UK employers are twice as likely to recruit older workers than their global competitors, retaining valuable skills, new research claims.

The survey of 27,000 employees across 20 countries found that over 40% of companies believed in losing older staff to make way for younger recruits.

According to the report by HSBC, UK firms are world leaders in hiring a more mature workforce. Eighty-two per cent of employers quizzed said that losing older staff would mean a skills drain.

Globally, nearly three quarters (72%) of respondents disagreed with a mandatory retirement age.