Solving the delayed retirement puzzle … and creating win-win opportunities

Abstract

Purpose

The population across the industrialized world is aging to the extent never experienced before in history, living 10 years longer on average than the previous generation and nearly two decades longer than two generations ago.

Design/methodology/approach

To date, this rapidly growing segment of the population is not always addressed in inclusion and diversity plans and has often been overlooked as a source of competitive advantage, rather seen as a cost and a burden in some organizations.

Findings

Leaders in industrial nations agree that to continue strong economic growth, it is vital to support people to live healthier lives and stay in the workforce for longer. By doing so, we can not only improve well-being and enable people to remain active and economically productive but also reduce dependency, bringing down the burdens on health, pensions and social systems.

Originality/value

When this challenge is addressed, important motivational and productivity benefits will result from the seasoned talent segment staying a little longer with the organization. They will stay longer because they want to, not because they cannot afford to retire.

Citation

Phillips, P. and Phillips, J.J. (2020), "Solving the delayed retirement puzzle … and creating win-win opportunities", Strategic HR Review, Vol. 19 No. 3, pp. 123-130. https://doi.org/10.1108/SHR-03-2020-0015