| Workplace Trend Phased Retirement A robust economy, the aging of the baby boomers, and a smaller pool of younger workers is creating hot competition for skilled employees. A recent survey conducted by Watson Wyatt Worldwide indicated that a growing number of large employers will be implementing phased retirement approaches as a strategy for winning the “war for talent” and retaining long-time employees. Phased retirement programs take a variety of forms. The most common approaches are hiring retirees for part-time or temporary employment and reducing workdays and/or workweeks. According to the study, “phased” employees typically work 20 to 30 hours per week. Sixteen percent of the 586 large employers surveyed currently offer phased retirement, while another 38 percent reported they are interested in establishing such programs in the next two to three years. In addition, 70 percent of the employers agreed that implementing a phased retirement program along with other flexible options for workers, such as job-sharing and telecommuting, is a viable strategy for addressing labor shortages. Source: “Employers Turn to Phased Retirement as Workers Age and Labor Shortages Increase,” Sept. 8, 1999 Press Release, Watson Wyatt web site: www.watsonwyatt.com. Are You Building Career Resiliency? Life Planning in the Workplace
Creative Aging | Career
Transition | Retirement Preparation |
Growth & Renewal All rights to content on this site, whole or in
part are reserved by the author. Unlawful use is prohibited by law. |