Sainsburys began to develop plans in 1986 to target older employees and, by the early 2000s, 15% are over 50 and 1% over 65. It produced a retirement plan and pension protection mechanisms, enabling members to draw partially on their pension to top up a reduced salary. Employees can reduce their hours without significantly decreasing their net income and they can continue to contribute to their pension up to the age of 75. Age has been removed from the application form and is requested for monitoring only.
The company have reported that their mixed age workforce has led to improved customer satisfaction by more accurately reflecting the profile of their customers. It also believes that the new approach has contributed to a better-motivated workforce which feels more valued and more willing to contribute to business success.
