Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
1013934 | Business Horizons | 2014 | 9 Pages |
Abstract
Financial packages provide the most common incentive to meet the legal requirement that retirement be voluntary. However, managers have other tools to encourage retirement or encourage staying on the job—within legal constraints and consistent with current health insurance changes that may make pre-65 retirement more desirable. In using these tools, managers must consider demographic realities that offer a large cohort available to replace retirees. To assist managers, a qualitative study among human resource experts probed how companies decide between encouraging retirement and encouraging staying on the job and also how each is accomplished to maintain a workforce best matched to job requirements. Suggestions for marketing retirement include starting early to encourage saving so that employees can afford to retire and improving the retirement ‘product’ by flexible alternatives to full-time work, including self-employment. Suggestions for keeping employees on the job include tailoring schedules and rewards to the preferences and needs of individuals who might otherwise retire.
Keywords
Related Topics
Social Sciences and Humanities
Business, Management and Accounting
Business and International Management
Authors
Betsy DuBois Gelb, Teri Elkins Longacre,