Search results
1 – 10 of over 4000Much has been written about the difficulty that baby boomers will face when they begin to retire. Concerns have been raised about the long‐term problems facing the Social Security…
Abstract
Much has been written about the difficulty that baby boomers will face when they begin to retire. Concerns have been raised about the long‐term problems facing the Social Security system, problems with employer provided pension plans, volatile financial markets and unfavorable demographics. The purpose of this paper is to examine one tool that baby boomers can use to make their retirements more successful — phased retirement. Moreover, this paper will attempt to demonstrate that it is in the best interest of not only employees but also employers and government at all levels to promote the growth of this concept.
Åsmund Hermansen and Tove Midtsundstad
The purpose of this paper is to shed light on developments in Norwegian companies’ active-ageing policies, and hence offer insight into what characterises those Norwegian…
Abstract
Purpose
The purpose of this paper is to shed light on developments in Norwegian companies’ active-ageing policies, and hence offer insight into what characterises those Norwegian companies offering measures to retain their older workers.
Design/methodology/approach
The research questions are investigated using data from two surveys carried out among a representative sample of Norwegian companies in 2005 and 2010. The two data sets are analysed both separately and jointly, being merged to obtain a pooled cross-section data set. Both multivariate logistic and linear regression are applied.
Findings
The proportion of companies offering retention measures, as well as the extensiveness of their retention efforts (the number of different measures offered), has increased considerably from 2005 to 2010. What characterises these companies however is surprisingly similar in 2005 and 2010. The retention efforts of Norwegian companies seem to be part of a holistic approach to active ageing. Offering a number of different retention measures is more common among companies having initiated “measures to facilitate lifelong learning” and “measures to prevent health problems or reduced work capacity”. The financial incentives embedded in the contractual early retirement scheme seem also to have a significant impact on retention efforts.
Originality/value
The employers’ perspective has received little attention in previous research and the authors are the first to report on developments in Norwegian companies’ retention efforts over time. Knowledge about what characterises employers offering such measures will be important for future efforts to increase employments rates among older workers, which is an aim for most European countries.
Details
Keywords
Discusses retirement benefits, phased retirement and pre‐retirementpreparation. Outlines six ingredients for successful retirement andconcludes that it needs to be efficiently…
Abstract
Discusses retirement benefits, phased retirement and pre‐retirement preparation. Outlines six ingredients for successful retirement and concludes that it needs to be efficiently considered, planned and acted upon.
Details
Keywords
Discusses the changing composition of the retired population interms of age and volume and the need for pre‐ and post‐retirementeducation programmes with counselling as an…
Abstract
Discusses the changing composition of the retired population in terms of age and volume and the need for pre‐ and post‐retirement education programmes with counselling as an important component. Policy making, employee learning and development, and employee assistance and counselling are discussed while some approaches to retirement education and the position of women and ethnic minorities are examined.
Details
Keywords
This paper seeks to identify the meanings associated with retirement for a longitudinal sample of women immediately prior to and following their official retirement. Contextual…
Abstract
Purpose
This paper seeks to identify the meanings associated with retirement for a longitudinal sample of women immediately prior to and following their official retirement. Contextual factors which shape those meanings are also described.
Design/methodology/approach
In‐depth interviews, based on a series of interview guides were conducted with a sample of 14 women in their pre‐ and post‐retirement years. The data were coded using a grounded theory approach and typology classification schemes.
Findings
Retirement was alternately conceptualized as a new period of life affording freedoms and growth, as a natural final phase, as a frightening period due to losses, and/or as a pinnacle of accomplishment or relief. The contextual influences of family, friends, and unique attributes of one's profession (e.g. having jobs with transferrable skills and/or having physically demanding jobs) help create meanings. Finally, meanings were found to shift over time in concert with changing contexts.
Research limitations/implications
Women have a wide range of responses to their own retirement. The stereotype that they will easily replace the work role with family and/or household roles does not hold for all.
Practical implications
By truly understanding the particulars of each employee's situation, managers can assist employees in the transition into retirement such that it is a smooth one. Managers might also be able to more immediately identify employees, who would be willing to return to the organization in a consulting or short‐term capacity following retirement.
Originality/value
The longitudinal data offers a unique vantage point, such that meanings can be traced over time in a way that has not yet been documented in empirical work.
Details
Keywords
The purpose of this paper is to raise the profile of deep succession planning to identify key talent. Older workers are now forming a significant proportion of the workforce. This…
Abstract
Purpose
The purpose of this paper is to raise the profile of deep succession planning to identify key talent. Older workers are now forming a significant proportion of the workforce. This cohort could be lost to retirement leaving industry and commerce short of talent.
Design/methodology/approach
A range of research and other relevant literature is reviewed. Real life experiences with clients developing their older workers are reported and practical suggestions made for implementation.
