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Article
Publication date: 20 January 2021

Marie-Eve Dufour, Tania Saba and Felix Ballesteros Leiva

In the context of population aging, retirement has become a central issue in academic, professional and government discourse. A consensus can be seen to be emerging around…

Abstract

Purpose

In the context of population aging, retirement has become a central issue in academic, professional and government discourse. A consensus can be seen to be emerging around the idea of postponing retirement in favor of promoting active aging. From this perspective, the purpose of this study, using work-role attachment theory and met expectations theory, is to focus on the pre-retirement period and aims to better understand how certain individual factors and expectations explain the planned age of retirement.

Design/methodology/approach

An online survey was administered in 2015 to employees aged 45 and over working at a Canadian firm in the high-technology sector.

Findings

The results show that career commitment, attachment to work and expectations relating to workplace adjustments prior to retirement were positively associated with planned retirement age, whereas expectations relating to professional development showed a negative association with this variable.

Practical implications

This study fits into a line of research focusing on the end-of-career period and sheds light on the decision to retire by looking closely at the impact of employment conditions and human resource management practices on this decision. In a labor market context marked by high numbers of workers aged 55 and older, combined with the increasingly critical need for skilled labor and considering the expectations of workers leading up to their retirement could help to better plan these workers' end-of-career period.

Originality/value

Many studies have examined the characteristics of retirees after retirement. The authors’ study is one of the few that examines the aspirations of workers between the ages of 45 and 55 who are still employed but are beginning to consider their retirement plans, including the decision to continue working longer. Its originality also lies in combining work-role attachment theory and met expectations theory.

Details

Equality, Diversity and Inclusion: An International Journal, vol. 40 no. 7
Type: Research Article
ISSN: 2040-7149

Keywords

Article
Publication date: 15 June 2010

Amy M. Warren and E. Kevin Kelloway

The purpose of this study is to use the theory of planned behavior to test a structural model of retirement timing intentions of older workers in Canada following the…

1849

Abstract

Purpose

The purpose of this study is to use the theory of planned behavior to test a structural model of retirement timing intentions of older workers in Canada following the abolishment of mandatory retirement.

Design/methodology/approach

A survey of 281 working individuals was conducted in order to test a model of retirement timing.

Findings

The model was a good fit to the data. Attitudes toward people at work predicted people's attitudes toward work. Attitudes toward work predicted age and life perceptions. Age and life perceptions predicted control. Control predicted social/policy influences, and finally social/policy influences predicted planned retirement age.

Research limitations/implications

The main limitations of this study were that the authors tested a model based on self report data. Furthermore the data were correlational therefore they cannot make causal inferences.

Practical implications

Work attitudes predict people's own perceptions of their life and age. And these are predictive of norms. Organizations need to consider people's perceptions of their work, if they are to retain workers past the normal retirement age. Implementing work practices/policies, e.g. flexible work, become key considerations for these organizations.

Originality/value

The authors now have empirical support for the contention that norms are important for investigating the short term effects of lifting mandatory retirement, but also when considering the long term effects that changing mandatory retirement policies may have on individual's retirement timing. Furthermore, they have a more comprehensive model of retirement timing.

Details

International Journal of Manpower, vol. 31 no. 3
Type: Research Article
ISSN: 0143-7720

Keywords

Book part
Publication date: 7 November 2017

Dirk Hofäcker, Simone Braun and Matt Flynn

This chapter explores whether and how does the interplay of institutional context and management interventions lead older workers to delay retirement in Germany, the…

Abstract

This chapter explores whether and how does the interplay of institutional context and management interventions lead older workers to delay retirement in Germany, the United Kingdom and Hong Kong. The most important factors that influence retirement plans are placed on three analytical levels: the individual, the workplace and the institutional levels. It explores the importance of these factors and their cross-national variation in three different countries, namely Germany, the United Kingdom and Hong Kong. Using three national datasets we explore the relationship between the aforementioned factors via descriptive statistics and linear regression models. Institutional regulations seem to matter for retirement plans. But within countries, plans show varying patterns across social groups (lower educated, financially disadvantaged). The comparative design does not allow analysing specific institutional features directly, but findings are indicative for the fact that individuals take institutional frameworks into account when planning retirement transitions. The findings call for regime-specific solutions and future policies, for example, age-friendly workplace conditions and opportunities for requalification and mobility in Germany, rising retirement ages and greater financial security via more generous universal pension rights in Hong Kong and the United Kingdom.

Details

Managing the Ageing Workforce in the East and the West
Type: Book
ISBN: 978-1-78714-639-6

Keywords

Article
Publication date: 6 November 2017

Ilias Livanos and Imanol Nuñez

The purpose of this paper is to investigate how precarious conditions at work affect older workers’ decision about their planned age of retirement.

Abstract

Purpose

The purpose of this paper is to investigate how precarious conditions at work affect older workers’ decision about their planned age of retirement.

Design/methodology/approach

Different theoretical approaches on the decision to retire are investigated in order to ascertain whether precarious employment extends, or not, one’s working life. A rich data set including over 250,000 old workers across EU-15 is built for the empirical investigation.

Findings

The results suggest that old workers involved in precarious employment are planning to retire later than those who are engaged with more stable and regular jobs. However, lack of training as well as poor health conditions at work are found to be associated with early retirement.

Originality/value

The analysis conceptually associates two key features of modern labour markets (precariousness and retirement) and empirically provides some evidence of the effect of poor employment conditions on the decision to retire.

