How the cost-of-living crisis is affecting senior professionals 

Around 750,000 individuals aged 50 to 64 are either actively seeking work or are inactive but willing to work, according to GOV.UK data. Senior professionals who had taken career breaks for personal reasons are now looking to re-enter the workforce to regain financial stability and long-term career growth.  

Notably, over 10 million people aged 50 and above are currently in employment in the UK, representing about 33% of the workforce. Within this group, 3.6 million older people work part-time, a record high and 12% up since 2021. This demonstrates that many senior professionals are actively seeking flexible ways to remain economically engaged.

Tech roles stand out due to their high demand, competitive salaries, and opportunities for professional development. Senior professionals increasingly see tech as an industry where their existing skills can be applied effectively. For employers, this represents both a challenge and an opportunity. To remain competitive, organisations must adapt their recruitment strategies to attract, support, and retain experienced talent. 

The financial squeeze on senior professionals 

The last decade has transformed the financial realities facing the UK’s older workforce. Average UK salaries have risen modestly, but essentials such as housing, food, and energy now take up a larger proportion of income compared to ten years ago. For example, rental prices increased seven per cent in the 12 months to May 2025, while house prices average £270,000.

This means that the money senior professionals might have considered sufficient to retire with in 2015 stretches far less in 2025. Savings that once provided a comfortable buffer are being rapidly eroded by rising living costs and the cost of living. For those approaching retirement age, pensions may feel increasingly inadequate in the face of inflation. Many are now forced to weigh the decision of whether to remain economically inactive or re-enter the workforce to safeguard their financial security. 

The challenge of returning to work 

Returning to work after a career break brings its own set of hurdles. Many senior professionals face the persistent problem of age bias, which can quietly limit opportunities for retraining or progression. Employers may wrongly assume that older candidates are less adaptable, less tech-savvy, or less motivated to develop new skills. At the same time, the pace at which technology changes can make even a short break feel like a daunting gap to overcome. especially in today’s cost of living climate. 

Stuart Morris is an FDM Returner now working as an IT Programme Manager for a global law firm. He found himself unexpectedly back on the job market at 60, quickly realising that decades of experience didn’t shield him from age-related bias. He says: 

“The FDM Returners Programme didn’t just offer me a job—it gave me a platform to be seen again. In a market where older professionals often feel invisible, that recognition mattered more than any title. 

I’ve been vocal ever since about the urgent need to change how we view experienced professionals—not just because I lived it, but because I’ve seen how powerfully organisations like FDM can unlock that potential when they choose to lead with vision and inclusion.” 

Sheila Flavell CBE, COO of FDM, highlights this issue in an article for HR Magazine: 

“Age discrimination remains a persistent yet often unspoken challenge in today’s workplace, blocking career progression and excluding senior professionals from vital upskilling opportunities. With four generations now sharing the workforce, employers must rethink how they support diverse needs and ensure senior talent is no longer overlooked. 

As industries like technology evolve rapidly, bringing senior professionals into these sectors and providing them with up-to-date training is critical, whether they’re returning to work or transitioning into new careers. 

Retraining and hands-on learning can open new paths for mid-life professionals, especially in fast-growing areas like IT Operations and Data & Analytics. Businesses must create environments where multigenerational teams thrive, and everyone has equal opportunities to lead in the tech revolution.”  

Why the technology sector is proving attractive 

Technology has emerged as one of the most attractive sectors for senior professionals navigating this landscape.  Salaries remain competitive, and the industry is well ahead of others when it comes to flexible and hybrid working models. For many returners, balancing caring responsibilities is essential to making a role sustainable, particularly with the rising cost of living. 

Equally important is the opportunity for long-term employability. Senior professionals are not looking for short-term fixes, but for pathways into careers that will remain relevant over the next decade. The tech sector offers clear routes into future-proof skills, allowing individuals to both secure their financial position and continue to grow professionally.  

With demand for digital expertise in areas such as data, artificial intelligence and cloud technology continuing to grow, the tech sector provides clear routes to long-term employability and professional growth. 

The value of previous experience 

While much is written about skills gaps and digital shortages, one of the greatest untapped resources in the current economy is the experience and resilience that senior professionals bring with them. Having spent years in leadership, client management, or problem-solving roles, these individuals often need less onboarding time and can contribute at a strategic level almost immediately. Their soft skills, such as communication, collaboration, and decision-making, are frequently as valuable as the technical skills they update through reskilling programmes. 

Despite lingering misconceptions, research consistently shows that senior professional returning to work after a career break are highly engaged and deeply committed to making the most of their second career opportunity. Their determination often translates into stronger performance and loyalty, both qualities that are especially valuable where retention is a concern for 88% of organisations and the cost of living pressures. 

How FDM supports senior professionals 

At FDM, our Returners Programme has supported over 500 individuals return to work, with an almost 70% female intake, helping people relaunch sustainable careers in technology while also driving diversity forward across the sector. By providing structured, project-based training and industry-recognised qualifications, we ensure that returners not only refresh their technical expertise but also gain confidence in applying it within a modern business context. 

We also understand that senior professionals bring more than technical skills. Their adaptability, life experience, and ability to mentor younger colleagues create thriving multigenerational teams. By matching these individuals with businesses in need of mid-senior talent, FDM helps to address skills shortages while offering returners a pathway back to meaningful, financially secure work. 

Conclusion 

The cost of living crisis has made it clear that remaining out of work is not a sustainable option for many senior professionals. Rising rents, higher mortgage payments, and a lack of savings are forcing experienced individuals back into work. By tapping into this talent pool, businesses can address both skills shortages and retention challenges, while building resilient, multigenerational teams that thrive under pressure. 

Businesses gain access to an overlooked but highly motivated pool of talent, while returners secure the training, confidence, and opportunities they need to succeed in today’s economy. In a time of financial uncertainty, it is this kind of collaboration that ensures both individuals and organisations remain resilient, competitive, and ready for the future. 

Take the next step  

If you’re a returner ready to get back into work, join our Returners Programme.   

To discover how tech returners can strengthen your business while navigating current economic challenges, contact us to learn more.