Re-launching your career is daunting at any age but jobseekers in their 50s often have the hardest challenge. According to a report by The Prince’s Initiative for Mature Enterprise (PRIME), there are currently 3.3 million economically inactive people aged between 50 and 64 in the UK.
Today, Barclays has announced its new apprenticeship scheme aimed at the over-50s, giving older workers a chance at a new career in banking.
Mike Thompson, Barclays’ head of apprenticeships says “Older people have more life experience, and can show more empathy. They will have had a mortgage, they will know how to budget and how to support customers.”
The venture will position middle-aged trainees in entry level positions but give them the opportunity to move-up within the firm. “There is no ceiling on how high anybody can go,” says Thompson.
The government’s older workers champion, Dr Ros Altmann, has previously advised that more should be done to train and keep older workers and claims several other big organisations are looking at similar schemes.
Barclays are unclear whether its older apprentices will earn more than the rate paid to younger trainees, approximately £9.15 an hour in London and £7.85 in other regions.
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