Details

Personnel Review, vol. 46 no. 8
Type: Research Article
ISSN: 0048-3486

Keywords

Content available
Book part
Publication date: 7 November 2017

Abstract

Details

Managing the Ageing Workforce in the East and the West
Type: Book
ISBN: 978-1-78714-639-6

Book part
Publication date: 7 November 2017

Hafiz T. A. Khan

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…

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

Managing the Ageing Workforce in the East and the West
Type: Book
ISBN: 978-1-78714-639-6

Keywords

Article
Publication date: 1 August 2002

Anna Luce, Tim van Zwanenberg, Jenny Firth‐Cozens and Claire Tinwell

More GPs are needed, but there are concerns about retaining the existing workforce quite apart from recruiting new doctors. This survey of GP principals in the Northern…

1226

Abstract

More GPs are needed, but there are concerns about retaining the existing workforce quite apart from recruiting new doctors. This survey of GP principals in the Northern deanery aged over 45, identified factors potentially encouraging them to take early retirement (before 60) or to work on beyond 60. Over a third of those with retirement plans intended to retire early. Perceived undesirable changes in the NHS and workload were the main factors influencing intentions to retire. Reducing hours and administrative duties, and improving managerial support were factors that may encourage later retirement. Financial incentives in the form of increased pensions were most attractive to those already planning later retirement. A total of 35 per cent scored above threshold for significant psychological distress, and the higher psychological distress the earlier GPs wanted to retire. Interventions encouraging later retirement should be targeted at reducing workload and administration. Interventions to reduce stress could also encourage later retirement.

Details

Journal of Management in Medicine, vol. 16 no. 4
Type: Research Article
ISSN: 0268-9235

Keywords

Article
Publication date: 20 September 2021

Jingjing Qu

Underpinned by the attraction-selection-attrition theory, this paper aims to investigate the impact of entrepreneurship on an individual’s expected retirement age and…

Abstract

Purpose

Underpinned by the attraction-selection-attrition theory, this paper aims to investigate the impact of entrepreneurship on an individual’s expected retirement age and explore how job satisfaction and expected retirement financial insufficiency (ERFI) as key factors can explain that.

Design/methodology/approach

A framework including direct and indirect relationships among key factors is empirically tested by using a pooled data sets consists of 13,420 individuals from the UK Household Longitudinal Survey, the analysis uses the entropy balance matching method and combined with quasi-bayesian monte Carlo method and hierarchy regressions to enhance the robustness of results.

Findings

The research finds entrepreneurs plan to retire later than organizational employees. In addition, a strong mediating impact of job satisfaction and moderating role of ERFI on the relationship between entrepreneurship and expected retirement age is verified.

Originality/value

The theoretical perspective and findings offer a novel insight into the research on entrepreneurs’ decision of retirement. The findings suggest entrepreneurs as crucial policy stakeholders contribute to retirement deferment should be valued. Effective interventions could be delicately designed in the future to unleash the potential of entrepreneurship in dealing with aging challenges.

Details

Journal of Entrepreneurship in Emerging Economies, vol. 14 no. 6
Type: Research Article
ISSN: 2053-4604

Keywords

Book part
Publication date: 7 November 2017

Matt Flynn, Yuxin Li and Anthony Chiva

There has been a growing interest amongst academics, researchers employers and governments/policymakers on ageing workplaces and workforces. As populations age and pension…

Abstract

There has been a growing interest amongst academics, researchers employers and governments/policymakers on ageing workplaces and workforces. As populations age and pension ages rise, older workers are finding themselves having to delay or postpone their retirement and organisations are looking for ways to enable them to do so in sustainable work. Workplace ageing is impacting both European and Asian societies and governments and employers are taking nationally specific approaches to age-related human resource management, social and public policies. In Europe, national governments are being led by the European Union in developing social and public policies to support older workers in maintaining employment through lifelong learning, flexible working, health management and job rotation. Tiger economies have focused on the ‘working pensioner’ pension rules which enable older workers to phase into retirement. China is facing rapid ageing but still maintains early retirement as a way to help older workers move out of physically and mentally demanding work. In addition to providing an outline for the remainder of the book, we also present a survey of older employees undertaken in the United Kingdom and Hong Kong which explores experiences in work, workplace relationships, skills and retirement plans. The survey is used as a common resource for the remaining chapters.

Details

Managing the Ageing Workforce in the East and the West
Type: Book
ISBN: 978-1-78714-639-6

Keywords

Book part
Publication date: 7 November 2017

Matt Flynn

This chapter discusses how trade union structuring and organisation in the West and Asia shapes how they respond to government and employer pressures to extend working…

Abstract

This chapter discusses how trade union structuring and organisation in the West and Asia shapes how they respond to government and employer pressures to extend working life. Class-based solidarity building in the West should lead to unions protecting employment and pension rights by mobilising members to defend the ‘right to retire’ while campaigning for protections of all older workers. Enterprise unionism in Asia, on the other hand, should mean that unions use their close relationships with government and employers to protect the job security of core employees and mobilise company-based solidarity. Drawing on the survey data, expectations and awareness of union members and non-members are compared in the United Kingdom and Hong Kong. It is shown that British union members have a greater understanding of their employment rights and retirement savings while in Hong Kong union membership correlates with better understanding of company HRM policies.

Details

Managing the Ageing Workforce in the East and the West
Type: Book
ISBN: 978-1-78714-639-6

Keywords

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