2.5 Exit and retirement policies: preparing older workers for retirement
This section will look at policies and measures that can be
introduced when people leave the labour market in their transition to
- Preparing for retirement
- Flexible forms of transition and retirement
- Measures to ensure that skills, contacts, company history and specialist knowledge are not lost
2.5.1 Preparing for retirement
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.
can companies do to prepare older workers for retirement?
- Provide preparatory courses that help provide older workers with a range of options;
- Offer counselling for workers who have taken early retirement or redundancy;
- Provide assistance in finding a new position or in taking up a new training programme;
- Introduce social events that help to retired workers to stay in touch with former colleagues;
- Develop opportunities for older workers to retire flexibly when exiting the labour market;
- Provide advice on opportunities after retirement, including part-time work or voluntary work.
2.5.2 Flexible forms of transition and retirement
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).
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?
- Provide opportunities for older workers who have retired to be included in a company ‘knowledge pool’ on the basis that their skills and knowledge can be called on when needed.
- Include retired workers in consultancy, advisory and mentoring schemes for younger workers.
- Develop opportunities for temporary work, for example, to provide cover at busy times or to provide cover in the vacations.
- Keep retired workers up to date with company policies and developments through a company network or newsletter for retired workers.