Insights
Korn Ferry: Preparing for Non-Traditional Retirement
In this article, Korn Ferry looks at the decreasing amount of people retiring and the ways this is forcing a change to the workplace. According to global asset manager Netixis, today’s retirees are less happy with the quality of their life than those ten years ago, making for more and more people continuing to work beyond the traditional retirement age of 65. Korn Ferry also cites financial instability, career passion, and a fear of boredom during retirement as reasons many are delaying retirement.
In reaction to this new trend, companies are finding ways to adjust, such as implementing a “phased retirement” wherein potential retirees begin to work less and less hours a week and slowly transition responsibility over to younger employees. This allows for older employees to continue working while also preparing the next generation of workers for increased responsibility.