Workers Retiring in Stages?

A new study by Hewitt Associates found 61 % of U.S. companies have or will develop programs that let workers retire in stages.

Retaining worker experience and skills was cited as the most important reason for offering such programs by 72 % of the companies. Only 5 % of such programs are formalized.

When asked about the plans at Amalgamated Manufacturing, President Claude Perkins said, "We have mixed feelings about the subject. There is considerable evidence that long term employees have already retired on the job."

He was made aware of a study by Employee Benefit Research suggesting that flexible work arrangements, a bump in pay, or even more meaningful work could persuade workers to delay retirement.

Perkins commented, "Flexible hours for older employees would cause longer hours for supervision. More pay would further reduce productivity and more meaningful work would set an unfortunate precedent. Younger employees would question why they had to wait for these opportunities and, at the same time, carry old age workers."