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Survey Indicates Majority Plan to Postpone Retirement


Aug. 15, 2007 (SmartPros) For many workers, retirement won't mean an end to their careers. A new survey found that when workers are ready to retire, most will instead opt for a new challenge, such as working as a consultant or even changing fields.



The survey by accounting and finance staffing firm Robert Half Management Resources found that just one in three workers plan to quit work entirely once they're ready to retire from full-time employment.

Workers were asked: "When you are ready to retire, do you see yourself quitting work entirely or taking one of the following options?" Their responses:

When you are ready to retire, do you see yourself quitting work entirely or taking one of the following options?

Quit work entirely

34%

Change fields/work at something new

24%

Work as a consultant

14%

Work fewer hours for the same company

14%

Take a part-time job

2%

Continue to work/not plan to retire

2%

Volunteer

1%

Other

3%

Don't know

6%

Source:  Robert Half Management Resources

"Longer life spans, increased financial responsibilities, and a desire to remain mentally and physically active are prompting today's workers to view retirement differently than their predecessors," said Paul McDonald, executive director of Robert Half Management Resources. "The desire by many professionals to remain in the workforce past the traditional retirement age could be a boon to employers concerned about talent shortages, which are predicted to intensify."

McDonald said companies can retain tenured staff by offering benefits they value, such as greater flexibility or part-time employment. Firms also can tap the expertise of the growing number of professionals who have retired from full-time careers and are now consulting.

The survey includes responses from 492 full- or part-time adult workers employed in office environments. 

2007 SmartPros Ltd. All rights reserved.

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