This article really caught my eye and has challenged my views on a personal level.
As my Father moves towards his retirement from work, and me being the eldest child, I'm talking to him about my his and my mother's plans, what they want to do and how financially stable they are. At the same time my wife and I are discussing what we need to do about our retirement plans.
Fortunately, both my parents are healthy and fit, with my father in a full-time role. Both are looking forward to retirement, spending time with the grandchildren, doing some gardening and travelling abroad as often as possible.
But, if the situation changes, is my Father's employer able, willing and prepared to keep him employed. He's in his second career, having been in the military previously, and when he does retire, he'll take over 10 years’ experience in that role with him. He's already one of the longest serving in role in the UK.
This article pulls up all sorts of stats about how many are working beyond retirement age, the fact that this trend is increasing, and that pensioner poverty is driving this need to work. Sometimes individuals want to stay on in a part time capacity to keep them busy.
But beyond this, there are questions that I believe a lot of employers need to ask themselves.
Do we want experienced and knowledgeable staff just to leave the company?
Or should we be speaking with them about working beyond the official retirement age?
Is there a wider strategy that needs to be put in place?
From a recruitment and resourcing perspective this is a potentially untapped pool of talent. One that has a wealth of experience and knowledge, typically is reliable and punctual, and have a strong desire to work.
At a human level there are strong links between working and maintaining a strong social network, a positive impact on mental health and keeping independence.
The article struck a real chord and got me thinking and maybe it will do the same to you as well.
The number of those aged over 70 who are in full- or part-time employment has been steadily rising year on year for the past decade, according to new Office for National Statistics data, reaching a peak of 497,946 in the first quarter of this year – an increase of 135% since 2009.