Get access to the exclusive HR Resources you need to succeed in 2018.
Sign up for free email newsletters and get more SHRM content delivered to your inbox.
Is your employee handbook keeping up with the changing world of work? With SHRM's Employee Handbook Builder get peace of mind that your handbook is up-to-date.
Build competencies, establish credibility and advance your career—while earning PDCs—at SHRM Seminars in 14 cities across the U.S. this fall.
Gain the skills you need to rise to the next level in your career. Jon us at SHRM's Leadership Development Forum, October 2-3 in Boston.
Members may download one copy of our sample forms and templates for your personal use within your organization. Please note that all such forms and policies should be reviewed by your legal counsel for compliance with applicable law, and should be modified to suit your organization’s culture, industry, and practices. Neither members nor non-members may reproduce such samples in any other way (e.g., to republish in a book or use for a commercial purpose) without SHRM’s permission. To request permission for specific items, click on the “reuse permissions” button on the page where you find the item.
Over half of workers (54 percent) nearing retirement age plan to continue working after retiring from their current career, up from 45 percent only one year ago, according to a study released by CareerBuilder.
The good news is that a majority of employers are hiring mature employees or plan to do so. Fifty-four percent of private-sector employers hired workers age 50 and older in 2014—up six points from the previous year’s 48 percent—and 57 percent plan to do so in 2015.
The nationwide survey was conducted by Harris Poll on behalf of CareerBuilder in late 2014, among 438 full-time workers age 60 and older and 2,192 hiring and human resource managers.
Jobs in customer service, retail and consulting are the three most common areas retiring workers plan to pursue. Of this group, 81 percent said they will most likely work part time, while 19 percent plan to continue working full time.
The survey also found 53 percent of workers age 60 and older are currently delaying retirement, down from 58 percent last year and 66 percent in 2010, indicating that economic confidence among senior workers may be significantly improving.
Other findings include:
Utilize Older Workers’ value
Companies today cannot afford to neglect talent at any age. “In this new reality, younger managers should be encouraged to give older employees a chance to learn and grow and be competitive,” said Ronald C. Pilenzo, Ph.D., SPHR, president and CEO of The Global HR Consultancy, based in Hobe Sound, Fla. “Companies should take advantage of the skills of older employees and they should be correctly positioned in jobs that match their skill level as well as the job to be done.” Older employees should feel that the company is interested in their contributions and will include them in training programs, and consider them for advancement if they are qualified and interested, Pilenzo explained.
He gave the following example from his own career: The company faced the problem of a worker nearing retirement age who, even though he had been a top salesman, was nonetheless becoming disengaged, or “retiring in his own job.”
“Sal was grinding down. We needed to gradually begin to train one or more replacements and [decided to] use Sal as an ‘inside trainer’ and mentor for his replacement and other sales personnel in the department,” Pilenzo remembered. “This would solve two problems and keep Sal motivated in a new job. We could also reduce his work time and hours to ease him on his way to his retirement over the last two to three years of service. More companies should consider this type of approach and use mature workers and even retirees for special assignments when needed.”
Roy Maurer is an online editor/manager for SHRM.
Follow him @SHRMRoy
You have successfully saved this page as a bookmark.
Please confirm that you want to proceed with deleting bookmark.
You have successfully removed bookmark.
Please log in as a SHRM member before saving bookmarks.
Please sign in as a SHRM member before saving bookmarks.
Please purchase a SHRM membership before saving bookmarks.
An error has occurred
Recommended for you
SHRM Annual Conference & Exposition
SHRM’s HR Vendor Directory contains over 10,000 companies