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This section will look at policies and measures that can be introduced when people leave the labour market in their transition to retirement.
Companies have an important role to play in helping to prepared older workers for their exit from the labour market and retirement. While redundancy and early retirement have been used as a tool in restructuring programmes, some companies have been considering alternatives that include the redeployment or retention of older workers. Where redundancy and early retirement are unavoidable companies can help prepare older workers through preparatory courses and counselling. This applies equally to older workers that are exiting the labour market upon reaching statutory retirement age.
What can companies do to prepare older workers for retirement?
There may be ways in which a company can provide opportunities for older workers to continue to work on a temporary or consultancy basis in order for skills and knowledge to be transferred to younger workers. Flexible forms of retirement are particularly popular with older workers in some countries, particularly because they enable older workers to gradually reduce their working hours as they approach retirement (as discussed under the previous section in this Toolkit on flexible working hours).
Many older workers indicate that they would like to have opportunities to work part-time or on a temporary basis. Utilising the skills and experience of retired workers, for example, in providing temporary or holiday cover, can have benefits for retired workers and companies.
The company provides employees and their partners with retirement preparation workshops. There are two workshops of two days duration each covering issues such as financial planning, handling pensions, discussion of retirement plans and transition into retirement.
What can electricity companies do to promote flexible forms of transition and retirement?
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