Retirement: It’s Trending!

S. Lorrie Ray, Membership Development​

It seems you cannot pick up any magazine, newspaper, or even look online without hearing about those retiring Baby Boomers. While the recession put off retirement for some folks, with better days ahead, retirement is becoming popular again. This is a multifaceted issue, and here are a few of the different aspects employers face:

 

Generations in the Workplace – You have no doubt heard about how different generations interact in the workplace. Have you heard that workplace landscape is changing as current generations age, and more generations come in? It’s true. It’s also true that there are similarities among generations that we can overlook when we worry too much about the differences. The more you know about how the different generations operate the better.

 

Retirement Transition – It’s so important to not lose organizational knowledge, and to have plans in place for transferring that knowledge. The first step is to know when employees are likely to leave. How do you talk to an employee who is older without offending the employee or worse yet, creating discriminatory intent? One of the ways to do this is to let your employees know that you value them and their service, and you want to help them as they plan to leave the organization. The more your employees know about retirement planning, the better off they will be. The more you know about their plans for retirement, the better off you will be.

 

Encore Careers – Even though more people may be retiring from their primary careers, it doesn’t mean that retirees stop working. Many go on to work part-time positions in their field, or in other industries. Employers who have positions well suited for retirees find both advantages and challenges in working with them. Many employers enjoy working with employees who have a strong tendency to understand the requirements of the workplace such as steady, reliable work, and who are more interested in a job well done, rather than climbing the corporate ladder. Still, this population often has very different needs and values concerning pay, work-life balance, and benefits, and making sure you have the right total rewards in place is key.

 

To learn more, join us for our upcoming webinar series, Retirement Trends. The first webinar will be on March 26, 2013. Click here for more information.