Findings
There is little literature on organisation‐deep succession planning. The process needs to be linked to organizational objectives with ownership at all levels.
Practical implications
The main implications of this paper are that organization‐deep succession planning is a complex process requiring commitment and long term planning at all levels. Without a thorough analysis of age and skill profile no workable plan can be made.
Originality/value
This report brings together a range of data around succession planning that should take place across the organization, not just at board level. It will be of value to HR, L&D and equality professionals.
Details
Keywords
Financing retirement is an important aspect of later life that is related to overall healthy living and wellbeing. Very little is known about the attitudes of people towards their…
Abstract
Financing retirement is an important aspect of later life that is related to overall healthy living and wellbeing. Very little is known about the attitudes of people towards their individual future retirement plans, accrued savings or even finances once they are into old age. There are no comparative studies across geographical regions that may help with understanding the complex behaviour of individuals and social norms. This chapter examines how life in retirement in the United Kingdom and Hong Kong is financed while also capturing regional disparities. This study uses data collected from primary sources in both territories. Quantitative analysis was carried out in order to answer key research questions. The findings suggest that employees plan to work longer than their actual retirement age and are not prepared for retirement whereas educated and higher income groups generally have savings plans in place to finance their later lives. These findings have significant implications for organisations and policy makers.
Details
Keywords
Gabriela Topa and Carlos-María Alcover
Retirement adjustment is the process by which aged workers become accustomed to the changed facts of life in the transition from work to retirement and develop psychological…
Abstract
Purpose
Retirement adjustment is the process by which aged workers become accustomed to the changed facts of life in the transition from work to retirement and develop psychological well-being in their post-working life. The purpose of this paper is to explore the psychosocial factors that significantly explain retirement intentions and retirement adjustment, using two separate empirical studies.
Design/methodology/approach
Retirement self-efficacy, low work involvement, older worker identity and relative deprivation significantly explained retirement intentions (bridge employment engagement, part-time retirement, late retirement and full retirement) of workers over 60 years (Study 1, n=157). Retirement adjustment indices (retirement satisfaction, feelings of anxiety and depression) were associated with psychosocial factors for retirees (Study 2, n=218).
Findings
The findings highlight that retirement self-efficacy and older worker identity positively and significantly explained both full retirement of aged workers and retirement satisfaction of retirees. Relative deprivation negatively significantly explained partial and late retirement intentions and retirement satisfaction of retirees.
Research limitations/implications
The implications of these studies are discussed for understanding retirement planning and counselling practice.
Practical implications
Retirement adjustment conceptualized as a process has important implications for retirement planning, and consequently can influence the project of the life course, as well as career’s decisions.
Social implications
Social contexts should consider all factors that can negatively affect self-efficacy, work involvement and identity of employees in the mid and late-career stages, and thus contribute to reinforce and strengthen personal and psychosocial resources involved in planning and adaptation to retirement, and to increase the insight into the planning and decisions older workers make to face retirement.
Originality/value
This work had two goals, pursued by two empirical studies with two samples: workers over 60 years, and retirees. The authors contend that the availability of two different sets of data increases the generalizability of the findings.
Details
Keywords
Eleanor Davies and Andrew Jenkins
The purpose of this paper is to examine the significance of the work‐to‐retirement transition for academic staff from a life course perspective and the manner in which individuals…
Abstract
Purpose
The purpose of this paper is to examine the significance of the work‐to‐retirement transition for academic staff from a life course perspective and the manner in which individuals have managed the transition.
Design/methodology/approach
In total, 32 semi‐structured interviews were conducted with academic staff from ten Universities in England. The data are analysed using matrix analysis.
Findings
Marked differences in the experience of the work‐to‐retirement transition were found and five groups are identified which characterise the significance of retirement. Clean Breakers view retirement as a welcome release from work. Opportunists and Continuing Scholars use retirement to re‐negotiate the employment relationship. The Reluctant consider retirement as a loss of a valued source of identity and the Avoiders are undecided about retirement plans.
Research limitations/implications
The focus of the study is at the individual level. A more complete understanding of retirement decisions would encompass organisational approaches to retirement issues.
Practical implications
There are practical implications for academics approaching retirement. Not all academics wish to continue to engage in academic work in retirement. For those who do, opportunities are predominantly available to staff with stronger social and professional capital. Continued engagement necessitates personal adaptability and tolerance to ambiguity. Staff who are planning their careers might build such factors into retirement planning.
Social implications
Organisations need to rethink their responsibilities in managing retirement processes as they face an increasing variety of retirement expectations in the workforce. Given the unfolding de‐institutionalisation of retirement, both individuals and organisations need to re‐negotiate their respective roles.
Originality/value
The paper characterises the diversity of modes of experiencing retirement by academic staff, highlighting differences between the groups.
Details