easing into retirement could help with skills shortages, but also benefit workers
Credit: Pexels

Moving into retirement has traditionally meant working full-time and then abruptly never returning to work again—however research from Edith Cowan University (ECU) shows prolonging the shift into post-work life could have far reaching benefits.

Infrastructure Australia estimates the country’s skilled job shortage will be in excess of 100,000 by 2023.

ECU Centre for Work and Wellbeing Director Professor Tim Bentley said the shortage was exacerbated because older workers were leaving the workforce in greater numbers than young people were entering it, and constraints in recruiting skilled migrant workers due to COVID.

Professor Bentley said a slower or graduated retirement process would benefit both employers and employees.

“It’s a win-win,” he said.

“When older workers are gone, they take with them their knowledge, skills and other knowhow which is hard to pass on.

“We always think of declining physical and mental capabilities as people age, but there’s very little in research that actually supports the view that these factors negatively influence work performance.

“The older the age group, the better their psychological and physical health seems to be, because as people age, they’re better at managing their work and their own health and wellbeing because of their experience.”

Professor Bentley said a graduated shift into retirement would allow for less knowledge to be lost.

“There are skills and knowledge you’ve picked up over many years that can be hard to write down and can only be passed on by working with colleagues,” he said.

But… what’s in it for me?

Professor Bentley said many people struggled when first entering retirement, as it meant a massive change to their lives.

“Suddenly you’re confronted with a loss of identity, income, losing the social aspect of work—there are many things you can lose when you walk out those doors for the last time,” he said.

“But you can ease into it if you’re able to slow down, from working full-time to part-time, down to a day a week.

“It allows you to ramp up your non-work life and gives you time to decide what you’d like to focus on as you leave work.”

Accommodating older workers

Professor Bentley said leadership was crucial in retaining older workers, who often have differing wants and needs than younger employees.

For example, older workers place a greater emphasis on feeling valued and having their contributions recognized.

This recognition could be shown by allowing workers greater autonomy in their roles, mentoring younger workers, continuing to offer training, or increased flexibility.

“The number of hours, the timing of the work, where they work is often more important to older workers than what they get paid because a lot of the time their life is more than just work,” Professor Bentley said.

“They can have other responsibilities, caring, things in the community and so on as they begin to transition into that older point in time.

“Flexibility also gives them the chance to have more down time for recovery where work is strenuous mentally or physically.”

“Inclusive leadership, mature age HRM practices and older worker wellbeing” was published in Asia Pacific Journal of Human Resources. More information: Stephen TT Teo et al, Inclusive leadership, matured age HRM practices and older worker wellbeing, Asia Pacific Journal of Human Resources (2021). DOI: 10.1111/1744-7941.12304 Provided by Edith Cowan University Citation: Easing into retirement could help with skills shortages, but also benefit workers (2021, December 8) retrieved 8 December 2021 from https://phys.org/news/2021-12-easing-skills-shortages-benefit-workers.html This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only.

TECH NEWS RELATED

Protecting Electric Vehicle (EV) Charging Stations From Cyberattacks

As the number of electric cars on the road grows, so does the need for electric vehicle (EV) charging stations and the Internet-based managing systems within those stations. However, these managing systems face their own issues: cybersecurity attacks. Elias Bou-Harb, director of the UTSA Cyber Center for Security and ...

View more: Protecting Electric Vehicle (EV) Charging Stations From Cyberattacks

Elon Musk's Tesla Inks Mozambique Deal to Get Key Battery Component Outside China

Deal is part of Tesla’s plan to ramp up its capacity to make own batteries to reduce dependence on China Tesla is turning to Mozambique for a key component in its electric car batteries in what analysts believe is a first-of-its-kind deal designed to reduce its dependence on China ...

View more: Elon Musk's Tesla Inks Mozambique Deal to Get Key Battery Component Outside China

Xiaomi hires former BAIC executive for its electric car project

Xiaomi has hired Yu Liguo, a former senior executive at state-owned automaker BAIC Motor, to lead its autonomous electric vehicle (EV) project. The move brings a highly-experienced executive from the traditional auto industry to the 12-year-old smartphone maker. Why it matters: The hire is the latest sign that Xiaomi ...

View more: Xiaomi hires former BAIC executive for its electric car project

50 more startups in wings to be unicorns: report

ETtechMumbai: India has 50 startups with the potential to achieve the coveted ‘unicorn’ status in 2022 and by the end of the year, the list of the new-age companies valued at over $1 billion will be at least 100, a report by a consultancy firm said on Monday. In 2021, ...

View more: 50 more startups in wings to be unicorns: report

Tesla Turns to Mozambique for EV Components

Tesla is now turning to Mozambique to get key components for its batteries. Analysts believe this to be the first-of-its kind deal that is designed to reduce total dependence on China for graphite. Tesla Plans to Buy 80% of What the Plant Produces According to the story by CNBC, ...

View more: Tesla Turns to Mozambique for EV Components

ESA Approves The Next-Generation Exoplanet Mission Plato, Development Moves to Second Stage

The European Space Agency’s (ESA) next-generation planet-hunting mission, Plato, will launch in 2026. The mission’s future development has recently been given the green light. According to ESA, the spacecraft critical design review, which will check the precise design of the whole spacecraft before its construction in 2023, is the next ...

View more: ESA Approves The Next-Generation Exoplanet Mission Plato, Development Moves to Second Stage

Apple's New iPad Pro Might Come With MagSafe Charging Glass Logo: Report

Apple is already experimenting with at least one 2022 iPad Pro prototype with MagSafe on board American tech giant Apple has never been particularly chatty when it comes to future plans and RnD. Still, most analysts believe that updated vanilla iPad and iPad Air, as well as new Pro ...

View more: Apple's New iPad Pro Might Come With MagSafe Charging Glass Logo: Report

China's first 2022 launch a success, satellite now in orbit

China successfully launched a satellite into orbit from Taiyuan Satellite Launch Center in north China’s Shanxi Province on Monday. The satellite blasted off atop a Long March-2D carrier rocket at 10:35 a.m. Today’s launch marks China’s first launch in 2022 and the 406th flight of China’s Long March rocket ...

View more: China's first 2022 launch a success, satellite now in orbit

Fire-Boltt Ninja 2 Max Launched In India, See Price & Specifications

KT partners with Shinhan Bank to develop AI, metaverse services

Piyush Goyal assures full support to IT firms in pushing growth, exports to $1 trillion

National Startup Day validates role of startups in growth of economy

Indian electric commercial vehicle startup EVage raises $28M seed round led by RedBlue Capital

The Tonga volcanic eruption has revealed the vulnerabilities in our global telecommunication system

Agritech firm DeHaat acquires farm input startup Helicrofter

IndiaFilings closes $4.3 million in secondary share sale to BeeNext, Udtara Ventures

US and China, in separate corners, wrestle with cryptomania’s excesses

OnePlus 9RT Goes on Sale in India With Snapdragon 888 SoC, 50-Megapixel Triple Cameras for the First Time

Apple to Require Employee Proof of COVID-19 Booster: Report

Crypto Price Chart Shows Gains and Losses as Altcoins Swell Up While Bitcoin, Ether See Dips

OTHER TECH NEWS

;