understand how they had the time to go to work before. 

Of course there's absolutely nothing wrong with such post retirement contribution. In fact it's a hugely positive contribution to society. 

But, if such managers are in future to be compelled by paltry pensions to stay in paid employment then industry should ensure it taps into this energy and gets the most from it.

Failing to tackle the issue risks not just a failure to fulfil the potential of the older manager but the possibility that such managers could even become a barrier to progress. 

Research from the Employers Forum on Age shows that a growing number of young managers in the workforce are struggling to manage more "junior" staff who are actually old enough to be their parents. 

In many cases, according to the Forum, the younger managers are having their authority challenged by the long servers who believe they've seen it all before. 

While this issue is not new, it may well become a significant problem if older managers with extended working lives, spend longer periods coasting towards retirement and greater numbers of them are overtaken on the career highway by much younger people. 

It would be far better for them and their organisations if they maintained their momentum and vision for the future and continued to give their employers the full benefit of their solid experience and evolving skills right to the end. 

It was slightly worrying to see the recent survey of manufacturers across the UK which suggested that firms are not overly keen to retain people aged over 65 and they hope the government doesn't force them to do so when the new age discrimination laws come into force in two years time. 

Given that we know older people, and older managers in particular, have much to contribute, it would be far more reassuring to see firms expressing greater willingness to invest in the skills of the elders and reinvigorate them for a prolonged contribution to the business. 

Of course the learning needs of people in later career can differ from those of younger counterparts. This must be acknowledged and catered for. 

However, where there is a will there is usually a way and industry should set out to profit from teaching old dogs new tricks. 

Christopher Ward is Chief Executive of Wales Management Council